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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

Ward's Automotive Ten Best Engines of 2014 dominated by diesels, turbos

With the Car and Driver Ten Best decided, the North American Car and Truck of the Year finalists announced and Cadillac, Ram and Subaru chalking up wins with Motor Trend, it's fair to say that the automotive awards season is in full swing. The next set of trophies to be handed out will be from Ward's Automotive, which has announced the winners of its 2014 10 Best Engines.
The latest contest was marked by the widespread emergence of diesel power and the continued success of turbocharged engines. There was even an electric motor on this year's list. In fact, only three of the ten winners were naturally aspirated and only two winners returned from last year.
"We weren't looking to throw the bums out, as they might say about an election. We were just really impressed with the flood of new powertrains," said Ward's Automotive Editor-in-Chief Drew Winter. Those new powertrains include the 83-kilowatt electric motor from the Fiat 500e, the 1.0-liter, EcoBoost three-cylinder from the Ford Fiesta and the 2.0-liter turbodiesel from the Chevrolet Cruze.

Dead man went unnoticed in pickup at airport for nearly 8 months

The Kansas City Star reports that on Sept. 12, Lenexa, Kan., police found a dead man in the cab of his Dodge Ram 1500 at the Kansas City International Airport. Though a disturbing thing to find at any time, the scene was made all the worse by the fact that the body had been sitting in that truck for eight months. That's right, for virtually all of 2017 to date. It seems likely that the missing man, Randy Potter, committed suicide, and it likely happened the night he was reported missing, which according to KCTV 5, was Jan. 17. This is because, according to the Chicago Tribune, Potter's parking ticket was printed that day. The fact that it took eight months to find Potter is astonishing. Although the Associated Press reports that Potter's body was covered by a blanket and the windows of the Ram were tinted, those aren't really excusable excuses. Potter's truck was in a large parking lot, one that holds nearly 6,000 cars, according to the Kansas City Star, but that shouldn't have mattered, since the company in charge of the lot, S-P+, was supposed to take an inventory of every car in the lot every single night. Plus, Potter's family took the license plate number of the truck to the parking lot security companies not long after his disappearance. Clearly no one from the parking company was watching closely. As for the police, the Star reports that they never checked the airport since there wasn't any evidence to say he might have gone there. Yet they say they spent "several hundred man hours" on the case, and their operating theory was that he had left his family. One way people leave is by plane. So how was the body finally discovered? Someone who parked nearby complained of a horrible smell. After eight months, no doubt. It's puzzling that no one would have reported a smell sooner. Though the problem would have been bad enough in winter and spring, it would have become pretty intense in the summer months, with high temperatures in the 90s translating into incredible heat inside a truck on shadeless pavement under the relentless Missouri sun. Related video: