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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

Airbag fault on 1M recalled Jeeps getting second look from NHTSA [UPDATE]

UPDATE: Here is the statement we received from Chrysler regarding NHTSA's query: "Chrysler Group LLC advised the National Highway Traffic Administration of the six reports and, in accordance with the Company's long-standing practice, is cooperating fully with the resulting investigation. Customer safety is paramount at Chrysler Group. Customers who are concerned may call 1-800-853-1403."
It appears that Jeep's repairs for nearly one million Grand Cherokees from 2002-2004 and Liberty models from 2002-2003 might not be over yet. The vehicles were first recalled in November 2012 because the front airbags could suddenly deploy without being in an accident. Now, the National Highway Traffic Safety Administration is opening a recall query into them because of reports of inadvertent activation on some already corrected vehicles.
The original problem affected over 919,000 vehicles worldwide, including 744,822 in the US, and was caused by a degrading circuit in the wires that control the airbags. In some cases the airbag warning light would come on just before the premature activation, but in other cases it would just happen. The automaker installed an "in-line jumper harness with an integrated electrical filter" meant to eliminate the power spikes believed to be the cause.

2015 Jeep Cherokee finds a bit more fuel mileage thanks to stop/start and aero tweaks

Just a year after it burst onto the scene, Jeep has already made a pretty substantial addition to its V6-powered Cherokee, which has proven to be an extremely popular seller so far for the brand, adding a new stop-start system for the midsize, off-road-ready CUV.
The addition of stop-start included a few aerodynamic tweaks to the Cherokee's polarizing body, resulting in a wallet-pleasing increase in fuel economy. According to the EPA, the front-drive, V6-powered Jeep will now return 21 miles per gallon in the city and 29 mpg on the highway, up from 19 city and 28 highway. Four-wheel-drive, V6-powered Cherokees, meanwhile, will now return 20 mpg in the city and 28 mpg on the highway, up from 19 mpg in the city and 27 mpg.
With 271 horsepower, 239 pound-feet of torque and these newly enhanced figures, it's refreshing to see a larger, naturally aspirated engine that is still able to take the fight to today's crop of small-displacement, turbocharged four-cylinders.