Automaker warns over UK operations and calls for Brexit trade deal renegotiation
The worldโs fourth-biggest carmaker by sales has warned of a potential existential threat to large parts of the British car industry unless the government moves to alter the terms of its Brexit trade deal with the European Union.
Carmaker Stellantis reports record 1H margins, $7b profits
Automaker Stellantis says 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.
Stellantis, Foxconn team up to make cars more connected
Carmaker Stellantis and Taiwanโs Foxconn have announced plans to develop a jointly operated automotive supplier focusing on technology to make vehicles more connected, including artificial intelligence-based applications and 5-G communications.
Stellantis CEO says 4th largest carmaker to be disruptive
The Italian-American carmaker and the French mass-market automotive company completed their merger on Jan. 16, creating Stellantis, the worldโs fourth-largest carmaker, despite a pandemic year that saw profits plunge. โStellantis is not born from a crisis,โโ Tavares told a conference call after fourth-quarter earnings were released. Fiat Chrysler reported adjusted net profits in the pandemic year of 1.9 billion euros ($2.3 billion), down 57% from 2019. PSA reported earnings of 2.2 billion euros, a drop of 32%. Fiat Chrysler reported fourth-quarter adjusted earnings before interest and taxes of 2.3 billion euros, a record 2.2 billion euros of those generated in North America, where the profit margin was 11.6%.
US rejects Ford, Mazda requests to avoid Takata recalls
The U.S. government's highway safety agency has rejected a request from Ford and Mazda to avoid recalling about 3 million vehicles with potentially dangerous Takata air bag inflators. (AP Photo/Paul Sancya, file)DETROIT โ The U.S. government's highway safety agency has rejected a request from Ford and Mazda to avoid recalling about 3 million vehicles with potentially dangerous Takata air bag inflators. The problem caused the largest series of auto recalls in U.S. history, with at least 67 million inflators recalled by 19 automakers. But the safety agency disagreed and denied the automakersโ petition to avoid the recall. The Ford and Mazda inflators are the earliest generation made by Takata that used calcium sulfate as a drying agent.