Abarth New Manual Convertible 1.4l Cd Black Seats Turbocharged Front Wheel Drive on 2040-cars

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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

Sell your own: 2015 Fiat 500 Abarth

Looking to sell your car? We make it both easy and free. Quickly create listings with up to six photos and reach millions of buyers. Log in and create your free listings. Bred from the rich postwar history of Fiat and its competition counterpart, Abarth, Fiat Chrysler reintroduced the Fiat 500 Abarth to US showrooms in 2012. It had been a long time since US drivers had access to a small, easy-to-park Italian package. Mini's Cooper S provided Fiat Chrysler with the market research, and like Burger King locating next to a McDonald's, Fiat's 500 Abarth was ushered into US showrooms. With the 500 delivering just over 100 horsepower, the Abarth (a-BART) supplies a full 160 horsepower to the front wheels, along with an oh-so-flexible 170 pound-feet of torque. Driving through a five-speed manual (or available automatic), and planted on a short 90-inch wheelbase, the 500 Abarth offers the engagement your friends (prior to the iPhone) used to provide. Our 'for sale' 2015 example, located in Prescott, Arizona, looks to be in good cosmetic condition. With but 24,000 miles it should have plenty of high-revving life left in it. We'd always suggest a pre-purchase inspection, and those with rural zip codes should consider Fiat dealer support. But if looking for bang-for-the-buck (and the seller's 'ask' is right where it should be), there are few better options this side of $20,000. Please find the listing here. Related Video:

Strike looms for FCA workers as soon as Wednesday night

A strike is on the very near horizon for at least some United Auto Workers members at FCA US. On October 6, the union sent a letter to the automaker that officially announced the termination of its agreements with the company as of 11:59 PM on Wednesday, October 7. Assuming that a deal or extension hasn't happened by that time, workers could hit the picket line. While neither side is talking much publicly, it does appear that negotiations are still underway. In a very brief statement, the automaker simply says: "FCA US confirms that it has received strike notification from the UAW. The Company continues to work with the UAW in a constructive manner to reach a new agreement." The UAW seems equally receptive, and it says in a post on Facebook: "Negotiations with FCA continue. Your bargaining team is hard at work and we will continue to post updates when there is more to report." If a strike happens, it could put a serious financial burden on FCA US. Economist Sean McAlinden from the Center for Automotive Research estimates the cost at as much as $40 million per week, according to Reuters. The union hasn't clarified at this time whether all of its workers with the automaker would stop working or if the picket lines would only be at specific plants. The first tentative agreement posted to UAW members working with FCA US utterly failed in voting. Raises and a healthcare co-op would have been among the new benefits. However, the employees were upset that the proposed deal retained a two-tier wage structure, and they also didn't like the lack of details about rumors of major production changes.