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Stellantis says its 2021 performance has been better than expected

MILAN — Stellantis softened up investors ahead of its electrification strategy event on Thursday by flagging that 2021 got off to a better-than-expected start despite a chip shortage that has hit automakers worldwide. Stellantis, which was formed in January from the merger of Italian-American automaker Fiat Chrysler and France's PSA, faces an investor community keen to hear how it plans to come up with a range of electrified vehicles (EVs) to rival Tesla. At its "EV Day 2021" kicking off at 1230 GMT, Stellantis will disclose significant investments in electrification technology and connected software as it aims to be an industry frontrunner, it said in a statement. In April, Chief Executive Carlos Tavares said it would offer low-emission versions — either battery or hybrid electric — of almost all of its European models by 2025, and they should make up 70% of European sales and 35% of U.S. sales by 2030. Stellantis, the world's fourth-biggest automaker, has 14 brands in its stable, including Jeep, Ram, Opel, Fiat, Peugeot and Maserati.   Stellantis EV Day coverage: Dodge will launch the 'world's first electric muscle car' in 2024 Fully electric Ram 1500 will begin production in 2024 Jeep will have 4xe plug-in hybrid models across the lineup by 2025 Stellantis teases mystery electric Chrysler concept Stellantis previews 4 electric platforms: Here's how they'll be used Fiat says all Abarth models to be electric from 2024 Opel Manta E will be the electric revival of the classic German coupe Stellantis says its 2021 performance has been better than expected   At a similar EV strategy event last week, French rival Renault announced that 90% of its main brand models would be all-electric by 2030, whereas previously it had included hybrids in its target. Germany's Volkswagen, the world's second-biggest automaker after Toyota, expects all-electric vehicles to make up 55% of its total sales in Europe by 2030, and more than 70% of sales at its Volkswagen brand. Stellantis said its margins on adjusted operating profits in the first half of 2021 were expected to exceed an annual target of between 5.5% and 7.5%, despite production losses due to a global shortage of semiconductor supplies. Stellantis shares listed in Milan were down 2.6% at 0920 GMT, underperforming the broader European car index. Bestinver analyst Marco Opipari said Thursday's news was positive but that the stock was suffering from profit taking as it had moved up about 20% since the end of April.

Jeep Grand Commander three-row crossover SUV revealed in Beijing

Jeep has finally revealed its first three-row SUV since the Commander, and the new one is called, as we expected, Grand Commander. And it looks just like we expected from leaked images and patent drawings. It pulls a bit of inspiration from the Jeep Yuntu concept, but it generally looks like a much bigger, stretched-out Compass. We do see a bit of Renegade inspiration in the D-pillar, though. Interestingly, the Grand Commander isn't really bigger than our Grand Cherokee. The Grand Commander is just under 192 inches long, which is only 2 inches longer than the Grand Cherokee. But the Grand Commander's wheelbase is four inches shorter. It's also about two inches narrower than the Grand Cherokee. This is all interesting considering the Grand Commander's greater passenger capacity. Also interesting is the Grand Commander's powertrain. It's only available with a turbocharged 2.0-liter four-cylinder, likely lifted from the Jeep Cherokee and Wrangler. If so, it's been detuned, and it now makes just 231 horsepower and 258 pound-feet of torque as opposed to the 270 horsepower and 295 pound-feet in the other Jeeps. The Grand Commander's four-cylinder is also paired to a nine-speed automatic, and it can be had with either two-wheel or four-wheel drive. The question of course is, will the Grand Commander come to America? It would fill a gap in the Jeep lineup, since the brand has no three-row vehicles. There have been many rumors of a three-row Jeep, possibly called Grand Wagoneer, as well as Grand Commander prototypes running around the U.S. But the size of the Grand Commander has us questioning whether it would be brought here, or if Jeep would develop a larger three-row, maybe based on Durango, for our market. Related Video: Featured Gallery Jeep Grand Commander View 10 Photos Image Credit: Jeep Beijing Motor Show Jeep Crossover SUV

470,000 Jeep Liberty, Chrysler 200, and Dodge Avenger models recalled for restraint defect

Fiat Chrysler Automobiles said on Friday it is recalling 470,000 vehicles worldwide to replace a component that may inhibit deployment of the vehicles' active head restraints in the event of a crash. Around 414,000 of those vehicles were sold in the United States. Apparently, "a component common to the modules of certain vehicles may degrade after extensive vehicle use." The recall covers 2012 Jeep Liberty sport utility vehicles and 2012-13 Chrysler 200 and Dodge Avenger midsize cars. FCA says a warning light may alert owners to the problem. The Italian-American automaker said it is unaware of any injuries or accidents related to the recall. The U.S. National Highway Traffic Safety Administration opened an investigation into the issue in June. (Reporting by David Shepardson; Editing by Steve Orlofsky) Related Video: