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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 Dart getting hatchback variant... sort of

In other parts of the world, Fiat builds and sells a version of the Dodge Dart called the Viaggio, and it appears that in addition to the current sedan bodystyle, a new hatchback version of the car is also in the works. Autocar says that the general manager for China's Guangzhou-Fiat joint venture, John Burton, has confirmed that a new Viaggio hatchback will be revealed by the end of this year before it goes on sale in early 2014.
The Viaggio will soon be joined by the 2014 Jeep Cherokee, which in China will be called the Liberty Light, at the Guangzhou-Fiat plant. While the idea of a Dodge Dart hatchback might be enough to enable most of us to forget about the Dodge Caliber, a North American variant doesn't appear to be in the cards. We reached out to Chrysler PR boss Rick Deneau, and he offered a succinct: "No plans at this time."

1979 Dodge Li'l Red Express in Generation Gap showdown with 1933 Ford Pickup

Auto enthusiasts love a good debate, whether it's Mustang versus Camaro or Ferrari against Lamborghini. But how about a battle between two very different vintages of classic pickup trucks? In this case, the fight is between a 1979 Dodge Li'l Red Express and a 1933 Ford Model 46 truck with a flathead V8.
The shootout comes courtesy of the internet series Generation Gap, and its concept is super-simple. One guy prefers classics, and the other likes newer rides. They choose a category, pick two vehicles and put them head to head. In this case, neither is exactly modern, though. The Ford is more than old enough to receive Social Security checks, and the Dodge is hardly a young whippersnapper.
Other than both being pickups, these two models were made to serve very different functions. The Li'l Red Express was basically the progenitor of today's muscle trucks, with a big V8 that made it one of the quickest new models in its day (admittedly, 1979 was a rough time for automotive performance). On the other hand, the '33 Ford was just meant to work, with little pretense for anything else. One of the hosts describes it as "the simplest, most difficult" vehicle he's driven because of the tricky double clutchwork necessary to shift gears. Scroll down to watch the video and try to decide which of these two American classics you would rather have in your garage.