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Stellantis reports surprising 2020 results, is 'off to a flying start'

MILAN — Low global car inventories and cost cuts should boost Stellantis's profit margins this year, though a shortage of semiconductors and investments in electric vehicles could weigh on results, the newly-formed automaker said on Wednesday. The forecast came as Stellantis, created by the January merger of Peugeot-maker PSA and Fiat Chrysler (FCA), reported better-than-expected results for 2020 that sent its shares up around 3% in morning trading. "Stellantis gets off to a flying start and is fully focused on achieving the full promised synergies (from the merger)," Chief Executive Carlos Tavares said in a statement. Stellantis is the world's fourth largest carmaker, with 14 brands including Fiat, Peugeot, Opel, Jeep, Ram and Maserati. It said 2021 results should be helped by three new high-margin Jeep vehicles in North America and a strong pricing environment there. The U.S. market has driven profits for years at FCA and starts off as the strongest part of Stellantis. The group's guidance assumes no more significant lockdowns caused by the global COVID-19 pandemic, which shuttered auto plants around the world last spring. Stellantis should also get a lift as its starts to implement a plan aimed at delivering over 5 billion euros a year in savings, without closing any plants. Tavares has also pledged not to cut jobs. But a pandemic-related global shortage of semiconductors, used for everything from maximizing engine fuel economy to driver-assistance features, could hurt business. Auto industry executives have said the shortage should ease by the second half of 2021. Stellantis said its "electrification offensive" could also weigh on results this year. Automakers are racing to develop electric vehicles to meet tighter CO2 emissions targets in Europe and this week Volvo joined a growing number of carmakers aiming for a fully-electric line-up by 2030. Stellantis plans to have fully-electric or hybrid versions of all of its vehicles available in Europe by 2025, broadly in line with plans at top rivals such as Volkswagen and Renault-Nissan, although Stellantis has further to go to meet that goal. The carmaker is targeting an adjusted operating profit margin of 5.5%-7.5% this year. That compares with a 5.3% aggregated margin last year: 4.3% at FCA and 7.1% at PSA excluding a controlling stake in parts maker Faurecia, which is set to be spun-off from Stellantis shortly.

Forza Horizon 3 adds Ford Police Interceptor, Jeep CJ5

We're only a few weeks past the debut of Forza Horizon 3, and already the folks at Turn 10 are introducing the first of six car packs for the open-world driving game. Focused heavily on performance, there are still a few, um, oddballs, including one we're sure Forza's livery customizers will have a blast with. The Smoking Tire Car Pack brings seven new vehicles to FH3, with the Aston Martin Vulcan, Pagani Huayra BC, GTA Spano, Lotus 340R, and BMW M2 repping traditional performance vehicles. As per usual, FH3 renders each car beautifully and promises a solid approximation of real-world performance – even if you do ditch the roads and opt to rampage through the Australian countryside. While performance is good, the Ford Crown Victoria Police Interceptor and the Jeep CJ5 Renegade bring an off-beat vibe to this particular pack. We aren't certain, but this might be the first time the Police Interceptor appears in a blockbuster driving game. While we expect plenty of police car liveries for the Crown Vic, Forza's rabid community of tuners and customizers are sure to do much more with it. As for the CJ5, is there a better vehicle for tooling about Australia? Yeah, we didn't think so. The Smoking Tire Car Pack is available for free as part of the Forza Horizon 3 Ultimate Edition or Car Pass program. Commitment-phobes can also download this single vehicle pack for $7. Featured Gallery Forza Horizon 3: Smoking Tire Car Pack News Source: Turn 10 StudiosImage Credit: Turn 10 Studios Toys/Games Aston Martin BMW Ford Jeep Lotus turn 10 studios bmw m2 forza horizon ford crown victoria aston martin vulcan forza horizon 3 gta spano

Fiat 500X poised for Paris catwalk

We've known for some time that the new, Fiat-based baby Jeep (which may or may not be called the Jeepster) is set to arrive at the 2014 Geneva Motor Show. What we weren't sure of was whether its platform mate, the so-called Fiat 500X, would be doing so alongside or at a later date. Well, according to Reuters, we'll get to see the first all-wheel-drive 500 later this year in the City of Lights.
Yes, we can expect the 500X to arrive at the 2014 Paris Motor Show, according to an official with an Italian trade union. The unnamed source cited retooling at Fiat's Melfi factory, in southern Italy, which currently produces the Grande Punto. It's expected that the newest member of the growing 500 family will replace the Suzuki SX4-based Fiat Sedici, although when the X will go on sale remains an open question.
According to Reuters, both the Jeepster and 500X will be built alongside each other in Italy. Whether the 500X will cross the pond with it's slat-grilled cousin, though, remains to be seen (we're leaning towards yes).