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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

Is Mopar readying a special-edition Dart for Chicago?

Chrysler has released the above teaser of a limited-edition Mopar 2013 model that will be unveiled at next month's Chicago Auto Show. Although the automaker doesn't announce what vehicle will get the Mopar treatment, closer investigation of the seats and center console suggest that this car will be a special version of the 2013 Dodge Dart.
This will be the fourth Mopar model in as many years, following on the heels of the Mopar 2010 Challenger, Mopar 2011 Charger and the Mopar '2012 300. There are no details for the Mopar '13 Dart, but we do see that the car will retain the signature black-and-blue color scheme as past Mopar editions. Like these previous models, we expect production of Mopar '13 Dart to be limited to just 500 units.
Scroll down for Chrysler's press release teasing the new Mopar model, and we'll be sure to bring you plenty of live images from the show floor in a couple weeks.

Preserved truck found at the bottom of frozen lake

A fisherman in central Minnesota pulled more than bluegill and bass out of his local fishing hole earlier this month. While ice fishing on Mayhew Lake, a local man was startled when, using an underwater camera to scout for fish, he discovered a vehicle sitting on the lakebed, the SCTimes reported. He immediately called the Benton County Sheriff's office, which sent deputies to examine the vehicle. Once they arrived, the deputies used their own camera to have a look and discovered a late-90s to early-00s model Dodge Ram pickup in roughly 12 feet of water. The Sheriff's department dive team was then dispatched to search the truck and the area surrounding it for bodies or valuables. The truck was lifted from the lakebed through a huge hole in the ice. The Sheriff's office ran the plates and discovered that it was reported stolen in March of 2000 from a nearby address. Investigators believe that given the truck's location, almost 100 yards from the lake's public access ramp and 25 yards from the north shore, that it was driven on to the lake while it was frozen, then allowed to sink to the bottom once the ice melted. Thanks to the lake's frigid waters, the truck was surprisingly well preserved. Aside from a missing grille, a coating of mud inside, and a patina of rust on the sheet metal, there was little damage to the truck despite its long rest in the lake. With an engine full of lake water and the damage done by roughly sixteen freeze-thaw cycles, the truck will never run again, but its condition is a good testament to the build quality of those old Rams. It certainly held up better than that '57 Plymouth Belvedere they buried in the time capsule under the Tulsa city courthouse. News Source: SCTimesImage Credit: Benton County Sheriff's Office Government/Legal Weird Car News Dodge Truck water lake