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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

Pontiac Aztek enjoys rebirth thanks to Millennials

Apparently, Millennials – those between 18 and 34 – aren't afraid to look different on the road, and they like performance, too. A new study by Edmunds is discovering some surprising vehicle choices by this group. Among them, the long-derided Pontiac Aztek is getting a new day in the sun with 25.5 percent its buyers coming from this generation in the first half of 2015. For comparison, Millennials represent an average of 16.8 percent of used car purchases. The Aztek is slowly shaking its reputation as a styling abomination, which seems tied to its appearance on Breaking Bad. The show premiered in 2008, and the Pontiac has been on this list for four of the past five years, according to Edmunds. It even led the pack in 2010. A recent Retro Review from MotorWeek also showed that the crossover wasn't always so hated. While it's still a shock to see the Aztek on any popularity list, the awkward-looking crossover only ranks sixth among Millennials. The vehicle with the biggest portion of buyers from the generation is the Dodge Magnum with 27.6 percent. According to Edmunds, the bluntly styled wagon is especially popular in Detroit and Chicago. The Chrysler Pacifica comes in a close second at 27.3 percent. When it comes to used cars, value and utility appear to trump just about anything else for many Millennial buyers," Edmunds analyst Jeremy Acevedo said in the report. Young buyers aren't afraid of sporty rides, either. The Subaru WRX has 26.4 percent Millennial buyers to rank third place on the list, and the Volkswagen R32 takes fifth at 25.7 percent. Just a few points lower in seventh place is the Nissan GT-R at 25.4 percent, and the final performance machine in 10th place is the Lexus IS-F with 24.7 percent. Related Video:

Performance doesn't matter anymore, it's all about the feel

We've just had a week of supercars and high-end EVs revealed. Many of them boast outrageous performance specs. There were multiple vehicles with horsepower in the four-figure range, and not just sports cars, but SUVs with 0-60 mph times under 3.5 seconds. And it's not just a rarified set of supercar builders, comparatively small tuners are also building this stuff. Going fast is easy nowadays and getting easier. So what will distinguish the greats from the wannabes? It's all about how a car feels. This may seem obvious. "Of course it matters that a car should have good steering feel and a playful chassis!" you say. "Why are you being paid for this stuff?" But a lot of automakers have missed the memo. This past week I spent some time in a BMW M4 Competition convertible, and it's a perfect example of prioritizing performance over experience. It boggles my mind how a company can create such dead and disconnected steering; the weight never changes, there's no feel whatsoever. The chassis is inflappable, but to a fault, because it doesn't feel like anything you're doing is difficult or exciting. The car is astoundingly fast and capable, but it feels less like driving a car and more like tapping in a heading on the Enterprise-D. I also happened to drive something of comparable performance that was much more enjoyable: a Mercedes-AMG GT. It was a basic model with the Stealth Edition blackout package, and even though it had a twin-turbo V8 instead of a six-cylinder, it only made 20 more horsepower. The power wasn't the big differentiator, it was (say it with me) the feel. While not the best example, the steering builds resistance as you dial in lock, giving you a better idea of what's happening up front. Pulses and vibrations come back to you as you move over bumpy pavement in corners. The chassis isn't quite as buttoned down, either, providing a little bit of body roll that tells you you're pushing it. It's also easier to feel when the car is wanting to understeer or oversteer, and how your throttle and steering inputs are affecting it. The whole thing is much more involving, exciting and fun. 2021 Mercedes-AMG GT Stealth Edition View 8 Photos That's also to say nothing of the Merc's sounds. That V8 is maybe not the best sounding engine, but its urgent churn through the opened-up exhaust gets your heart racing. It also seems like it's vibrating the whole cabin, so you feel it as much as you hear it.