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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

FCA believes thieves aren't getting into Jeeps with laptops

Last week, we reported on an incident where thieves stole a 2010 Jeep Wrangler from an owner's driveway in Houston, TX with nothing but a laptop. While the security footage made it seem like the perpetrator hacked into the vehicle, we had a conversation with FCA's senior manager of security architecture Titus Melnyk who set the record straight. According to Melnyk, the thief in the video isn't using the laptop to get into the vehicle, but rather as a means of coding a blank key fob and then using that fob to get into the Jeep. According to Melnyk, the suspects have gained access to a key programming tool, which allows them to pair blank key fobs to FCA vehicles. With the key fob now coded, the suspects can get into the vehicle and drive away. The thieves, believes Melnyk, have acquired the programming tool through a dishonest dealership or locksmith. Since the suspects are using a process designed to be used (honestly) by dealers, FCA doesn't consider this to be hacking and believes that there are no security flaws in the vehicles. How are the thieves getting key fobs? While Melnyk believes it is possible to recode an existing key fob, he points out that it's much easier to purchase a blank key fob on Ebay for less than $25. FCA is working closely with the Houston Police Department to apprehend the suspects. Related Video: Jeep Technology SUV Videos viral video hacking thieves

Is a Jeep Renegade Hybrid coming soon?

We've known that Jeep is working on an updated Renegade. We've seen prototypes with updated front and rear fascias and with updated interiors. But it seems that the next Renegade will have more than just cosmetic updates. One of our spy photographers caught Jeep testing a Renegade Trailhawk that looks like a normal current one, but it has an electric shock warning sign in the window. Can we therefore assume it'll be a Jeep Renegade Hybrid? This sign seems to indicate that the Renegade will offer some sort of electrified powertrain. And its use on a lifted, off-road oriented Renegade Trailhawk seems to indicate that it'll be available throughout the trim level lineup. The question is, will it really be a hybrid or something like the Wrangler four-cylinder that features a 48-volt electrical system and a starter/generator for mild electrical assistance? This system is becoming more and more common as a way for car companies to eke out a few more mpg as well as adding some performance gains. Then again, we never saw this sign in any prototype Wranglers, so it could be possible this Renegade is using a more traditional hybrid system like you would find in a Prius or Ioniq. FCA certainly has experience with full hybrids, as evidenced by the Pacifica PHEV. The Wrangler will be getting a PHEV iteration, too. We probably don't have long to find out what sort of electrification the Renegade will receive. The visually updated prototypes we've seen aren't radically changed, so it likely won't take long to finish testing and release them. We're expecting to see the little SUV revealed by the end of the year, and probably on lots early in 2019. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery Jeep Renegade hybrid spy shots Image Credit: KGP Photography Green Spy Photos Jeep Crossover SUV Economy Cars Hybrid Off-Road Vehicles jeep renegade