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Stellantis reports surprising 2020 results, is 'off to a flying start'

MILAN — Low global car inventories and cost cuts should boost Stellantis's profit margins this year, though a shortage of semiconductors and investments in electric vehicles could weigh on results, the newly-formed automaker said on Wednesday. The forecast came as Stellantis, created by the January merger of Peugeot-maker PSA and Fiat Chrysler (FCA), reported better-than-expected results for 2020 that sent its shares up around 3% in morning trading. "Stellantis gets off to a flying start and is fully focused on achieving the full promised synergies (from the merger)," Chief Executive Carlos Tavares said in a statement. Stellantis is the world's fourth largest carmaker, with 14 brands including Fiat, Peugeot, Opel, Jeep, Ram and Maserati. It said 2021 results should be helped by three new high-margin Jeep vehicles in North America and a strong pricing environment there. The U.S. market has driven profits for years at FCA and starts off as the strongest part of Stellantis. The group's guidance assumes no more significant lockdowns caused by the global COVID-19 pandemic, which shuttered auto plants around the world last spring. Stellantis should also get a lift as its starts to implement a plan aimed at delivering over 5 billion euros a year in savings, without closing any plants. Tavares has also pledged not to cut jobs. But a pandemic-related global shortage of semiconductors, used for everything from maximizing engine fuel economy to driver-assistance features, could hurt business. Auto industry executives have said the shortage should ease by the second half of 2021. Stellantis said its "electrification offensive" could also weigh on results this year. Automakers are racing to develop electric vehicles to meet tighter CO2 emissions targets in Europe and this week Volvo joined a growing number of carmakers aiming for a fully-electric line-up by 2030. Stellantis plans to have fully-electric or hybrid versions of all of its vehicles available in Europe by 2025, broadly in line with plans at top rivals such as Volkswagen and Renault-Nissan, although Stellantis has further to go to meet that goal. The carmaker is targeting an adjusted operating profit margin of 5.5%-7.5% this year. That compares with a 5.3% aggregated margin last year: 4.3% at FCA and 7.1% at PSA excluding a controlling stake in parts maker Faurecia, which is set to be spun-off from Stellantis shortly.

Jeep’s latest special edition tries to give the all-American Wrangler European appeal

Jeep has a long history in Europe, starting with GIs bouncing across the continent kicking Nazi ass and much later being a conspicuously American status symbol. It's been a varied existence, to be sure. And there have been a lot of Euro-only editions aimed at Continental tastes, like the Wrangler Polar and the Black Edition II. So this Mopar One Package version of the Wrangler Rubicon, which Jeep showed off at the Geneva show but was just showcased at the "Euro Festival" in Saint-Tropez, wasn't born in a vacuum. It really underlines the continuing appeal in Europe for stereotypically American things. "Euro Festival", after all, is a Harley-Davidson gathering. Harleys are expensive, conspicuous status symbols in Europe – and so is a Wrangler. The Mopar One Package is only available on the Rubicon, and is a little unusual in that it's more function-oriented than the normally cosmetic Euro packages. It has a 2-inch lift kit, larger 32-inch tires, a steering stabilizer, and accessory fenders. Jeep says this is the first time it's been able to offer factory-installed accessories in Europe, so now our friends over there can enjoy the highly addictive experience of ticking off boxes to customize a Wrangler. One thing the Euro Rubicon gets that we can't, which might make American Jeepers a little jealous, is the 2.8-liter CRD diesel engine. That's a VM Motori unit, similar to what was available over here in the Jeep Liberty for a hot minute. Euro Jeeps have used variants of this engine for years. If you want an off-road diesel comparable to the Euro Rubicon, you either have to move to the Euro Zone or buy a new Chevy Colorado ZR2 – which we just drove, by the way. No word on how much the Mopar One Package will set buyers back. It's likely that this is also just a beachhead for more factory customs from Mopar, not just in the Jeep world. It'll be interesting to see how Europe responds. Related Video: Aftermarket Jeep SUV Off-Road Vehicles

Automotive News Recap for the week of 9.2.16 | Autoblog Minute

A look back at the week in automotive news, including spy shots of the next-gen Mercedes-Benz GLE SUV, and a look at the 2017 Jeep Grand Cherokee Trailhawk that is soon to hit dealers in the United States. Jeep Mercedes-Benz Autoblog Minute Videos Original Video mercedes-benz gle trailhawk