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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

2019 Ram 1500 Laramie Drivers' Notes Review | King of the hill

The 2019 Ram 1500 is the newest full-size truck to the market, though the upcoming 2019 Chevy Silverado isn't too far off. We've driven a few models so far, from the base-spec Tradesman up to the kitted-out Limited variant. Modern trucks are expected to do everything from towing a boat, hauling mulch or carrying a family of five on an extended road trip. The days of simple, single-minded trucks have long since passed. Our tester this week is a mid-grade Laramie model. It has quite a few creature comforts — heated and ventilated leather seats, front buckets, a larger Uconnect infotainment screen — along with features like blind-spot monitoring, parking sensors, automatic high beams and a bedliner. There's no moonroof, wireless charging or heated second row seats, but it's still extremely well appointed, especially compared to its forebears. That said, it doesn't come cheap. All in, this truck costs just under $55k. Editor-in-Chief Greg Migliore: The 2019 Ram 1500 is simply the best truck in the market. It's powerful, comfortable, brash and the embodiment of what a full-size pickup should be. The Hemi V8 is always the first thing I notice when I test one, and it's smooth and potent in this 4X4 Laramie. Ram has wisely expanded its engine selections in recent years, though the V8 remains my favorite. The Ram's design always grabs me. It's generally the buffest looking truck in the segment, though at times in the last decade or so it has veered into cartoonish proportions. For 2019, it's a clean look with smooth lines and curves that convey a sense of power. I Love the new grille, and Rams always have a good deal of chrome — that's cool with me. Inside, this model was surprising quiet, underscoring the premium vibes. The latest version of Uconnect works well and is intuitive. Plus, there's a nice balance of knobs, buttons and dials. Everything is easy to use and understand. The leather looks and feels upscale, the seats are comfy yet supportive, and the configurable center console is a clever feature. This Ram is fairly loaded up, but even when we tested a more basic Tradesman a few weeks ago, I had similarly favorable impressions. It's an all-star truck. Associate Editor Reese Counts: I really hate to simply parrot what Greg said, but I'm quite enamored with the Ram. It really is the best of the bunch.

Fiat Chrysler and Peugeot boards meet to finalize merger

MILAN/PARIS — The boards of Fiat Chrysler Automobiles and Peugeot will meet separately on Tuesday to discuss finalizing an initial agreement for a $50 billion merger to create the world's number four carmaker, sources said. A source close to FCA said the two companies could announce the signing of a binding memorandum early on Wednesday, followed by a conference call to explain further details later in the day. The two mid-sized carmakers announced plans six weeks ago for a tie-up to help them deal with big challenges in the industry, including a global demand downturn and the need to develop costly cleaner cars to meet looming anti-pollution rules. Ahead of the meetings, entities representing the Peugeot family, Etablissements Peugeot Freres (EPF) and FFP, unanimously approved a proposed memorandum of understanding for the planned merger, a source familiar with the situation said. FCA and PSA have said they would seek to finalize a deal by year-end to create a group with 8.7 million in annual vehicle sales. That would put it fourth globally behind Volkswagen, Toyota and the Renault-Nissan alliance. PSA's Carlos Tavares will be chief executive and FCA's John Elkann — the scion of Italy's Agnelli family, which controls FCA through their holding company Exor — chairman of the combined company. The group will include the Fiat, Jeep, Dodge, Ram, Chrysler, Alfa Romeo, Maserati, Peugeot, DS, Opel and Vauxhall brands, allowing it to serve mass and premium passenger car markets as well as those for trucks and light commercial vehicles. Related Video:       Chrysler Dodge Fiat Jeep RAM Citroen Peugeot