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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

Best car infotainment systems: From UConnect to MBUX, these are our favorites

Declaring one infotainment system the best over any other is an inherently subjective matter. You can look at quantitative testing for things like input response time and various screen load times, but ask a room full of people that have tried all car infotainment systems what their favorite is, and you’re likely to get a lot of different responses. For the most part, the various infotainment systems available all share a similar purpose. They aim to help the driver get where they're going with navigation, play their favorite tunes via all sorts of media playback options and allow folks to stay connected with others via phone connectivity. Of course, most go way beyond the basics these days and offer features like streaming services, in-car performance data and much more. Unique features are aplenty when you start diving through menus, but how they go about their most important tasks vary widely. Some of our editors prefer systems that are exclusively touch-based and chock full of boundary-pushing features. Others may prefer a back-to-basics non-touch system that is navigable via a scroll wheel. You can compare it to the phone operating system wars. Just like some prefer Android phones over iPhones, we all have our own opinions for what makes up the best infotainment interface. All that said, our combined experience tells us that a number of infotainment systems are at least better than the rest. WeÂ’ve narrowed it down to five total systems in their own subcategories that stand out to us. Read on below to see our picks, and feel free to make your own arguments in the comments. Best infotainment overall: UConnect 5, various Stellantis products Ram 1500 Uconnect Infotainment System Review If thereÂ’s one infotainment system that all of us agree is excellent, itÂ’s UConnect. It has numerous qualities that make it great, but above all else, UConnect is simple and straightforward to use. Ease of operation is one of the most (if not the single most) vital parts of any infotainment system interface. If youÂ’re expected to be able to tap away on a touchscreen while driving and still pay attention to the road, a complex infotainment system is going to remove your attention from the number one task at hand: driving. UConnect uses a simple interface that puts all of your key functions in a clearly-represented row on the bottom of the screen. Tap any of them, and it instantly pulls up that menu.

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