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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

Redonkulous Dodge Charger is ridin' high

We're a bit hazy on the styling of this particular donk, which was recently spotted hashing about by HotCarsTV at the Southern Heritage Classic Car show in Memphis. Sporting a dope paint job and some wheels that make a blunt statement about what the driver enjoys, it's a unique take on the popular customizing trend.
The owner may be kiefing it real with the theme on this Dodge Charger, but when your car looks like this, it's easy to weed out from the crowd. Chronic police stops must also make it a pain to drive on a regular basis, though. Even with the big wheels, we bet the driver still finds time to light 'em up. Take a look down below for a brief video of this outrageous mean green machine on the road.

Dodge lets us drive 100-years' worth of history [w/videos]

A raft of important production models from the last hundred years were available for me to either drive or ride in.
Dodge is 100 years old this year. So, as happened on Ford's recent centennial, the 50-year birthday of the Porsche 911, and others, the company has an excuse to trot out the highlights of its history next to its upcoming model lineup, and declare that "these are the fruits of the Dodge Boys' tree whose roots have grown strong." Or something like that. Never so hampered by marketing skepticism that I'll pass up the opportunity to burn someone else's rubber, I was happy to drive out to Meadow Brook Hall in Rochester Hills, MI - former grand estate of the Dodge family - to hear the spiel.