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Stellantis earnings rise along with EV sales

AMSTERDAM — Automaker Stellantis on Wednesday reported its earnings grew in 2022 from a year earlier and said its push into electric vehicles led to a jump in sales even as it faces growing competition from an industrywide shift to more climate-friendly offerings. Stellantis, formed in 2021 from the merger of Fiat Chrysler and FranceÂ’s PSA Peugeot, said net revenue of 179.6 billion euros ($191 billion) was up 18% from 2021, citing strong pricing and its mix of vehicles. It reported net profit of 16.8 billion euros, up 26% from 2021. Stellantis plans to convert all of its European sales and half of its U.S. sales to battery-electric vehicles by 2030. It said the strategy led to a 41% increase in battery EV sales in 2022, to 288,000 vehicles, compared with the year earlier. The company has “demonstrated the effectiveness of our electrification strategy in Europe,” CEO Carlos Tavares said in a statement. “We now have the technology, the products, the raw materials and the full battery ecosystem to lead that same transformative journey in North America, starting with our first fully electric Ram vehicles from 2023 and Jeep from 2024.” The automaker is competing in an increasingly crowded field for a share of the electric vehicle market. Companies are scrambling to roll out environmentally friendly models as they look to hit goals of cutting climate-changing emissions, driven by government pressure. The transformation has gotten a boost from a U.S. law that is rolling out big subsidies for clean technology like EVs but has European governments calling out the harm that they say the funding poses to homegrown industry across the Atlantic. Stellantis' Jeep brand will start selling two fully electric SUVs in North America and another one in Europe over the next two years. It says its Ram brand will roll out an electric pickup truck this year, joining a rush of EV competitors looking to claim a piece of the full-size truck market. The company plans to bring 25 battery-electric models to the U.S. by 2030. As part of that push, it has said it would build two EV battery factories in North America. A $2.5 billion joint venture with Samsung will bring one of those facilities to Indiana, which is expected to employ up to 1,400 workers. The other factory will be in Windsor, Ontario, a collaboration with South KoreaÂ’s LG Energy Solution that aims to create about 2,500 jobs. The EV push comes amid a slowdown in U.S.

Jeep driver nearly gets washed away by fast moving river

Just because you can do something doesn't mean that you should. For example, you should never attempt to cross a fast-moving river in a bone stock Grand Cherokee no matter how shallow the river looks. Especially if you don't know what you're doing. A video posted recently to the Facebook group Jeep EXPERIENCE, shows an inexperienced jeep driver learning that lesson the hard way. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The video starts innocently enough, with a group of off-roaders watching one of their friends attempt to ford a shallow looking river. Things quickly go sideways however, when the driver of the silver Grand Cherokee just plunges right in and quickly gets in over his head. The river is moving faster than the driver thinks it is, the driver panics, makes some bad decisions, then the jeep is turned over and swept downstream. Eventually, the jeep is hauled out by a Land Rover after a long comedy of errors that involves one guy losing his trousers to the current and the Cherokee ingesting untold gallons of water. What went wrong here? Well, It's pretty obvious from the video that the Cherokee driver didn't have a clear idea of where he was going or about the condition of the riverbed. He chickened out halfway across the river, and in what appears to be a misguided attempt at turning back, he reverses, digs himself deeper in the riverbed, then turned broadside on into the current. When he changes his mind again and decides to just gun it for the opposite shore, he drives directly into a deep water hazard that would have been obvious to an experienced off-roader. At that point the jeep and the driver were doomed. Hopefully the driver learned a lesson here, and hopefully he didn't pollute that river too much with the jeep's fluids. Related Video: News Source: Jeep EXPERIENCE Weird Car News Jeep Land Rover Driving Safety SUV Off-Road Vehicles Videos river

Total auto recalls already on record pace in 2014

If you've noticed that there have been more recalls than usual this year, you may be on to something. According to a report from the National Highway Traffic Safety Administration, the US market is on pace to break a record for recalls. In 2013, 22 million cars were recalled. We're only a third of the way through 2014, though, and we've already halved that figure, with 11 million units recalled. That's wild.
Considering the past few months, it shouldn't be a surprise that General Motors is leading the charge, with six million of the 11 million units recalled coming from one of the General's four brands. Between truck recalls, CUV recalls and the ignition switch recall, 2014 hasn't been a great year for GM.
Other recall leaders include Nissan (one million Sentra and Altima sedans), Honda (900,000 Odyssey minivans), Toyota (over one million units in a few recalls), Volkswagen (150,000 Passat sedans), Chrysler (644,000 Dodge Durango and Jeep Grand Cherokee SUVs) and most recently, Ford (434,000 units, the bulk of which were early Ford Escape CUVs). So while it's been a bad year for GM so far, its competitors aren't doing too well, either.