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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

Ram 1500 Mossy Oak Edition ready to hit the woods

Among all the debuts at the Detroit Auto Show next week, Ram will remove the ghillie-suit veil from its 2014 Ram 1500 Mossy Oak Edition, but the truck's bigger - and more fitting - debut will take place later in the week at the Shooting, Hunting and Outdoor Trade (SHOT) Show in Las Vegas. The new Mossy Oak Edition is aimed at hunting, camping and fishing enthusiasts, and it will go on sale within the next couple of months with a base price of $39,985, not including $1,195 for destination.
With plenty of accolades already in the bag for 2013 (including Motor Trend Truck of the Year and Truck of Texas), the 2014 Ram 1500 is definitely getting plenty of attention, and the new camouflage job from Mossy Oak should help get a few more eyeballs on this truck. Starting with the Ram 1500 4x4 Crew Cab Outdoorsman, this special edition is only offered in three exterior colors - Black, Black Gold or Prairie Pearl (shown above) - to go with the Mossy Oak camouflage along the lower edges of the body as well as the upper edge of the cargo bed. Unlike the previous Mossy Oak Edition (2011-2012), buyers can now opt for the innovative RamBox system in which to store plenty of hunting, camping and fishing gear.
Inside, there's more camo on the center stack and door panels, and the headrests are embroidered with the Mossy Oak logo. Like the Outdoorsman, the Mossy Oak Edition comes standard with cloth seats in two available colors, but it adds in a new option: Katzkin leather in Espresso Tuscany with the Mossy Oak logo embroidered into the seatbacks. Scroll down for more information on the 2014 Ram 1500 Mossy Oak Edition.

Chrysler recalling 278,222 trucks and SUVs over bad rear axles

Chrysler has issued a recall of 278,222 light trucks and sport utility vehicles here in the United States. The reason: bad rear axles. Specifically, according to the National Highway Traffic Safety Administration, the rear axle pinion nut may lack a necessary adhesive patch, which could cause the nut to loosen. If this happens, the axle can lock up, which could cause all sorts of havoc on the road.
This is an expansion of the rear axle recall announced in October of last year, where 44,300 Ram 1500 and Dodge Dakota models were being called in. At that time, 12 accidents had been reported due to the faulty axle pinion nut.
Affected vehicles include Ram 1500 trucks from the 2009 to 2012 model years, Dodge Dakota models from the 2009 to 2011 model years, and both the Chrysler Aspen and Dodge Durango SUV twins, both from the 2009 model year only.