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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

Win a car while supporting a charity this holiday season

Autoblog may receive a share from purchases made via links on this page. Pricing and availability are subject to change. No donation or payment necessary to enter or win this sweepstakes. See official rules on Omaze.  The leaves have fallen, there is a crispness to the air and there have already been multiple forecasts of snow, which can only mean one thing: We're coming up on Christmas. While you've been busy thinking about what kind of gifts you're going to give your loved ones, we here at Autoblog have been deciding which dream car we'd like to see in our driveway on Christmas morning. A car for Christmas does seem a bit extreme and expensive, but thanks to these Omaze sweepstakes, it doesn't have to break the bank. Here are the current sweepstakes we'd like to win this holiday season. Win a DeLorean DMC-12 - Enter at Omaze James Riswick, West Coast Editor: Let me be clear, the DeLorean is a pretty terrible car. Its speedometer doesn't even go up to the fabled 88 mph. Seriously, look at the pictures: tops out at 85. Also, who services a DeLorean? And how much would it cost to maintain one? $AlloftheMoney or just $MostoftheMoney? So owning it could be a total headache, but at least by winning one through Omaze, you'd be relieved of the financial burden of buying one in the first place. You'd also get the chance to own one of the most iconic cars of all time, one that transcends car enthusiasm and is instantly recognizable by everyone as the "Back to the Future" car. Plus, "everyone" doesn't know that the DeLorean was actually a pretty terrible car. So, I already own James Bond's car from 1995, why not Doc Brown's from 1985? Win a 2021 Bentley Bentayga V8 - Enter at Omaze Eddie Sabatini, Production Manager: Why am I choosing a +$200K Bentley SUV? Because even if I could afford one I'd never be able to wrap my head around spending money on one. So why not try to win one by donating what I can afford to a good cause? I first saw the Bentley Bentayga up close and personal at the Frankfurt Motor Show (I forget which year but I'll never forget this SUV). And although it looks like the Bentayga Omaze is offering up doesn't have the opulent tailgate setup I fell in love with when I saw it in Frankfurt, I'd still enter to win. Win a 1968 Mercedes-Benz 280SL Pagoda - Enter at Omaze Byron Hurd, Editor: Few automotive marketing efforts stick out in my head more than the Mercedes-Benz holiday spots and magazine placements.

2018 Jeep Wrangler Buying Guide | Answers to your SUV questions

There are few truly one-of-a-kind vehicles, but the Jeep Wrangler remains one of them. Available in traditional two-door form, or as the four-door Unlimited model, this proudly square-shaped SUV traces its origins back to the battlefields of World War II. While its shape seemingly hasn't changed much over the years, the 2018 Wrangler has been completely redesigned inside and out. A 3.6-liter Pentastar V6 and all-wheel drive are standard across the extensive Wrangler lineup, including rock-crawling versions like the highly regarded Rubicon model. While it doesn't have any direct rivals, some buyers might prefer an SUV with more refined ride and handling characteristics. The Wrangler's solid front and rear axles' primary purpose is off-road adventure, not on-road comfort, no matter how much it's been improved over its predecessor. Here you'll find all the information needed to make an educated buying decision if you're considering a 2018 Jeep Wrangler including safety and reliability ratings, engine specs, horsepower, fuel economy ratings and pricing. We'll also summarize what Autoblog's professional auto reviewers think of the Wrangler. Is the 2018 Jeep Wrangler Safe? The National Highway Traffic Safety Administration has not given the 2018 Jeep Wrangler an overall safety rating. However, the 2018 Wrangler is listed as scoring three out of five stars in frontal crash tests and rollover resistance. The Insurance Institute for Highway Safety, which provides ratings for new vehicles based on its own comprehensive crash tests, did not give the 2017 model year (previous generation) Wrangler, the last one fully-tested, a recommended rating. The 2017 Wrangler scored a "marginal" rating for driver side safety in the small overlap frontal crash test (a passenger side rating was not recorded). Side impact performance came in at a "poor" rating, as did overall headlight performance. One bright spot in an otherwise dismal safety score was the Wrangler's "good" rating in the moderate overlap front crash test. Ratings may differ for Wrangler models from other model years, so be sure to visit the https://www.nhtsa.gov/ NHTSA and http://www.iihs.org/iihs/ratingsIIHS websites to review ratings on the specific vehicle you're researching. At the time of this writing, the 2018 Wrangler is subject to one ongoing recall involving 106 vehicles.