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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

FCA announces the winners of its Design Sketch Battle contest

Fiat-Chrysler Automobiles (FCA) designers Ralph Gilles and Mark Trostle announced the winner of the first Design Sketch Battle on their respective Instagram accounts. The 24-hour contest invited designers and enthusiasts from all over the world to submit their "wickedest and most outrageous designs for a Ram truck." Participants flooded the company's various social media accounts with creative submissions that did not disappoint. Ralph Gilles, FCA's head of design, selected submissions sent by Paul Piliste, Rezo Lomaia, Michael Stanfel, Morten Rabiee, and Joshua Reese. The sketches he selected all put a decidedly futuristic spin on Ram's design language, and one is a tribute to the original Power Wagon introduced in 1946. They embrace the company's rugged side with oversized wheels and ground clearance measured in feet, not inches. Don't look for street-oriented, low-to-the-ground performance -— like Gilles' own Tomahawk GTR sketch from 1995 — here. We've embedded his winners below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Mark Trostle, the head of design for Ram and Mopar, published his top picks an hour after Gilles. He selected work by Bryan Johnson, Robin Mathew, Ricky Ryan Goimarac, Jon Sibal, and Sean Smith. His attention gravitated towards futuristic designs, too, but he channeled his inner hot-rodder by choosing what looks like a slammed quad-cab Ram with a front fascia and fender flares from a wide-body Challenger. His fifth pick is one we'd love to see in showrooms: it blends retro-inspired and modern styling cues in a street-oriented high-performance package. His winners are embedded below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. In the world of Lego, designers can compete for the chance to add their one-off creation to the company's catalog of current and classic cars. We don't know if FCA will give the Design Sketch Battle winners the same distinction. In the meantime, Gilles and Trostle both said they'd post more stand-out designs on Instagram over the weekend. Spoiler alert: Someone Photoshopped a Ram 1500 Rebel grille onto a Tesla Cybertruck. You've been warned. Related Video:

Ram pickups to keep it steel through 2020

One of the hottest topics in the industry these days is automakers' expanding use of aluminum, especially for vehicle bodies and platforms. While the lightweight metal has historically been the preserve of premium brands and sports cars, Ford shocked the industry when it announced that its 2015 F-150 would go aluminum-intensive for its new generation. As it turns out, the material change doesn't even mean a big jump in the prices for most of its trims. Possibly in reaction to the big change, General Motors is said to be using the lightweight metal in its next-gen trucks, too. That only leaves Ram as an open question among the domestics, and at least for now, the company is apparently in no hurry to push tin.
According to Reuters speaking with two, unnamed insiders, the Ram 1500 isn't getting an aluminum infusion until sometime after 2020. That's not to say the truck is going to be stagnant for the next half-decade or more, of course. According to Ram's five-year plan, there's a refresh for the 1500 coming in 2015 and much bigger changes on the way in 2017. Those same sources tell Reuters that further revisions aren't expected until at least 2021, which is when the aluminum could be added.
Fiat Chrysler Automobiles CEO Sergio Marchionne hasn't minced words about his thoughts on using the lightweight metal in pickups. "I have better use of aluminum in this house than a pickup truck," he said in May. Having said that, Marchionne was clear that if the material turns out to be revolutionary in the segment, the company would be willing to follow.