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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

Inner Demon revealed: 840 hp and other jaw-dropping details

After months of teasers, rumors, cryptic messages, and veiled hints, the 2018 Dodge Challenger SRT Demon is finally here, and it's as wonderfully insane as we hoped it would be. Finally we know the facts and figures that Dodge has been hinting at for so long. 840 horsepower. 770 lb-ft of torque. 2.3 seconds to 60 mph. A quarter-mile run of 9.65 @ 140 mph. While pricing hasn't been announced, Dodge is trying to keep it under $100,000. That horsepower figure makes this the most powerful production V8 ever. With those 0-60 and quarter-mile times, it's also NHRA certified as the quickest production car ever. Someone with the means needs to line a Demon up against a Tesla Model S P100D. All that power and all of the Demon's trick launching software and hardware will throw a driver back against their seat with 1.8 Gs. Drivers will be seeing a bit of sky, as the Demon is the first production car to pull a wheelie from a dead stop. Yes, this is all totally and 100 percent street legal. View 48 Photos In order to make all this power, the red-painted supercharged 6.2-liter Hemi V8 has been significantly improved over the Hellcat. It's equipped with a larger 2.7-liter supercharger that turns the boost up to 14.5 psi, redlines at 6,500, and has what Dodge is calling SRT Power Chiller, a system that uses the air conditioning to cool the air coming in through the new Air Grabber hood scoop. In order to keep your engine running time and time again, there is an after-run cooler than cools the supercharger after the car is shut off. The pistons and connecting rods have been strengthened to deal with the higher load. In order to feed enough juice into the engine, the Demon uses dual fuel pumps. We assume that a decent EPA rating wasn't on the top of the engineer's list. Oh, and the Demon can run on 100-octane with the press of a button. With the traditional SRT black and red keys, the Demon actually has three horsepower ratings: 500 with the black key, 808 with the red key, and the full 840 with the red key and 100-octane fuel. Don't worry, even if you have the black key, the Demon will drop the 1/4 mile in 11.59 seconds, still quicker than almost anything around. Most of the rest you already know from the seemingly endless teasers. The Demon wears lightweight wheels with sticky 315/40R18 Nitto drag radials at all four corners.

What's big at the Chicago show | Autoblog Podcast #503

On this week's podcast, Mike Austin and David Gluckman discuss the big debuts at the 2017 Chicago Auto Show. They also recap what they've all been driving lately, and the episode wraps up with Spend My Money buying advice to help you, our dear listeners. And there's an awful Dad Joke thrown in there for you to find. The rundown is below. Remember, if you have a car-related question you'd like us to answer or you want buying advice of your very own, send a message or a voice memo to podcast at autoblog dot com. (If you record audio of a question with your phone and get it to us, you could hear your very own voice on the podcast. Neat, right?) And if you have other questions or comments, please send those too. Autoblog Podcast #503 The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics and stories we mention Jaguar XE Volkswagen Golf R Toyota Highlander Hybrid Chicago Auto Show coverage Used cars! Rundown Intro - 00:00 What we're driving - 01:46 Chicago show preview - 22:58 Spend My Money - 35:36 Total Duration: 52:48 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show on iTunes Podcasts Chicago Auto Show Chevrolet Dodge Jaguar Toyota Volkswagen Truck Hatchback SUV Performance Sedan ford expedition jaguar xe volkswagen golf r 2017 Chicago Auto Show