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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

These three automotive Lego kits deserve your suppoort

Lego has been quite good to car enthusiasts over the past few years. We've seen traditional kits for the classic VW Microbus, Mini Cooper, and the Caterham 620R, as well as an elaborate Technic kit for the 911 GT3 RS. But why stop there? The Lego Ideas page, which allows users to submit ideas with the chance to see their kits reach production, has many more cool car kits we'd love to see. Check them out below, and be sure to log on to vote for them. If a submission hits 10,000 votes, it is considered for production. That's how we got that Caterham kit, so it's worth your time to show your support. Peugeot 205 Turbo 16 This is a submission aimed at becoming one of Lego's Speed Champions kits. These are very small mini-figure scale car models, and the series has included the Ford GT, Audi R18 Le Mans racer, and more. This kit features a tiny version of the Peugeot 205 Turbo 16, a Group B rally racer that gave Peugeot World Rally Championship titles two years in a row. The kit has a well-executed version of the car and its massive rear spoiler on the hatch. It also comes with a big dirt crest for it to fly over, along with amazed spectators on the sidelines. Porsche 911 Turbo 930 We love the GT3 RS Lego kit, but we think it's a little lonely as the only Porsche kit available. Such an impressive Porsche deserves an impressive companion, like this 911 Turbo. It's the 930 version, which is arguably the most famous classic 911 with its turbocharged power, whale-tail wing, and scary driving dynamics thanks to considerable turbo lag and rear-engine handling characteristics. This model is quite large at 1:10 scale, and comes with a detailed interior and exterior. The best part is the remote-control components underneath that allow the car to be driven. Jeep Wrangler JK Moving off the beaten path again, we have this highly detailed Wrangler kit. Actually, we have two kits, as the creator designed both two-door and four-door versions. They both feature removable hard tops, detailed interiors, and big tires. They also come with an assortment of off-road accessories such as auxiliary lights, an off-road jack, winch, gas can, roof rack, and off-road bumper. You can also find various fluid reservoirs and engine details under the opening hood. Related Video: Image Credit: AbFab1974 / Lego Ideas, brickmasterno1 / Lego Ideas, RREYES77 / Lego Ideas Auto News Toys/Games Jeep Porsche Peugeot Lego

Chrysler Recalling Nearly 907,000 Cars, SUVs

Nearly 907,000 Chrysler, Dodge and Jeep SUVs and cars are being recalled for alternators that can fail and heated power mirror wiring that can short and cause minor fires. The recalls, posted Thursday by U.S. safety regulators, push the total number of recalls so far this year 544, totaling a record of more than 52 million vehicles. The largest of Thursday's recalls covers nearly 470,000 Jeep Grand Cherokees, Chrysler 300s, and Dodge Chargers, Challengers and Durangos from the 2011 through 2014 model years. The alternators can fail, causing the 3.6-liter V6 engines to stall unexpectedly. The problem also can cause the electrical system to fail, as well as knock out power-assisted steering, antilock brakes and electronic stability control. It can even cause fire or smoke, according to documents Chrysler filed with the U.S. National Highway Traffic Safety Administration. NHTSA opened an investigation into the problem in July, and Chrysler began its own probe in August. The company analyzed warranty complaints and alternators that had failed. The alternator generates electricity to recharge the battery and run other devices. Chrysler investigators traced the problem to heat fatigue in an alternator diode. Chrysler said it received 322 complaints about the problem, while 55 people complained to NHTSA. The company said it knows of one crash related to the problem, but no injuries or fires. The company will replace the alternators with upgraded versions for free. Owners will be notified in November. The company says customers who see warning lights or suspect a problem should contact their dealers. The recall affects cars and SUVs sold mainly in the U.S. and Canada, but some were sold in Mexico and overseas markets. The second recall covers almost 437,000 Jeep Wranglers from 2011 through 2013. Water can find its way into the heated power mirror wiring harness and cause corrosion. That can cause a short and could cause a minor fire and smoke, as well as cause loss of function of the mirror. The problem was discovered in February after three Wranglers in Canada were damaged. Chrysler says it has 26 complaints about the problem, but it knows of no fires, crashes or injuries. Dealers will move the wiring and install a protective shield to keep water out at no cost to owners, starting in December. Most of the Wranglers are in the U.S., Canada and Mexico, but more than 78,000 were sold overseas.