1995 Ferrari 355 6 Speed Coupe on 2040-cars

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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

White Christmas: Miami Vice Ferrari Testarossa on eBay for $1.75M

Were the eighties responsible for more iconic television cars than any other decade? Without even thinking about it we can reel off B.A. Baracus' GMC van, the Knight Industries Two Thousand and General Lee, Hardcastle and McCormick's Coyote, Magnum P.I.'s Ferrari 308. That's before we dip into personal favorites like The Fall Guy's GMC and the Dodge Ram Power Wagon from Simon and Simon, or hop over to cartoons like Transformers, the GoBots and MASK. And then there was this, among the top rung of eighties memorabilia, a 1986 Ferrari Testarossa claimed to be one of two used in Miami Vice. You'll remember that the show began with James "Sonny" Crockett driving a black Daytona Coupe, but it was a replica built on C3 Corvette running gear. The story is that Ferrari sued the replica maker and made the show's producers an offer: blow up the replica on the show in return for two Testarossas to use. And that, it's said, is how Crockett's convertible got hit by a missile during an undercover assignment with an arms dealer. The original cars were Carbon Black, but the show's cameras couldn't keep up with them at night, so director Michael Mann had them painted white. For sale on eBay with a Buy It Now price of $1.75M, the seller says he has the all of the service history paperwork and documentation from Ferrari North America. According to the seller, he bought it about three years ago; before that, it was last sold in 1991 and sat in a Miami garage for years, so it has 16,000 miles on the odometer. The Hagerty Price Guide Report shows Testarossa values have nearly doubled in four years, but a pristine find should still only fetch about $93,500, just to make sure you're clear on the seller's Hollywood premium. Nostalgia awaits you in the gallery, and perhaps a new car at the link. Featured Gallery 1986 Ferrari Testarossa from Miami Vice View 12 Photos News Source: eBay via Car and Driver TV/Movies Ferrari Auctions Coupe Luxury Performance eBay ferrari testarossa

NHTSA fines Ferrari $3.5 million for missing reports

Ferrari will pay a $3.5 million penalty for family to comply with oversight requirements set forth by the National Highway Traffic Safety Administration.
The federal agency that oversees road safety in the United States announced Friday morning that Ferrari had not submitted early warning reports for the past three years. These reports help the agency identify potential or existing safety threats.
In the wake of the rolling recalls for defective General Motors ignition switches, there has been considerable scrutiny of NHTSA's handling - or mishandling - of these early warning reports. Friday's fine is an indication the agency is taking its enforcement mandates more seriously, albeit against a manufacturer that has no large-scale presence on American roads.