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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

2015 Dodge Charger darts into NY traffic

Meet the refreshed 2015 Dodge Charger; notice anything different? You would have to be pretty farsighted to miss the sedan's new Dart-like nose, and it's likely going to be quite polarizing to the car's fans. Gone are the previous furrowed, aggressive headlights in favor of a wider, friendlier look.
While the more rounded headlights and narrower grille are going to be the first thing most people notice, Dodge claims its designers have made changes to nearly every panel on the Charger. The hood dips down deeper at the front, and the doors show off a more angled version of the car's shoulder blister. LED running lights and taillights are standard on all models, and SXT and RT trims get LED foglights. Even though the front might not be as intimidating, Dodge has hung onto the sedan's muscular stance with angular contours making up the rest of the redesign.
Under the hood is the same engine range you've come to know over recent years. Both the 5.7-liter V8 and the 3.6-liter V6 return for 2015, with the Hemi making 370 horsepower and 395 pound-feet of torque, and the standard Pentestar outputting 292 hp and 260 lb-ft. All models are now equipped with Chrysler's TorqueFlight eight-speed automatic as standard. Fuel economy for V8 Chargers is predicted at 16 miles per gallon city and 25 mpg highway, compared to 15 mpg / 25 mpg last year with a five-speed automatic. All models also come with electric power steering, and the axles are cast from aluminum to save weight.

High-performance 2018 Dodge Durango SRT spied

Dodge is working diligently on revamping its lineup with new and refreshed models, including the high-performance Durango SRT due in 2017. Spy shooters captured a Durango with an aggressive front end that appears to fit the SRT bill, though it could just be a refreshed Durango. This Citadel-badged prototype is nearly identical to the current three-row SUV. The front fascia, which is being held in place by tape and has numerous rough edges, features a massive vent at the bottom and a distinct, three-holed air intake system just below the grille. The grille is also lacking the Durango's cross-like design. The front end appears to have gaping holes on both sides, with the right side being covered up by tin foil. The extra vents could be there for aerodynamic purposes, for cooling purposes, or just a pair of fog lights that Dodge doesn't want people to see. The high-performance SUV is expected to get a full makeover on the outside, which includes sportier wheels, a more aggressive hood, athletic body panels, and some aerodynamic components. The meat of the SUV, the engine, is still a mystery. While the Hellcat brothers feature a 707-horsepower, 6.2-liter supercharged V8, a previous report by Automotive News claims the upcoming Durango SRT will be powered by a 6.4-liter V8 engine. The 475-horsepower motor is currently in the Jeep Grand Cherokee SRT. Regardless of what type of engine the Durango will have, it looks like Dodge really is working on a high-performance SUV to enter the continually-growing segment. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2018 Dodge Durango SRT Spy Shots News Source: Automotive NewsImage Credit: Chris Doane Automotive Spy Photos Dodge SUV Future Vehicles Performance