1972 Lancia Fulvia 1.3s on 2040-cars

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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

Lancia Ypsilon HF gets back to brand's rally racer heritage

At the end of 1992, Lancia walked away from the Martini-sponsored Delta HF Integrale 8V race car and the World Rally Championship a winner, drivers Juha Kankkunen and Didier Auriol delivering the Constructor's Championship. We haven't seen a racy factory-backed Lancia since, nor one that races. The dry spell is over, the Italians unveiling their new Ypsilon HF, the hot-hatch version of the standard Ypsilon, and a motorsports version for FIA Group Rally4. Starting with the street car, it gets the powertrain shared with the Alfa Romeo Junior Veloce, a single electric motor turning the front axle. Instead of the e-motor making 154 horsepower as in the standard Ypsilon, the Ypsilon HF makes 237 hp, shortening the dash to 62 miles per hour to 5.8 seconds, which is 2.9 seconds quicker than the plain Ypsilon.  Handling credentials get upgraded with a wider track and lowered suspension. The package is made to look the part with a sharper front fascia, the much larger lower intake bearing the HF logo and the side intakes getting black underlining. We haven't been given a view of the rear, but we expect there are flourishes there as well, perhaps even the large black bumper seen on the rally racer. A set of six-spoke wheels complete the attitude adjustment.     Because the World Rally Championship hasn't gone electric yet — and gave up on hybrids after just three years — the Ypsilon Rally 4 HF slides a 1.2-liter three-cylinder gas-powered mill up front. That engine sends 209 hp to the front wheels through a five-speed transmission and a limited-slip differential. A pair of hood scoops aid engine cooling, a roof scoop at the top of the windshield does the same for driver and co-driver. The white, 15-spoke wheels look back to the multi-spoke wheels on the Delta Integrale, and we'll be looking to the start line next year to see if the real racer gets Martini sponsorship. The way Lancia worded its press release, we suspect the Rally 4 car will also be pitched to privateers as "a serious candidate for drivers aspiring to victory in the R4 class and in the two-wheel drive championships." These two cars set the template for future HF makeovers already promised for the eventual Gamma crossover and reborn electric Delta. Another question we have, especially now that hybrids are taking the fore, is whether the Ypsilon with the mild-hybrid powertrain has a chance of getting the HF treatment.

Stellantis says its 2021 performance has been better than expected

MILAN — Stellantis softened up investors ahead of its electrification strategy event on Thursday by flagging that 2021 got off to a better-than-expected start despite a chip shortage that has hit automakers worldwide. Stellantis, which was formed in January from the merger of Italian-American automaker Fiat Chrysler and France's PSA, faces an investor community keen to hear how it plans to come up with a range of electrified vehicles (EVs) to rival Tesla. At its "EV Day 2021" kicking off at 1230 GMT, Stellantis will disclose significant investments in electrification technology and connected software as it aims to be an industry frontrunner, it said in a statement. In April, Chief Executive Carlos Tavares said it would offer low-emission versions — either battery or hybrid electric — of almost all of its European models by 2025, and they should make up 70% of European sales and 35% of U.S. sales by 2030. Stellantis, the world's fourth-biggest automaker, has 14 brands in its stable, including Jeep, Ram, Opel, Fiat, Peugeot and Maserati.   Stellantis EV Day coverage: Dodge will launch the 'world's first electric muscle car' in 2024 Fully electric Ram 1500 will begin production in 2024 Jeep will have 4xe plug-in hybrid models across the lineup by 2025 Stellantis teases mystery electric Chrysler concept Stellantis previews 4 electric platforms: Here's how they'll be used Fiat says all Abarth models to be electric from 2024 Opel Manta E will be the electric revival of the classic German coupe Stellantis says its 2021 performance has been better than expected   At a similar EV strategy event last week, French rival Renault announced that 90% of its main brand models would be all-electric by 2030, whereas previously it had included hybrids in its target. Germany's Volkswagen, the world's second-biggest automaker after Toyota, expects all-electric vehicles to make up 55% of its total sales in Europe by 2030, and more than 70% of sales at its Volkswagen brand. Stellantis said its margins on adjusted operating profits in the first half of 2021 were expected to exceed an annual target of between 5.5% and 7.5%, despite production losses due to a global shortage of semiconductor supplies. Stellantis shares listed in Milan were down 2.6% at 0920 GMT, underperforming the broader European car index. Bestinver analyst Marco Opipari said Thursday's news was positive but that the stock was suffering from profit taking as it had moved up about 20% since the end of April.