2014 Jeep Grand Cherokee Limited on 2040-cars

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Stellantis reports $15B profit in first year of merger

FRANKFURT, Germany — Automaker Stellantis said Wednesday that it made 13.4 billion euros ($15.2 billion) in its first year after it was formed from the merger of Fiat Chrysler Automobiles and PSA Group. The earnings nearly tripled profits compared with its pre-merger existence as two separate companies, as the maker of Jeep, Opel and Peugeot vehicles exploited cost efficiencies from combining the businesses. The result compared to a combined 4.79 billion euros for the separate companies in 2020 before the merger, which took effect on Jan. 17, 2021. Revenue for the combined business rose 14%, to 152 billion euros. CEO Carlos Tavares said the results “prove that Stellantis is well positioned to deliver strong performance" and had overcome “intense headwinds” during the year. Automakers have struggled with shortages of key parts such as semiconductor electronic components and rising costs for raw materials as the global rebound from the worst of the coronavirus pandemic brings more demand. The company said the benefits of the merger were worth some 3.2 billion euros during the year. Mergers can lead to streamlined costs as companies combine functions and spread fixed costs over a larger revenue base. The company accelerated its rollout of battery-powered vehicles, with sales of low-emission vehicles reaching 388,000 — an increase of 160%. Stricter environmental regulations in Europe and China are pushing automakers to roll out more electric vehicles with longer range. Stellantis started production of a hydrogen fuel cell commercial van under its Opel brand in December. Stellantis' other brands include Chrysler, Citroen, DS, Fiat, Maserati, Ram and Vauxhall. Related video: Earnings/Financials Chrysler Dodge Ferrari Fiat Jeep RAM Citroen Opel Peugeot Vauxhall

2019 Jeep Cherokee and Cherokee Trailhawk spotted in Pittsburgh

The current Jeep Cherokee debuted for the 2014 model year, meaning it's about due for a refresh. When it was revealed, the controversial styling and front-wheel-drive-based platform caused a stir among the Jeep crowd. While there isn't much Jeep can do about the platform at this point, it seems the automaker's designers have a much more traditional refresh in the works. Thanks to Autoblog readers Matthew Young and Mike Bothwell, we have a new batch of spy shots, include a couple of the new Cherokee Trailhawk. The refreshed Cherokee looks to crib quite a bit from the new Jeep Compass. Rather than splitting the front lighting like before, the driving lights, headlights and turn signals are all one unit. The whole fascia seems to be a bit more upright than before, though the grille is still canted backward. Out back, the Cherokee gets new taillights that feature clear lenses, again similar to the Compass. The rear bumper gets a mild refresh, too. The reflectors move up, and the Trailhawk's exhaust looks like it moves further inward. One of the Cherokees seems to have a crushed pipe, suggesting some unlucky engineer had a mishap. The red tow hook looks to be in about the same place. No word on when the Cherokee will go one sale, but expect some news as soon as the Detroit auto show in January. Related Video: Featured Gallery 2019 Jeep Cherokee Spy Shots Image Credit: Matthew Young Spy Photos Jeep Crossover SUV

Chrysler nets $1.6B income in Q4, Fiat profit up 5%

Chrysler announced its 2013 financial results today and unveiled its new name and decidedly bank-like logo. Amid the announcement, Chrysler posted big gains in income, while Fiat didn't perform to analysts' expectations.
For 2013, Chrysler had revenue of $72.1 billion, up 10 percent from 2012. Net income reached $2.8 billion, a 65-percent increase. It was the company's third straight year of annual profits.
In terms of unit sales, Chrysler sold 2.4 million cars worldwide in 2013, up 9 percent. According to Automotive News, 1.8 million of those vehicles were sold in the US, a 14-percent increase. The sales growth boosted Chrysler's US market share to 11.4 percent, up 0.2 percent.