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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.

Mopar Dodge Challenger special edition celebrates a mod decade

Despite the current Dodge Challenger hitting the age of 11 this year, it continues to be a top seller for the brand. One of the reasons for its popularity is its customizability. FCA acknowledges this with the just-revealed, limited-edition Mopar 2019 Dodge Challenger celebrating its factory-backed performance parts and accessories straight from the its own in-house parts division. For 10 years, Challenger owners have benefited from upgrades directly from Chrysler’s Mopar division. This has been a big deal because tuning a car often required aftermarket parts, which could jeopardize factory warranties. But with upgrades directly from original equipment manufacturers, such a risk was eliminated. “Over the last decade, weÂ’ve customized an impressive group of vehicles with exclusive Mopar performance parts and accessories that our enthusiast customers crave,” said Mark Bosanac, head of Mopar Service in a statement. “This year weÂ’re commemorating our tenth Mopar build with another unique and collectible Dodge Challenger, which continues to be the modern muscle car every bit as beloved today as the first-generation vehicle was 50 years ago.” The 2019 Mopar Dodge Challenger starts life as R/T Scat Pack model. Under the hood sits a 392-cubic inch (6.4-liter) Hemi V-8 with 485 horsepower and 475 pound-feet of torque with the choice of a six-speed manual or an eight-speed automatic. But Mopar sweetens the deal by adding a performance cold-air intake, strut tower braces to improve structural rigidity and handling, as well as strut caps and braces painted in silver for eye candy whenever the hood is popped. ItÂ’s only available in two hues, Pitch Black or White Knuckle, and comes with a variety of bespoke interior and exterior upgrades. They include special Mopar Shakedown graphics and blue striping from the front fascia all the way back to the rear decklid spoiler. Completing the look is a set of 20x9-inch forged aluminum wheels wrapped in Goodyear P245/45ZR20 performance tires and the optional shaker hood package made standard. Sales commence next month with a starting price of $45,835.

Suppliers love Toyota and Honda: Why that matters to you

You might think that a survey of automotive suppliers and their relationship with OEMs is the automotive equivalent of nerd prom. In some ways that's what the North American Automotive OEM-Supplier Working Relations Index (WRI) is. The study, the 17th annual conducted by Planning Perspectives Inc., is based on input from 652 salespeople from 108 Tier One suppliers, or, PPI points out, 40 of the top 50 automotive suppliers in North America. Suppliers to General Motors, Ford, FCA, Toyota, Honda, and Nissan. But the results have consequences in terms of tens of millions of dollars for OEMs - and in the quality, technology, and cost of the next vehicle you buy. There are a couple of ways to look at the results of the WRI. One is, "So what else is new?" And the other is, "Damn! How did that happen?" The study looks at five relationship areas — OEM Supplier Relationship; OEM Communication; OEM Help; OEM Hindrance; Supplier Profit Opportunity — within six purchasing areas — Body-in-White; Chassis; Electrical/Electronics; Exterior; Interior; Powertrain. In the overall rankings, Toyota is on top for the 15 th time in 17 years, with a score of 328. Honda, the only company to best Toyota (in 2009 and 2010), comes in second, at 319. Those two companies, explains John Henke, president of PPI, have collaborative working arrangements with colleagues and suppliers alike built into the very fabric of their cultures. This, however, is not a situation where one can readily conclude it is about "Japanese companies," because the third company with headquarters on the island of Honshu, Nissan, came in dead last. This is the "How did that happen?" portion. The Nissan score of 203 puts it 125 points behind Toyota. There hasn't been a number that low since the then-Chrysler Corp. scored 187 in 2010, when the company was clawing its way out of the recession. Clearly, the suppliers don't feel particularly engaged by the buyers at Nissan. Henke explains that whether a company does well or not on the WRI is rather simple. All people do things based on what they're measured on. "If you're measured on taking 10% out of your annual buy, you immediately know how to do it. But if you're also measured on improving relations, suddenly there is a new dynamic as to what you can do to achieve both.