2013 Laramie Longhorn Crew 4x4 Navigation Sunroof Leather Heated Cummins Diesel on 2040-cars

Auto blog

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

2015 Fiat Ducato and French siblings get prettier face, finer features

The Ram ProMaster only introduced itself to US buyers - prognathous jaw first - last year, but it might quickly be the recipient of some plastic surgery. Above is the new face of the 2015 Fiat Ducato, which does duty as our ProMaster, the Citroën Jumper and the Peugeot Boxer and will be officially unveiled on May 12. Its face still slopes forward all the way to the bottom, but the distance and weight of the jutting chin has been greatly reduced by curving lines that more artfully integrate the new three-piece bumper with the sheetmetal. That bumper can be had in two colors, and the front end also gets new, sleeker headlights with LED DRLs.
Trims are named Classic, Tecno and Lounge, and all benefit from ESP, a new underride guard and an upgraded cockpit with touches like better seats, Bluetooth and a clipboard that can be affixed to the dash and is robust enough to hold smartphones and tablets. High-zoot options - which would give the ProMaster better fight against the Mercedes Sprinter if they carry over to our market - include lane departure assist.
The Ducato will come with choices of three roof heights, four lengths and eight capacity ratings. You'll find info on that and much more in the press releases from Fiat and Peugeot below, and we'll find out more about how the ProMaster will benefit in a few weeks.

Chrysler banks $507 million in Q2, trims 2013 earnings forecast

Chrysler has some good news and some bad news. First, profits were up 16 percent over the second quarter of 2012, bringing the Auburn Hills, Michigan-based manufacturer $507 million on the back of strong demand for trucks and SUVs (a recurring theme this quarter, particularly in the US). Q2 revenue was up as well, from $16.8 billion in 2012 to $18 billion in 2013. The bad news is that the Pentastar's overall earnings forecast for net income in 2013 has been trimmed from $2.2 billion to between $1.7 and $2.2 billion, according to Automotive News.
In addition to the adjusted net income forecast, Chrysler tweaked its operating profit from $3.8 billion to between $3.3 and $3.8 billion. This has gone largely unexplained by Chrysler, perhaps hoping the news of a three-percent increase in its transaction prices for Q2 will allow it to sweep this adjustment under the rug.
The star of the show for Chrysler has been its US sales, which saw a 10-percent jump, both bettering the industry average of eight percent and improving over the same stretch of 2012. As with the increase in transaction prices, Chrysler has the new Ram pickup and Jeep Grand Cherokee to thank. Perhaps most worrying from this report, though, is that every brand in the automaker's stable saw an increase in sales... except for the Chrysler brand itself.