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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

FCA seeks partner to keep building Dodge Dart, Chrysler 200

Mere weeks after FCA announced it was shutting down production of the Dodge Dart and Chrysler 200, new hope emerges to give the sedans a stay of execution. Speaking at the Geneva Motor Show last week, Sergio Marchionne said that the company was looking for a partner "who is better at it than we are and who has got capacity available" in order to continue building the models on its behalf. "There are discussions going on now," said Marchionne, according to Motor Trend. "I think we will find a solution. We continue to talk. It's both a technical solution and an economic one. We need to find a solution that works economically." Contracting vehicles to be manufactured offsite is more common practice among European automakers than it is with American ones. Chrysler's former patron Mercedes, for example, has the G-Class built for it by Magna Steyr in Austria, the A-Class by Valmet in Finland, and the R-Class by AM General in Indiana (even though it's no longer sold in the US). This arrangement would, on the surface at least, appear more similar to the deal that Toyota struck with Mazda to build the Scion iA, drawing on the contractor's expertise and capacity to build the small sedan on the client company's behalf. Only rather than basing a new model on one of the partner's existing ones, this deal would ostensibly continue building FCA models on FCA platforms using FCA components. We'll have to wait to find out with whom FCA strikes up the manufacturing deal, but we wouldn't be surprised to see Marchionne turn to a partner he already knows. The company is, after all, at the center of an intricate web of joint ventures and manufacturing contracts. The Fiat 124 Spider, for example, is built by Mazda. The Fiat Sedici that preceded the 500X was built by Suzuki. Models like the Dodge Stealth and Eagle Talon were built in Illinois at the Diamond-Star Motors joint venture before Mitsubishi took it over altogether. And Dodge continued selling the Mercedes-made Sprinter long after DaimlerChrysler split. The Ram ProMaster, though built by FCA in Mexico for the North American market, stems from a partnership in France with PSA Peugeot Citroen. And the ProMaster City is built in a joint-venture plant in Turkey, from which it's also sold by GM as an Opel in Europe and a Vauxhall in the UK. With all those deals coming and going, after all, what would one more add to the complexity?

8 things you learn while driving a cop car [w/videos]

Let me start off with the obvious: it is absolutely illegal to impersonate a police officer. And now that that's out of the way, I'd just like to say that driving a cop car is really, really cool. Here's the background to this story: Dodge unveiled its redesigned 2015 Charger Pursuit police cruiser, and kindly allowed Autoblog to test it. That meant fellow senior editor Seyth Miersma and I would spend a week with the cop car, and the goal here was to see just how different the behind-the-wheel experience is, from a civilian's point of view. After all, it's not technically a police car – it isn't affiliated with any city, it doesn't say "police" anywhere on it, and it's been fitted with buzzkill-worthy "NOT IN SERVICE" magnets (easily removed for photos, of course). But that meant nothing. As Seyth and I found out after our week of testing, most people can't tell the difference, and the Charger Pursuit commands all the same reactions as any normal cop car would on the road. Here are a few things we noticed during our time as wannabe cops. 1. You Drive In A Bubble On The Highway Forget for a moment that our cruiser was liveried with Dodge markings instead of those of the highway patrol. Ignore the large "NOT IN SERVICE" signs adhered around the car. Something in the lizard brain of just about every licensed driver tells them to hold back when they see any hint of a cop car, or just the silhouette of a light bar on a marked sedan. Hence, when driving on the highway, and especially when one already has some distance from cars forward and aft, a sort of bubble of fear starts to open up around you. Cars just ahead seem very reluctant to pass one another or change lanes much, while those behind wait to move up on you until there's a full herd movement to do so. The effect isn't perfect – which is probably ascribable to the aforementioned giveaways that I'm not really a cop – but it did occur on several occasions during commutes from the office. 2. You Drive In A Pack In The City My commute home from the Autoblog office normally takes anywhere from 25 to 30 minutes, and it's a straight shot down Woodward Avenue from Detroit's north suburbs into the city, where I live. Traffic usually moves at a steady pace, the Michigan-spec "five-over" speed.