Stellantis

Stellantis' Dundee engine plant Stellantis said it would spend $99 million across three North American plants to make a new four cylinder turbocharged engine. Investments would be made at the Dundee Engine Complex in Michigan, Kokomo Casting Plant in Indiana and the Etobicoke Casting Plant in Toronto. The new engine is a 1.6-litre, I4 turbocharged unit with direct fuel injection and flexibility for…

Following news that global automaker Stellantis would be terminating its joint venture to produce Jeeps with Guangzhou Automobile Group (GAC), the Chinese automaker has clapped back. More specifically, GAC has singled out Stellantis CEO Carlos Tavares over his recent comments about the failed joint venture, and the supposed “broken trust” between the two partners. Stellantis ($STLA) is a top-ten global automotive manufacturer and the current iteration Fiat Chrysler Automobiles (FCA), following a merger with…

Even as consumer spending cools, one place buyers continue to splurge is at the car dealership.Auto executives reporting earnings earlier this week displayed confidence that not only would demand for cars and trucks remain resilient in the second half of the year, but also an easing of supply-chain disruptions would help power profits in coming quarters. A customer-order backlog, historically low dealership stock and car shoppers paying higher prices for vehicles all have led to a string of profitable quarters for most…

Stellantis has posted strong first half financial results as supply constrained overall volume was weighted towards higher margin models. Stellantis said net revenues for the period were €88.0 billion, up 17% compared to last year, reflecting strong net pricing, favourable vehicle mix and positive currency effects. Adjusted operating income was posted at €12.4 billion, up 44% compared to H1 2021, with margin at 14.1%.…

A slow but steady improvement in the chip supply situation over the next year will eventually limit automakers' pricing power, which has been boosting earnings across the industry in recent quarters, Stellantis CEO Carlos Tavares said. In a media call presenting the automaker's results in the first half of the year, Tavares said the industry was in a "very specific sweet spot right now." "We have a significant unbalance between the offer and the demand for automobiles, which gives us a transaction price opportunity," he…

The top U.S. auto-safety regulator is opening an investigation into reported catastrophic engine failures with some Ford Bronco vehicles, yet another setback in the auto maker’s efforts to improve its quality record. The National Highway Traffic Safety Administration said in a filing made public this week that it was opening a formal investigation into a series of reports involving 2021 Ford Bronco SUVs that experienced loss of power at highway speeds. The probe covers nearly 25,500…

In this file photo taken on Jan. 19, 2021, the Stellantis sign is seen outside the Chrysler Technology Center, in Auburn Hills, Mich. U.S. safety regulators have opened three investigations into safety problems with about 1.65 million vehicles made by Stellantis, Tuesday, July 26, 2022. The largest probe covers 1.34 million Jeep Cherokee small SUVs from the 2014 through 2020 model years. Credit: AP Photo/Carlos Osorio, File…

New Delhi: Guidepoint Systems, a global provider of vehicle telematics and Software as a Service (SaaS) for automotive OEMs, vehicle dealerships, rental agencies and fleet managers, recently partnered with Free2move, the global fleet, mobility and connected data brand of Stellantis.According to the companies, the Free2move-Guidepoint Systems collaboration will enable data from properly equipped and eligible MY2018 and newer Stellantis vehicles, including Ram, Dodge, Chrysler and Jeep, to be received within Guidepoint Air…

Global automaker Stellantis is making its footprint slightly less global, following the termination of a joint venture established with GAC Group over a decade ago to build Jeeps overseas. Stellantis has cited a “lack of progress” in acquiring a majority stake in the JV, and instead will try to import its electrified Jeep offerings to China. Stellantis ($STLA) is the current iteration Fiat Chrysler Automobiles (FCA), following a merger with Peugeot S.A. that was finalized in early 2021. As a top-ten automotive…

Stellantis STLA 2.37% NV said it would end the joint venture that makes and distributes its Jeep brand in China and focus instead on selling imported Jeep vehicles in the country. The Netherlands-based car maker blamed a lack of progress in its plan to take a majority share in the joint venture with China’s Guangzhou Automobile Group Co. 2238 1.17% Ltd. “Stellantis…