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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.

Ram recalls 30k trucks over faulty turn signals

According to the National Highway Traffic Safety Administration, Chrysler is issuing a recall of 30,197 pickup trucks in the United States, all from the 2013 model year. The affected vehicles are the Ram 1500, 2500 and 3500, all of which were built between September 9, 2012 and March 5, 2013.
The problem affects models equipped with "optional premium taillamps," and according to NHTSA, the turn signal indicator "may not flash at a double rate to give a notification to the driver of a turn signal malfunction." The report states that if a driver is unaware of a problem with the turn signals and continues to use them as normal, other vehicles on the road may not be alerted that the vehicle is turning, which increases the risk of a crash.
Other recall woes have affected the Ram line recently. In April, we reported that Ram 1500 models were being recalled due to an improper adjustment of the parking brake cable, and several thousand Heavy Duty models were being called in for engine covers that do not have as much heat resistance as they're supposed to.

Ram boss thinks midsize truck could fit in the lineup

The execs at Ram are changing their tune about the possibility of a midsize truck in the US. Nothing is certain yet, but the chances now look a little more favorable. "I think there's opportunity there in the US if you look at what's happened in the mid-size segment here – significant growth last year," Jeep and Ram boss Mike Manley told the Detroit News. "I think that space is big enough, certainly, to have two offerings there." The other product that Manley alludes to is the forthcoming Jeep Wrangler-based pickup that's due in 2017. However, there might not be much customer overlap between the Jeep and those looking for a more traditional Ram-branded model. Manley admitted the most likely candidate for a midsize Ram would be for the company to use an existing Fiat platform, according to the News. One possibility could be rebranding the Fiat Toro pickup, but it's rather small at 20-inches shorter than a Chevrolet Colorado. This greater openness to a midsize Ram is a complete change from the company's position in the past, though. Last spring, the brand's CEO for North America said he couldn't find a strategy to make the model work. FCA boss Sergio Marchionne made the same point in 2014, when he admitted the company showed a Ram 1000 at design clinics, but the response was "lukewarm." Over the past couple years, the midsize truck market has a renaissance of fresh products. The Chevy Colorado and GMC Canyon are successes both critically and commercially. The latest Tacoma is on sale, and the new Honda Ridgeline is imminent. We know Nissan has a Frontier successor under development, and there are always rumors of Ford reviving the Ranger in the US. With so much development in the segment, it's easy to see why Ram would want to be at the party. Related Video: