2014 Ram 1500 Slt on 2040-cars

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Dongfeng and PSA extend Chinese joint venture

BEIJING/PARIS — China's Dongfeng and Peugeot maker PSA are extending their business cooperation, despite the Chinese company reducing its stake in PSA to help smooth the French carmaker's merger with Fiat Chrysler Automobiles (FCA). Dongfeng said on Thursday it had agreed with PSA to extend the duration of their joint venture Dongfeng Peugeot Citroen Automobiles (DPCA). Under the deal, the venture could get the rights to PSA's new brands in China and will benefit from new technologies and intellectual properties, the Chinese company said. PSA was not immediately available for comment. The announcement comes a day after the companies said Dongfeng would reduce its 12.2% stake in PSA by selling 30.7 million shares to the French company. Analysts said the move could smooth U.S. regulatory approval for PSA's roughly $50 billion (GBP38.97 billion) merger with Italian-American carmaker FCA. The sale of Dongfeng's shares in PSA, worth around 680 million euros ($757 million), will leave the Chinese group holding around 4.5% of the merged PSA-FCA, which is set to become the world's fourth-biggest carmaker by sales volumes. "As the cooperation between Dongfeng and PSA deepens, we expect the joint venture to continue making good progress in China," a Dongfeng representative said. On a conference call, Dongfeng said DPCA would have exclusive rights to PSA's Opel cars should the partners agree to bring the brand to China, and enjoy lower prices on car parts imported from PSA. Earlier this year, a document seen by Reuters showed Dongfeng and PSA plan to cut jobs at Wuhan-based DPCA and reduce its number of car plants to try to make the venture more profitable. Chrysler Dodge Fiat Jeep RAM Citroen Peugeot China FCA PSA Dongfeng

Stellantis reports record margins, $7B profits despite chip shortage

MILAN — Automaker Stellantis on Tuesday said it achieved faster-than-expected progress on synergies and record margins in its first six months as a combined company, despite suffering 700,000 units in lower production due to interruptions in the semiconductor supply chain. The company — formed from French carmaker Peugeot PSAÂ’s takeover of the Italian-American company Fiat Chrysler — reported net profit of 5.9 billion euros ($7 billion) in the first half of 2021, compared with a loss 813 million euros during the same period a year earlier, which was impacted by the coronavirus restrictions around the globe. Shipments rose 44% to 3.2 million units, while revenues rose 46% to 75 billion euros. “We are very pleased with the speed with which the new team has begun to execute as one company, as Stellantis,Â’Â’ Chief Financial Officer Richard Palmer told reporters. Semiconductor shortages accounted for 200,000 units of production losses in the first quarter and 500,000 in the second quarter. Semiconductors are used more than ever before in new vehicles with electronic features such as Bluetooth connectivity and driver assist, navigation and hybrid electric systems. Stellantis achieved 1.3 billion euros in cost savings in the first half, mostly by sharing investments in new technologies and platforms, which Palmer said was a faster rate than initially forecast. It aims to achieve 80% of the targeted 5 billion in cost savings by 2024. “These synergies allow us to continue to invest in the electrification strategy, which we talk about every day,” Palmer said. Stellantis, which lags competitors in rolling out electric vehicles, plans to launch 21 fully electric or plug-in gas electric hybrid vehicles over the next two years. North American posted record profitability on global sales of Ram trucks and the strong launch of the Jeep Wrangler 4xe, which was the best-selling plug-in gas electric vehicle in the United States in the second quarter. Stellantis was the market leader in South America and second in Europe. The results were presented on a pro-forma basis, taking into account the performance of each of the carmakers as separate entities during 2020. Related video: 2021 Jeep Wrangler Rubicon 392 Inside and Out

Ram partners with Lucchese on a range of luxury boots

A few months ago, Ram announced a partnership with Michigan-based Wolverine boots on a range of work boots based on the Ram 1500 Tradesman, Rebel, and Limited trims. The number two full-size truckmaker so far this year in sales isn't finished with footwear, Ram announcing a range of dress boots in collaboration with Texas-based boot company Lucchese. There are five styles in total, three for men, two for women. Since these Western-themed cowboy specials are based on the $58,565 10th Anniversary Limited Longhorn Edition, which lives at the opposite end of the trim range to Tradesman, the Lucchese models can cost more than 10 times the Wolverines. Whereas the entry-level Wolverine Tradesman cost $229, the top-dog Lucchese men's Tooled Western Boot runs $2,495. That money gets luxury features and Lucchese's hand-worked processes that pass each boot through as many as 120 pairs of hands on the way to being finished. That $2,495 boot is made with a hand-tooled quarter, which is the shaft of the boot that runs up the leg above the ankle, and a giant gator vamp, the vamp being the lower portion of the boot that covers the foot. The men’s Caiman Horseman Boot includes a hand-cut inlay quarter and giant belly caiman vamp for $995. The menÂ’s Ostrich Horseman model wears a fancy stitch quarter and hand stained ostrich vamp for $745. The women's Giant Gator Western Boot is made with an inlayed quarter and a giant gator vamp for $1,395. The final model, the women's Horseman Boot, gets a side seam quarter and inlay with a goatskin vamp for $695. Each boot is also emblazoned with some kind of automaker logo which can include the word "Ram" or "Longhorn," or the Ram bighorn sheep logo. And if a Ram owner needs to get even more on-brand where the leather meets the ground, Ram sells a three-pack of branded socks for $25. Ryan Nagode, chief designer for Ram interiors, said this partnership can be traced back to a visit to Texas with his design team more than a decade ago. The group noted the creativity and attention to detail on the wares at boot and saddle shops, aspects that would increasingly make their way into Ram interiors as trucks got more luxurious from top to bottom. Closing the circle, Lucchese boot designer Trey Gilmore strove to re-create certain aspects of the 10th Anniversary Longhorn truck, like the Mountain Brown leather interior. The boots are available for pre-order now at the Lucchese site.