2006 Chrysler Town And Country Van With Wheelchair Lift Electric Chair Scooter on 2040-cars

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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

Chrysler purchases remaining shares from VEBA Trust, announces funding plan

It's official: The Detroit Three is now The Detroit Two and The Fiat Subsidiary, Chrysler. Both the Italian carmaker and The Pentastar announced the completion of cash payments and a Memorandum of Understanding (MOU) on future payments necessary to make the Chrysler Group a wholly-owned subsidiary of Fiat. As previously detailed, Chrysler made a cash payment of $1.9 billion and Fiat North America made a cash payment of $1.75 billion to the Voluntary Employment Benefit Association (VEBA) run by the United Auto Workers union.
On top of that, Chrysler Group signed an MOU that agrees to payments of $700 million to the VEBA in four installments, the first of which was made concurrently with the other cash payments. And for you trivia mavens, the full name of the UAW is the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America. So go impress your loved ones with that nugget after you check out the press release below.

Ram 1500 mule caught sporting Mega Cab configuration

Our intrepid spy photographers have once again captured an unusual test mule out in the wild. This time we have a Ram 1500 that looks a little lengthy in the middle. We're pretty certain this is a 1500 and not a heavy duty model judging from the grille and hood. That said, FCA clearly went to great lengths to hide the cab. It's still clear that the rear section is longer than your typical quad cab, leading us to believe that the Mega Cab option will return to the 1500 line. Other interesting details are the covered tailgate and the Chrysler steering wheel in the interior. We're not entirely sure why it's covered up, as it doesn't appear to have a different function, but there could be some styling tweaks for a new trim level. The one part we can see is the tailgate handle, which may reveal some updated camera abilities as the normal location shows a differently shaped camera lens. There are also two small spots that could be cameras, but it's tough to say for sure. Will we see 360-degree imaging on the next Ram? The steering wheel is an unusual inclusion as well. Our photographer suggests that it could be necessary for using the latest UConnect infotainment system. Other than the wheel though, the interior looks identical to the current model. This updated cab option also leaves us wondering about the future of the Ram line. We have documentation that shows FCA plans to launch some type of refreshed Ram for the 2018 model year. So it's possible we're looking at an early test mule for that updated model, and the new cab option could be launched at the same time. In many ways, this Ram brings up more questions than answers. Related Video: