2009 Jeep Wrangler Unlimited Sahara Sport Utility 4-door 3.8l on 2040-cars

Auto blog

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

Chrysler recalling hundreds of thousands of Jeep Grand Cherokee and Commander SUVs

The public might associated ignition switch recalls with General Motors - and with good cause - but that's not the only automaker calling its vehicles back in to fix that sort of issue.
Last month we reported that the National Highway Traffic Safety Administration was investigating an array of Chrysler Group vehicles for electrical-related safety issues. The administration and Chrysler subsequently issued a recall for 700,000 Dodge Journey crossovers, Dodge Grand Caravan minivans and Chrysler Town & Country minivans. But while the Jeeps that were also under investigation were not covered in that recall, they are being addressed in a separate one now.
Although Chrysler reports that it is only aware of a single accident stemming from this issue, it is "committing now to conduct a recall out of an abundance of caution." The recall affects the 2006-2007 Jeep Commander and 2005-2007 Jeep Grand Cherokee, of which it reports there are 792,300 on the road: 649,900 in the United States, 28,800 in Canada, 12,800 in Mexico and a further 100,800 outside of North America.

Watch a Cayenne Turbo S, Range Rover SVR, and Cherokee SRT drag race

We live in a weird world where high-performance SUVs could win a 60-mile-per-hour sprint against sports cars from just a few years ago. Here, Top Gear sets up a three-way drag race against the Porsche Cayenne Turbo S, Land Rover Range Rover Sport SVR, and Jeep Grand Cherokee SRT, and the results show just how quickly these high-riding models can cross the quarter mile. The Cherokee SRT is the patriotic choice among the three, but it's down on power in this fight. Meanwhile, the Range Rover's menacing growl sounds the best, and the Cayenne Turbo S has the most horsepower. You'll have to watch the video to see which SUV will win this battle. Related Video: