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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

2015 Dodge Viper GTC available in 25 million no-cost combos with 1 Of 1 bespoke program

What's the one thing no car can have too much of? Here's a hint – it's not power. It's not efficiency, either, or technology, or even safety. It's exclusivity. It's one reason Rolls-Royce has become a legend building absolutely bespoke motor vehicles, and it's the reason Dodge, of all companies, is offering a new GTC trim level for its Viper supercar. Now, you might be asking what's so special and exclusive about a trim level? Well, in the Viper GTC's case, it gives owners access to a catalog of 8,000 shades of paint for the exterior, 24,000 "hand-painted" custom stripe patterns, 10 different wheel options, 16 interior trims and no fewer than six aerodynamic packages. That results in 25 million different configurations for the 645-horsepower snake. Most shockingly, the customization choices come at no additional cost on the GTC model. And it's only the start. Ordering a GTC will enroll customers in a unique VIP program called Viper Concierge, which according to Dodge, "offers an exclusive point of contact throughout the custom Viper build process." In other words, buyers will be given the means to stay right on top of their car's production, through the 140-to-160-hour painting process, which itself will be fully documented with pictures and through a mobile-friendly website, to the actual construction of their GTC. The Concierge process will start with the ordering stage, which will include Dodge sending customers a paint chip showing the owner's custom choosing, which they can confirm or refuse. Shortly thereafter, Dodge will send buyers a 1:18-scale "speed-form" replica in their chosen custom colors, once again to confirm or deny the build. Once the buyer's color and option selection is locked-in, that car becomes a one-of-one Viper for that year – no other buyer will be permitted to build a Viper to the same specifications. The concierge service also grants access to the Viper Ambassador Owner's Portal, where orderers can track their car's build process, receive weekly updates and share their excitement with (jealous) friends and family. And once the car is complete, it will be fitted with a custom dash plaque identifying its bespoke provenance – the owner can choose to have their name put on the badge, the car's nickname, or whatever they wish (Dodge will also ship each Viper with a second blank plate to include if the original owner sells the car).

Chrysler recalls 1.2 million Ram pickup trucks

Chrysler has announced that it will issue three separate recalls that will cover as many as 1.2 million Ram pickup trucks for "steering-system tie rods that may have been misaligned during assembly or steering-system service." The vast majority of these trucks were sold in the United States, though some trucks in Mexico, Canada or overseas will be called in, as well.
The largest of the three recalls covers an estimated 842,400 model-year 2003-2008 Ram 2500 and 3500 trucks. Two smaller campaigns will bring 294,000 model-year 2008-2012 Ram 2500 and 3500 pickups, chassis cabs and 2008 Ram 1500 4x4 Mega Cabs; plus 43,500 model-year 2008-2012 Ram 4500 and 5500 4x4 chassis cabs into the dealer to be checked and repaired if necessary.
This is a very large recall, and Chrysler says it is "casting the net wider than necessary to identify those vehicles that require repair." The automaker estimates that "as many as 726,000 may not need repair."