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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

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.

Dodge Charger Hellcat hitting 60 in 2.9 seconds on drag radials?

The Dodge boys and their cousins from SRT have shoehorned the same 707-horsepower, 6.2-liter supercharged V8 into both the Dodge Challenger and Charger. The former being a two-door, it's lighter than the latter four-door sedan. So it would stand to reason that the Dodge Challenger SRT Hellcat would be the quicker of the two, right?
Only that's not necessarily proving to be the case. On stock rubber, yes, the coupe beats the sedan: Dodge quotes a 0-60 time of 3.7 seconds for the Charger SRT Hellcat and 3.5 for the Challenger. Same gap across the quarter-mile: 11 seconds flat for the Charger versus 10.8 seconds for the Challenger. But according to recent reports, the story changes when you put both on drag radials.
While visiting Chrysler HQ in Auburn Hills, MI, TorqueNews.com caught wind of performance figures for the Charger Hellcat on drag tires: 0-60 in a mind-blowing 2.9 seconds and a quarter-mile in just 10.7. The latter figure just barely pips the Hellcat-powered Challenger's NHRA-certified figure of 10.8, making the Charger not only the fastest sedan on the market, but also the fastest muscle car. What isn't immediately clear, however, is whether the drag radials in question have any tread on them and are street-legal, or if they're pure slicks confined to a closed strip.