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Stellantis reports $15B profit in first year of merger

FRANKFURT, Germany — Automaker Stellantis said Wednesday that it made 13.4 billion euros ($15.2 billion) in its first year after it was formed from the merger of Fiat Chrysler Automobiles and PSA Group. The earnings nearly tripled profits compared with its pre-merger existence as two separate companies, as the maker of Jeep, Opel and Peugeot vehicles exploited cost efficiencies from combining the businesses. The result compared to a combined 4.79 billion euros for the separate companies in 2020 before the merger, which took effect on Jan. 17, 2021. Revenue for the combined business rose 14%, to 152 billion euros. CEO Carlos Tavares said the results “prove that Stellantis is well positioned to deliver strong performance" and had overcome “intense headwinds” during the year. Automakers have struggled with shortages of key parts such as semiconductor electronic components and rising costs for raw materials as the global rebound from the worst of the coronavirus pandemic brings more demand. The company said the benefits of the merger were worth some 3.2 billion euros during the year. Mergers can lead to streamlined costs as companies combine functions and spread fixed costs over a larger revenue base. The company accelerated its rollout of battery-powered vehicles, with sales of low-emission vehicles reaching 388,000 — an increase of 160%. Stricter environmental regulations in Europe and China are pushing automakers to roll out more electric vehicles with longer range. Stellantis started production of a hydrogen fuel cell commercial van under its Opel brand in December. Stellantis' other brands include Chrysler, Citroen, DS, Fiat, Maserati, Ram and Vauxhall. Related video: Earnings/Financials Chrysler Dodge Ferrari Fiat Jeep RAM Citroen Opel Peugeot Vauxhall

Dodge puts kibosh on Challenger ACR rumors

In 2011, after the end of the Gen IV Dodge Viper and its ACR trim, Dodge took a Challenger ACR concept to the SEMA show. In October of last year, trusted FCA-focused outlet Mopar Insiders heard from its sources that something of the kind could finally be in the works, word being the automaker "is quietly working on a surprise to help celebrate the 50th anniversary of the Challenger nameplate." Last week, trusted FCA-focused outlet Allpar got more details from its own source, "Muther," on the specs and aspirations for a Challenger supposedly meant as a last big hurrah before the next generation appears in 2023. Now, we find out the Challenger ACR is a ghost, Autoweek reporting, "According to a spokesperson from Dodge, it's not happening." That brief denial is all the automaker had to say about it. Assuming Dodge isn't hiding anything, we're more surprised at detailed erroneous intel being shared with both MI and Allpar than we are about the track-day seducement Challenger ACR being bogus. A tale about Dodge engineering a Viper-like makeover for its number one muscle car so as to shame the 2020 Ford Mustang Shelby GT500 and Camaro ZL1 around a track would have been compelling enough. But word that Dodge wanted the Challenger ACR to breathe down the dearly departed neck of the Viper ACR around Road America, well, that was a crate of Hemi-powered wild. The implied impertinence of such a target is worrisome enough, and the weight loss goal would have added an extreme dimension to the ACR brand. The Neon ACR and Viper ACR didn't give up more than 100 pounds compared to their standard counterparts. The insiders spoke of the Challenger getting under 4,000 pounds, in part thanks to an optional passenger's seat. The diet would have required losing 400 pounds in a best-case scenario, which would still leave the big coupe 500-plus pounds heavier than a Viper ACR. Back to that impertinence... We'll likely never know what really happened with the Challenger ACR, so we'll stick it in the X-Files drawer between Big Blue and Chinga. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.    

Chrysler recalls small number of 2013-2014 cars and trucks over engine debris

Chrysler is recalling a small number cars over issues with their 2.4-liter four-cylinder engines. The recall, which affects 522 examples of its 2013 Dodge Avenger and Chrysler 200 models, as well as 2014 Jeep Compass and Patriot CUVs has to do with potential debris in the balance shaft bearings.
The abrasive stuff can cause the oil pressure to drop, which could lead to the engine stalling or outright failure. This situation could at best leave drivers stranded and at worst lead to a crash.
Chrysler will begin notifying owners, who will need to report in to have the balance shaft module replaced. All repairs are naturally free of charge. Scroll down for the bulletin from NHTSA.