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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

Ram 1500 Mossy Oak Edition ready to start Truck Dynasty in the Motor City

Throughout the last half of the 20th Century and extending into the 21st, our country has had an on-again, off-again love affair with redneck culture. Urban Cowboy begot The Dukes of Hazzard which bled into the Ernest movies, which, in turn, paved the way for the long locks of Joe Dirt and Kid Rock. These days Duck Dynasty is the ignoble standard bearer for the hillbilly way of life - a group that would undoubtedly feel right at home in the latest offering from Ram, the 2014 Ram 1500 Mossy Oak Edition.
Custom designed for the hunters, fishers and other outdoors-folks that make up the Ram customer base (according to the company's press release) the latest instantiation of the Mossy Oak boasts a liberal daubing of camouflage. The camo rides on top of your choice of Black, Black Gold Pearl, Prairie Pearl and with either a Canyon Brown or Frost Beige interior. All of the Mossy Oak Edition trucks are 4X4s with a Crew Cab body, perfect for hauling your hunting buddies out into the wild places of the world.
Fashionable redneck culture doesn't come cheap apparently; the Ram 1500 Mossy Oak Edition starts at $39,985 with a $1,195 destination fee.

Ram reveals 2014 truck lineup, EcoDiesel V6 a $2,850 option on 1500 models

The fullsize pickup truck market is as competitive now as it's ever been, and with Ford's F-Series line leading the way in sales, GM's Chevrolet Silverado and GMC Sierra twins boasting brand-new designs, you knew Ram wasn't about to rest on its laurels for the 2014 model year.
And so we present to you the 2014 Ram lineup, with the biggest change being the addition of an optional 3.0-liter EcoDiesel engine for the 1500 model (the same powerplant that's gotten rave reviews in the latest Jeep Grand Cherokee) and the proliferation of the eight-speed TorqueFlite transmission across the entire model range. That engine boasts 420 pound-feet of torque to go along with its 240 horsepower, which means it ought to be able to tow just about anything the 5.7-liter Hemi can, while returning significantly better fuel mileage. Sadly, Ram has not yet released official estimated mpg figures, though it is claiming best-in-class results (though there aren't any other light-duty diesel pickups to compare against).
Standard on Ram 1500 is the Pentastar V6 engine that was introduced for the 2013 model year, pushing 305 horsepower and 269 lb-ft of torque, and the Hemi V8 is optionally available with 395 horsepower and 410 lb-ft of torque. All engines are mated to the eight-speed automatic. The previously available 4.7-liter V8 has been dropped for 2014.