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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

Dodge Charger to slim down and run turbo four in next generation

The current Dodge Charger is getting long in the tooth. It was originally introduced in 2005 as a 2006 model. In car terms, that's an eternity, though it's been refreshed twice. Still, FCA US will keep the LX-generation car going, reportedly facelifting it one last time for 2019. After that, there are some bigger changes in store . Automotive News is reporting that the follower to the current LX Charger will lose almost 500 pounds and will once again offer a turbo four-cylinder. You might remember the front-wheel-drive four-banger Charger of the early '80s. The recharged sedan will be twin-turbo and it's going to use the 300-horsepower four-cylinder engine currently under development for the 2018 Jeep Wrangler, AN says. The target weight for the future car is around 3,500 lbs, while the current car has a curb weight of nearly 4,000 lbs. Look for it to arrive in the early 2020s. The new platform will have a touch of Italian flair instead of the Daimler-Benz flavor embedded deep inside the LX cars. It will be built on an extended version of the 2017 Alfa Romeo Giulia's "Giorgio" platform, according to AN. Dealers were already shown a styling-buck almost a year ago. Related News: Featured Gallery 2015 Dodge Charger R/T View 42 Photos News Source: Automotive NewsImage Credit: AOL Alfa Romeo Dodge Future Vehicles Sedan FCA

2016 Dodge Challenger and Charger Hellcats see doubled production

The launch of the Hellcat supercharged V8 in the Dodge Challenger and Charger for the 2015 model year was a massive success. The one-two punch of muscle cars probably grabbed the brand more headlines than it had seen in ages by offering a world-beating 707 horsepower from the growling engine under the hood. The only real wrench in the works was keeping up with all of the orders. For 2016, Dodge might have fixed that little problem with plans to make more than twice as many of these mean machines Despite production seeing a massive boost, a few customers with orders for 2015 examples will need to wait just a little longer to experience those 707 ponies. The automaker will cancel any unscheduled, sold orders for the current model, but those buyers will receive a discount on the 2016. Similar to last year, dealers will earn their allocation of the muscle cars based on Dodge sales and how long the Hellcats stay on their lots. There are some very tiny changes for any buyers who are holding out for the 2016 Hellcats, too. Mechanically, they are identical to the 2015s with a 6.2-liter supercharged V8 and eight-speed automatic. The interiors see some improvements, though. Both the Challenger and Charger now receive standard Laguna Leather upholstery and an improved 8.4-inch Uconnect system with navigation, an HD radio, and five years of SiriusXM Travel Link and Traffic. Orders for both open in the second week of August, and production actually begins in September in Brampton, Ontario, Canada.