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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.

Chrysler recalling over 200k vehicles across its brands

With more than 200,000 units across six separate recalls and almost all of its brands, it appears that Chrysler has officially jumped headfirst into the recall pool this month. The National Highway Traffic Safety Administration has issued three official recalls for the automaker, and The Detroit News is reporting that the automaker itself has announced three more.
The biggest of the recalls applies to about 120,000 Dodge Charger, Dodge Challenger and Chrysler 300 models for 2011 and 2012 due to faulty wiring harnesses for the seat-mounted side airbags, which could lead to these airbags not deploying in the event of a crash. A little more than 60,000 two-wheel-drive versions of the 2007-2008 Dodge Nitro and 2008 Jeep Liberty SUVs are being recalled due to a heat shield that could cause the driveshaft to break, which if that isn't bad on its own, could then hit underneath where the airbag sensor is mounted, causing the airbags to deploy. Wrapping up NHTSA's recall notices, about 20,000 Jeep Patriot and Jeep Compass models for 2012 are also being recalled due to a problem with the fuel tank transfer tube that could lead to the vehicle stalling. The LX car recall campaign is going into effect this month, while the other two will start next month - all three notices are posted below.
In addition to the official NHTSA recalls, The Detroit News is also reporting that Chrysler is recalling more than 16,000 Ram trucks and a small number of Dodge Dart sedans. Around 6,500 2013 Ram 1500 trucks will be recalled due to an improper adjustment of the parking brake cable from the factory, while 7,000 Cummins-powered 2013 Ram Heavy Duty trucks are being recalled due to an engine cover that does not have as much heat resistance as it is supposed to. Finally, a total of 46 Dodge Dart sedans are being recalled due to a problem with the brake calipers and/or parking brake.

Daily Driver: 2015 Ram ProMaster Cargo

Daily Driver videos are micro-reviews of vehicles in the Autoblog press fleet, reviewed by the staffers who drive them every day. Today's Daily Driver features the 2015 Ram ProMaster Cargo, reviewed by Seyth Miersma. You can watch the video above or read a transcript below. Watch more Autoblog videos at /videos. Show full video transcript text [00:00:00:00] I'm in a vehicle that really kind of belies the name of this video series, Daily Driver. This is the 2015 Ram Promaster Cargo Van. I'm in the high roof extended length version of it. You can see that it's got an empty cargo bay behind me. It's a little strange because what I'm doing right now is commuting in it, which is definitely not what this van is made to do. The single strongest attribute of the Promaster [00:00:30:00] package that I found was its maneuverability at low speeds in and around town. That wasn't really something that I expected. I knew from driving the rest of the big vans in this segment. I've been in various Sprinters over the years, although not the brand new one, and I put a lot of miles actually on a Nissan NV. They're all meant to be more nimble than they would seem from their exterior, but the Ram just feels kind of a class above. It turns on a dime. It's really, really easy to [00:01:00:00] pull up close to a curb or another car and be able to just get in and out of a space with very little room around you. I had no problem getting up to speed with the rest of traffic. Merging and passing aren't really an issue. Sometimes you'll hear her struggle a little bit if you really put your foot in and you're trying to get around somebody, but that's just wind resistance and curb weight man, that's too be expected. Another aspect that I was really impressed with with the Promaster is the 3.6 [00:01:30:00] liter V6 engine, both in terms of its performance and its economy. It's putting out out 280 horsepower, 258 pound-feet of torque. It's a huge van. It's not quick. The cargo area back there is really nice. Not only is it tall enough that I can stand up in it. I mean, this vehicle is close to nine feet overall from the exterior dimensions. Access to the cargo area is just as easy as you would hope for too. You got a big, big sliding door over here. The rear doors open completely [00:02:00:00] flat so that it's easy to both maneuver and to get stuff in and out, obviously. The load floor is pretty low. Easily accessible. You've got the Uconnect screen with the nicer head unit.