1970 Dodge Challenger R/t Se 440 4 Spd. Extremely Rare 1 Of 400 on 2040-cars

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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

Trump tells Detroit 3 CEOs he wants more US jobs, calls environmentalists 'out of control'

As expected, President Donald J. Trump met with top executives from FCA, Ford, and General Motors this morning as part of a larger push to generate jobs in America. "I want new plants to be built here for cars sold here!", Trump said in a tweet ahead of the meeting. Not everything said in the meeting was made public, but the President later tweeted that he had a "Great meeting with automobile industry leaders." FCA CEO Sergio Marchionne, Ford chief Mark Fields, and GM's Mary Barra all echoed the positive vibes after the meeting. In a statement, Barra called the discussion "very constructive and wide-ranging," adding that it focused on "policies that support a strong and competitive economy and auto industry," and "that supports the environment and safety." That's noteworthy, because Trump is reported to have said "I am to a large extent an environmentalist. I believe in it, but it's out of control." Fields, speaking to reporters after the meeting, said, "We're excited about working together with the president and his administration on tax policies, on regulation and on trade to really create a renaissance in American manufacturing." The Ford CEO was specifically talking about Trump's withdraw from the Trans-Pacific Partnership. "We've repeatedly said that the mother of all trade barriers is currency manipulation, and TPP failed in meaningfully dealing with that, and we appreciate the president's courage to walk away from a bad trade deal," he said. Marchionne focused on American manufacturing in his statement after the meeting. "I appreciate the President's focus on making the US a great place to do business. We look forward to working with President Trump and members of Congress to strengthen American manufacturing." Perhaps equally as interesting as what was said and who was invited are what wasn't said and who wasn't invited. Trump has been very vocal about his distaste for US automakers' plants in Mexico, but no mention was made of the North American Free Trade Agreement by Trump or any of the Detroit CEOs after the meeting. We also have to wonder if Trump plans to meet with representatives from German, Japanese, and Korean automakers that have made massive investments into American plants and produce a large number of cars in this country. Related Video: News Source: Reuters, General Motors, Fiat Chrysler Automotive, Donald J.

Hellcat no help to Fiat-Chrysler's bottom-of-the-pile mpg average

What, you expected the "fastest muscle car ever" to help fleetwide fuel economy? Nope, don't think that's going to happen. That means Fiat Chrysler will likely to continue to languish at the bottom of the heap when it comes to fleetwide fuel economy among the largest automakers serving the US, especially as the automaker starts to sell its Dodge Challenger SRT Hellcat. A few hundred Fiat 500E electric vehicles aren't going to turn the trend around. See, Chrysler has once again finished at the bottom of the list when it came to fleetwide fuel economy among automakers for 2014 model-year vehicles, according to a preliminary study by the US Environmental Protection Agency. Chrysler and Fiat had an average of 21.1 miles per gallon. That substantially lagged the overall 24.2 mpg average, but it was an increase from the company's 20.9 mpg average last year and the 20.1 mpg average two years prior. For 2014, General Motors had the second-worst fleetwide fuel economy at an even 22 mpg. Fiat Chrysler does say it's working on improving its fuel economy, according to Automotive News. The company plans on making its inline-four-cylinder and V6 engines smaller, and will sell more vehicles with eight- and nine-speed transmissions. Heck, there's even a plug-in hybrid version of the Chrysler Town & Country minivan in the works for late 2015, and the company can tout fuel-efficiency gains with the Chrysler 200 and Jeep Cherokee. We would be remiss if we didn't note that, compared to its muscle-car forefathers, the Hellcat actually performs pretty well at the pump. Last month, word got out that the 2015 Challenger Hellcat, equipped either with a six-speed manual or an eight-speed automatic transmission, got a combined fuel economy of 16 mpg. Heck, the automatic-tranny version got 22 mpg on the highway. And that's for a car with 707 horsepower and a 10-second quarter-mile time. Still, with the pedal floored, the car can burn a gallon and a half of fuel per minute. Ouch.