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Stellantis earnings rise along with EV sales

AMSTERDAM — Automaker Stellantis on Wednesday reported its earnings grew in 2022 from a year earlier and said its push into electric vehicles led to a jump in sales even as it faces growing competition from an industrywide shift to more climate-friendly offerings. Stellantis, formed in 2021 from the merger of Fiat Chrysler and FranceÂ’s PSA Peugeot, said net revenue of 179.6 billion euros ($191 billion) was up 18% from 2021, citing strong pricing and its mix of vehicles. It reported net profit of 16.8 billion euros, up 26% from 2021. Stellantis plans to convert all of its European sales and half of its U.S. sales to battery-electric vehicles by 2030. It said the strategy led to a 41% increase in battery EV sales in 2022, to 288,000 vehicles, compared with the year earlier. The company has “demonstrated the effectiveness of our electrification strategy in Europe,” CEO Carlos Tavares said in a statement. “We now have the technology, the products, the raw materials and the full battery ecosystem to lead that same transformative journey in North America, starting with our first fully electric Ram vehicles from 2023 and Jeep from 2024.” The automaker is competing in an increasingly crowded field for a share of the electric vehicle market. Companies are scrambling to roll out environmentally friendly models as they look to hit goals of cutting climate-changing emissions, driven by government pressure. The transformation has gotten a boost from a U.S. law that is rolling out big subsidies for clean technology like EVs but has European governments calling out the harm that they say the funding poses to homegrown industry across the Atlantic. Stellantis' Jeep brand will start selling two fully electric SUVs in North America and another one in Europe over the next two years. It says its Ram brand will roll out an electric pickup truck this year, joining a rush of EV competitors looking to claim a piece of the full-size truck market. The company plans to bring 25 battery-electric models to the U.S. by 2030. As part of that push, it has said it would build two EV battery factories in North America. A $2.5 billion joint venture with Samsung will bring one of those facilities to Indiana, which is expected to employ up to 1,400 workers. The other factory will be in Windsor, Ontario, a collaboration with South KoreaÂ’s LG Energy Solution that aims to create about 2,500 jobs. The EV push comes amid a slowdown in U.S.

FCA fibbed on sales according to internal report

Following last week's news that Fiat Chrysler Automobiles (FCA) is under investigation by the Department of Justice and Securities and Exchange Commission for allegedly fudging sales figures, a new report in Automotive News says an internal investigation at FCA uncovered misreported sales. According to the AN story, 5,000 to 6,000 vehicles from various FCA brands were reported sold by dealers, but no customers existed for those cars. FCA sales chief Reid Bigland has already put a stop to the practice. One potential reason for the practice was to maintain the company's month-to-month sales increase streak, currently at 75 months. In April, FCA added a lengthy disclaimer to its sales announcements: "FCA US reported vehicle sales represent sales of its vehicles to retail and fleet customers, as well as limited deliveries of vehicles to its officers, directors, employees and retirees. Sales from dealers to customers are reported to FCA US by dealers as sales are made on an ongoing basis through a new vehicle delivery reporting system that then compiles the reported data as of the end of each month. "Sales through dealers do not necessarily correspond to reported revenues, which are based on the sale and delivery of vehicles to the dealers. In certain limited circumstances where sales are made directly by FCA US, such sales are reported through its management reporting system." FCA did not provide comment to Automotive News. Click through for the full story and more details. Related Video: Earnings/Financials Government/Legal Chrysler Dodge Fiat Jeep RAM sales Sergio Marchionne FCA USDOJ reid bigland

Ram 1500 Laramie Longhorn could become Limited Longhorn for 2021

Residents of Laramie, Wyoming, will soon lose one of their claims to fame, according to a recent report. Ram's upmarket 1500 Laramie Longhorn will allegedly become the Limited Longhorn for the 2021 model year. Without citing sources, enthusiast website Mopar Insiders reported the name change, and explained it brings the truck closer to the range-topping Limited trim in the minds of consumers. As the publication pointed out, the Laramie Longhorn and the Limited both offer a generous serving of chrome trim, LED headlights, and fender flares, among other features. And, while the Laramie Longhorn isn't the range's flagship, it coddles buyers with a luxury-car-like cabin that features soft leather upholstery and real wood trim on the dashboard. 2021 will also bring more in-car technology, still according to the Mopar Insiders report, including an Enhanced Trailer Tow Package that bundles an integrated trailer brake controller, trailer reverse steering controls, a tire pressure monitoring system for the trailer, and a trailer light check function. Motorists will also benefit from a customizable head-up display, a digital rear-view mirror, and Off-Road Pages for the Uconnect infotainment system. It's reasonable to assume that these features will be offered on other trims, too. What remains to be seen is how the updates will affect the truck's pricing. As of writing, the 2020 1500 carries a base price of $33,840 for a rear-wheel drive Tradesman model, and tops out at $59,110 when buyers select a four-wheel drive Limited. The Laramie Longhorn that is allegedly being replaced costs $53,335 with rear-wheel drive. Note all of the aforementioned figures include the mandatory $1,695 destination charge. The spokesperson Autoblog contacted wouldn't confirm or deny the rumor. All we learned is that Fiat-Chrysler Automobiles (FCA) will announce its 2021 updates on September 1, 2020. Stay tuned for more, then. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2020 Ram 2500 Power Wagon POV drive