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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

12 new cars that will never go out of style

Some cars never go out of style. It’s rare, but it happens. They get old. They get depreciated. But they never stop looking cool.  Some might call them modern or instant classics. Within a few years theyÂ’re no longer the latest and greatest, no longer the flavor of the month, but they remain special. Eternally special. Timeless.  These cars arenÂ’t necessarily going to be worth a fortune someday. However, some may not depreciate as rapidly or as far as other models. But thatÂ’s not what weÂ’re talking about here. These are the cars that enthusiasts will always find desirable from the curbside. TheyÂ’re the cars you end up shopping on eBay late at night 10 years later because you canÂ’t get them out of your head. TheyÂ’re the cars that will forever excite you when you spot a clean one in traffic or in a parking lot.  There are plenty of recent examples over the past couple of decades that could count as instant design classics. But then we got to thinking, what 2021 models will be forever cool to stare at? Which new cars and trucks on sale today will we be shopping on eBay late at night in the 2030s? We kept supercars and other ultra-expensive cars off the list to keep things within the realm of attainability, and ended up with 12 total cars. Lexus LC WeÂ’re not applying a numerical ranking to any of the cars on this list, but if we were, the Lexus LC would be No. 1. There isnÂ’t another car design out there that can stir our emotions the way an LC can when itÂ’s just standing still. This car is a concept design come true in the most beautiful of ways, and itÂ’s a shoo-in winner for Concours events decades into the future. All of this heaping praise, and we havenÂ’t even gotten to the LC 500Â’s intoxicating 5.0-liter V8. It doesnÂ’t win drag races. It wonÂ’t be the fastest around the track against any similarly-priced competition. But none of that matters. ItÂ’s quite possibly the best car you can buy new, and that says it all when it comes to the LC. Chevrolet Corvette It might not be the stunner that the Lexus LC is, but the new C8 Corvette is and will always be a special vehicle. ItÂ’s the first mid-engine Corvette, which instantly cements it into an automotive hall of fame section of sorts. All of the performance stats and specs are there to back up its supercar-like looks, and it remains the best performance bargain on sale today.

Top 11 Lego Technic cars to buy on Amazon in 2024

Autoblog may receive a share from purchases made via links on this page. Pricing and availability are subject to change. I recently got a birthday wish list from my 11-year-old nephew, and I couldn't help but smile when I saw “Lego Technic Cars” at the top. Lego isnÂ’t a phase, itÂ’s a lifestyle. Once a Lego fan, always a Lego fan. In fact, IÂ’d be willing to bet that many of you reading this right now have some kind of Lego vehicle in a box somewhere, or better yet, on display in your home. While theyÂ’re not necessarily cheap, getting into building Lego Technic vehicles doesnÂ’t have to bankrupt you, either, unless you go for the $400 Lamborghini right off the bat. Here are 11 of our favorite Lego Technic vehicles on Amazon, right now, ranging from an affordable $35 all the way up to $450. LEGO Technic Ford Mustang Shelby GT500 Ages 9+ (544 Pieces) - $39.99 (20% off) One of my first and favorite model cars growing up was a first-gen Ford Mustang GT350, so this GT500 for under $40 is right up my alley. At 544 pieces and made for ages 9 and up, the GT500 is a considerable step up from Grave Digger but a great starter to a Technic collection nonetheless. It isnÂ’t the most accurate-looking vehicle in this list, but the AR app and the fact that it can drive make it a worthwhile purchase. $39.99 at Amazon LEGO Technic Formula E Porsche 99X Electric Ages 9+ (422 Pieces) - $49.99 Not a Ford fan? Not a problem. This Formula E Porsche 99X is the same price and better looking than the GT500. Even though there are 122 fewer pieces in this Porsche set, it has a level of detail seen in much more expensive Technic sets including numerous decals and a pull back motor.  $49.99 at Amazon LEGO Technic Jeep Wrangler Ages 9+ (665 Pieces) - $54.99 This is the set I ended up going with for my nephew, not because I think it is the coolest, but because for the price, I think you get the most bang for your buck. 665 pieces is over 50% more than the comparatively priced Porsche 99X and it also scratches the nostalgia itch for me: The first-ever model vehicle I built was a yellow Jeep Wrangler Sahara. This Wrangler Rubicon has definitely had some aftermarket mods like the front winch, which makes it one of the coolest Technic sets under $60.  $54.99 at Amazon LEGO Technic Monster Jam Grave Digger Ages 7+ (212 Pieces) - $34.16 If ever there was a gateway Lego Technic, this Grave Digger is it.