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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

Chop the top of your new Dodge Viper for $35,000

We have good news, and we have bad news. First, the good: It's now possible to get a brand-new Dodge Viper roadster, which is nice, considering we're in the dead of summer and many of us like wind-in-the-hair motoring. Now, the bad: This is not a factory option from the automaker, instead coming courtesy of an aftermarket company called Prefix Performance, and that means it's going to cost you some serious coin.
Called Medusa, this drop-top Viper was created without the knowledge or consent of Dodge, but that's probably fine because Prefix works with the automaker already for the final preparation of the American supercar, including paint. According to the company, the current, fifth-gen Viper was built with a convertible version in mind, so no chassis strengthening is required. From the looks of the somewhat grainy photos available, the conversion appears of very high quality.
Want one? Well, that means you're going to need to procure a Viper - Prefix has 10 units ready for transformation as it stands - and that's going to cost at the very least $102,485. Then, you'll need to write a check for an additional $35,000 for Prefix to surgically remove the car's roof. Thing is, for that kind of cash, a prospective owner could buy, among other very nice options, a Viper hardtop and a loaded Miata, or a Corvette Stingray convertible and several pockets full of change. Or, perhaps a new Viper hardtop and a used, first-gen Viper convertible?

2015 Dodge Charger SRT Hellcat revealed [UPDATE]

Almost immediately after we drove the 2015 Dodge Challenger SRT Hellcat, we began wondering: what's next? Pumping 707 horsepower into the Challenger seemed so crazy - and so intoxicating - we just assumed that Dodge would try that trick again.
Rumors swirled about a Charger Hellcat. Frankly it makes even more sense than the Challenger version. The Charger is a bigger car, and Dodge has never been shy about dropping monster engines under its hood. Hell (cat), we've seen Charger mules running around town that appeared to be the super sedan.
And finally, it's here. The 2015 Dodge Charger SRT Hellcat was revealed today at a preview event near Detroit, and it will be a centerpiece of the Chrysler display this weekend at the Woodward Dream Cruise.