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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

Chrysler recalling 278,222 trucks and SUVs over bad rear axles

Chrysler has issued a recall of 278,222 light trucks and sport utility vehicles here in the United States. The reason: bad rear axles. Specifically, according to the National Highway Traffic Safety Administration, the rear axle pinion nut may lack a necessary adhesive patch, which could cause the nut to loosen. If this happens, the axle can lock up, which could cause all sorts of havoc on the road.
This is an expansion of the rear axle recall announced in October of last year, where 44,300 Ram 1500 and Dodge Dakota models were being called in. At that time, 12 accidents had been reported due to the faulty axle pinion nut.
Affected vehicles include Ram 1500 trucks from the 2009 to 2012 model years, Dodge Dakota models from the 2009 to 2011 model years, and both the Chrysler Aspen and Dodge Durango SUV twins, both from the 2009 model year only.

2015 Ram 1500 Rebel priced from $43,985

Ram has announced the prices for the two newest members of its 1500 family, with the new Rebel starting at $43,985 and the Laramie Limited kicking off at $51,870. Those prices include the $1,195 destination charge. The Rebel's starting price is only for the two-wheel-drive variant. Adding four-wheel drive elevates the price to $45,915 and includes the 3.6-liter Pentastar V6. If you fancy four-wheel drive and FCA's 5.7-liter Hemi V8, you'll need to write a check for $47,565. The luxurious Laramie Limited comes in a few more varieties, and can be had with either two- or four-wheel drive, and gas or diesel power. The base model uses the 5.7-liter Hemi V8 and rear-wheel drive, for a total price of $51,870. Plan on an extra $3,120 to replace the Hemi with the 3.0-liter EcoDiesel V6. Adding four-wheel-drive adds $3,505 regardless of engine. Scroll down for the official pricing release from Ram, and then hop over to our original coverage of the Laramie Limited and Rebel for even more details on the new trucks. Related Video: Ram Truck Announces Pricing for 2015 Ram 1500 Rebel and Ram 1500 Laramie Limited • Ram 1500 Rebel makes a statement with increased ride height, standard 33-inch tires, skid plates, tow hooks and unique interior starting at $42,790 • Chrome accents, prominent badges, Argento wood and premium leather are key ingredients of new Ram 1500 Laramie Limited with a starting price of $50,675 The Ram 1500 continues to move forward with two mid-year 2015 offerings that carry into the 2016 model year – the Ram 1500 Rebel and Ram 1500 Laramie Limited. The Ram 1500 Rebel brings a one-of-a-kind off-road design to the full-size truck segment. The Rebel drops right into a core segment of the truck market with unique design cues and mechanical innovation backed by Ram Truck engineering. Rebel features an all-new grille with a prominent billet silver "RAM" letter badge. Departing from the brand's iconic "crosshair" designs, the blacked-out Rebel grille tops a completely new black off-road front bumper design with a durable powder-coated surface. It also incorporates a powder coated, billet silver skid plate, front tow hooks, 33-inch Toyo tires and an all-new 17-inch aluminum wheel. Inside, Rebel is every bit as brawny and rugged as it is outside. The truck features industry-exclusive seating elements finished in Radar Red and black with fabric inserts embossed with the Toyo tire tread pattern, matching the Rebel's actual footprint.