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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

UK collector pays $800k for license plate '25 O'

You can't get a vanity license plate in the UK, but Brits have proven their willingness time and time again to part with huge amounts of cash in order to get a particularly desirable number to put on the front and back of their high-priced machinery. This time, a Ferrari collector paid over $800,000 for the license plate "25 O." The princely sum of GBP518,000 – equivalent to over $814k at today's rates – was paid by John Collins, owner of classic car broker Talacrest. Collins reportedly intends to put it on his Ferrari 250 GT SWB. What's more is that he had just paid another GBP130,320 ($205k) for the license plate "250 L" that he plans to put on his 1964 Ferrari 250 GT Lusso, the long-wheelbase touring version of the same vehicle. The winning bids were placed at an auction held by the UK's Driver and Vehicle Licensing Agency – the 150th such auction held by the government office, marking its 25th anniversary. The "25 O" plate broke the event's previous record of GBP357,000 ($560k), paid in March 2009 for plate number "1 D." In 2008 noted tuner Afzal Kahn bought the license plate "F1" for GBP440,000, which is less than what Collins paid for "25 O" but different exchange rates worked that out to $870k at the time. Kahn was said to have turned down a $9 million offer for that plate last year. DVLA PERSONALISED REGISTRATIONS SETS A NEW BRITISH RECORD AS 25 O SELLS FOR GBP500,000 DVLA Personalised Registrations has set a new British record for a personalised registration sold by the Agency after 25 O was bought for more than GBP500,000. Incredibly, John Collins, who, as owner of Talacrest, is regarded as one of the world's leading collectors and dealers of classic Ferraris, bought 25 O for GBP518,000 less than three hours after successfully buying 250 L for a staggering GBP130,320. Both sums include fees and take the total amount paid by the businessman to GBP648,320. Both are among the 1,600 registrations being auctioned by the Agency as part of its 25th Anniversary three-day auction – and also 150th live sale – currently being held at The Vale Resort near Cardiff. Both registrations will be placed on two of the world's most exclusive cars; 250 L will head onto a rare 1964 Ferrari Lusso, while 25 O will sit on the Ferrari 250 SWB once owned by the rock singer Eric Clapton.

Want to buy a worst-in-show-winning Faux Ferrari Fiero?

UPDATE: This heap sold for $5,001. But don't fret, there are more terrible cars out there for the taking if that's your thing. Today we bring you something truly terrible. It's not just a fake Ferrari built on the guts of an old Pontiac Fiero, it's actually the world's worst fake Ferrari built on the guts of an old Pontiac Fiero. And it's got the award from the Concours d'Lemons to prove it. It's so heinous, in fact, that it has somehow managed to become desirable, at least judging by the bidding history of this bright red affront to Maranello. Powered by a 140-horsepower 2.8-liter V6 engine (covered by an unconvincing and broken fake V12 cover) hooked to an automatic gearbox, this gloriously poor Prancing Horse won't be winning many stoplight drag races. There are bundles of stray wires hanging down from the dashboard, it has high mileage, most of its lights don't work, and it's ugly. Like, really ugly. And to top it off, this Fauxrarri can't currently be registered in its home state of California because it has failed its most recent smog test. Put simply, you're looking at a total piece of junk. But a piece of junk with internet notoriety, having been featured on an episode of Jay Leno's Garage after attending the 2019 Quail Motorsports Gathering — by mistake at first, and then earning a special place next to the porta potties — being the focus of a video series on YouTube and winning the aforementioned ribbon for Worst in Show at Lemons. Somehow, bidding has topped $4,000 at the time of this writing. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. If you want to earn the ire of your neighbors — and to be clear, we really wouldn't recommend it — click on over to Cars & Bids to view the auction. There are four days left to hit the "bid" button. Consider yourself warned. Related Video: