Latest news with #DodgeChargerDaytona
Japan Today
21-07-2025
- Automotive
- Japan Today
Stellantis warns of $2.7 billion loss for 1st half of 2025 due to tariffs and some big charges
FILE - Shoppers look over a 2025 Dodge Charger Daytona hardtop in the Stellantis display at the Colorado Auto Show, April 17, 2025, in Denver. (AP Photo/David Zalubowski, File) By MICHELLE CHAPMAN Stellantis, the maker of Jeep and Ram vehicles, says its preliminary estimates show a 2.3 billion euros ($2.68 billion) net loss in the first half of the year due to U.S. tariffs and some hefty charges. The automaker anticipates an impact of about 300 million euros for net tariffs incurred, and also expects planned production losses related to implementing its response plan. The automaker provided preliminary financial figures on Monday after suspending financial guidance in April due to Trump's tariffs. It also halted production at plants in Canada and Mexico in response to a 25% tax on imported cars, and it temporarily laid off 900 workers at plants in Michigan and Indiana. Stellantis expects approximately 3.3 billion euros ($3.84 billion) of pretax net charges mostly related to program cancellation costs and platform impairments, restructuring and the net impact of costs related to emission standards. Automakers have been penalized if the average fuel economy of their annual fleet of vehicle production exceeds a certain level. Antonio Filosa took over as CEO two months ago after Carlos Tavares resigned under pressure last year. Stellantis, which was created from the 2021 merger of France's PSA Peugeot with Italian-U.S. carmaker Fiat Chrysler Automobiles, is the world's fourth-largest car manufacturer. It is based in the Netherlands. Stellantis will release its financial results for the first half of the year on July 29. President Donald Trump signed executive orders in April to relax some of his 25% tariffs on automobiles and auto parts, a significant reversal as the import taxes threatened to hurt domestic manufacturers. Automakers and independent analyses have indicated that the tariffs could raise prices, reduce sales and make U.S. production less competitive worldwide. Trump portrayed the changes as a bridge toward automakers moving more production into the United States. The tariffs ordered by Trump are hitting the entire auto sector, which sends vehicles and parts across the northern and southern borders of the U.S. repeatedly as they are assembled. The Center for Automative Research says that a uniform 25% tariff on all trading partners would have an increased cost of $107.7 billion to all U.S. automakers and an increased cost of $41.9 billion for the Big Three automakers in Detroit, Stellantis, General Motors and Ford. In May General Motors lowered its profit expectations for the year as the carmaker braced for a potential impact from auto tariffs as high as $5 billion in 2025. The Detroit automaker said at the time that it anticipated full-year adjusted earnings before interest and taxes in a range of $10 billion to $12.5 billion. The guidance includes a current tariff exposure of $4 billion to $5 billion. That same month, Ford Motor said that it expects to take a $1.5 billion hit to its operating profit from tariffs this year and was withdrawing its full-year financial guidance due to the uncertainty created by the Trump administration's evolving trade policy. Ford and Tesla are expected to see a smaller impact from tariffs than GM and other automakers because they assemble more of their cars in the U.S. Still, what impact they do see won't be insignificant. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
CTV News
21-07-2025
- Automotive
- CTV News
Stellantis warns of US$2.7 billion loss for 1st half of 2025 due to tariffs and some big charges
Shoppers look over a 2025 Dodge Charger Daytona hardtop in the Stellantis display at the Colorado Auto Show, April 17, 2025, in Denver. (AP Photo/David Zalubowski, File) Stellantis, the maker of Jeep and Ram vehicles, says its preliminary estimates show a 2.3 billion euros (US$2.68 billion) net loss in the first half of the year due to U.S. tariffs and some hefty charges. The automaker anticipates an impact of about 300 million euros for net tariffs incurred, and also expects planned production losses related to implementing its response plan. Stellantis also expects approximately 3.3 billion euros ($3.84 billion) of pre-tax net charges mostly related to program cancellation costs and platform impairments, restructuring and the net impact of recent legislation eliminating the CAFE penalty rate. Automakers have been penalized if the average fuel economy of a their annual fleet of vehicle production exceeds a certain level. Two months ago Stellantis named Antonio Filosa as its new chief executive officer. He replaced Carlos Tavares, who resigned under pressure last year. Stellantis, which was created from the 2021 merger of France's PSA Peugeot with Italian-U.S. carmaker Fiat Chrysler Automobiles, is the world's fourth-largest car manufacturer. It is based in the Netherlands. The automaker provided preliminary financial figures on Monday in the absence of financial guidance, which it suspended in April. Michelle Chapman, The Associated Press
CTV News
04-07-2025
- Automotive
- CTV News
Increase in Windsor-built vehicle sales
Despite production pauses over the last couple of months, FCA Canada, formerly known as Fiat Chrysler Automobiles, is reporting another increase in sales for Windsor-built vehicles. The company says over 4,000 Chrysler Pacifica vans were sold between April and June - double the roughly 2,000 vehicles sold during the same period in 2024. Meanwhile, sales of the Windsor-built Chrysler Grand Caravan saw an 11 per cent dip this quarter compared to last year. The new Windsor-made Dodge Charger Daytona saw a major drop, with only two vehicles sold this quarter, compared to 48 vehicles sold last April to June. The news comes following alternating layoffs at the Windsor Assembly Plant throughout May and June.
Yahoo
27-06-2025
- Automotive
- Yahoo
The Collector Car Market Is Collapsing Rapidly
Read the full story on The Auto Wire After years of rapidly climbing values, the collector car market is collapsing rapidly as investors pull out. We see evidence all around us of this phenomenon, some shocking like NASCAR hero Don Tarr's '69 Dodge Charger Daytona failing to meet reserve at there's broad evidence values for both classic cars and modern collectables are imploding in a hurry. The Hagerty Market Rating is now in the high 50s after a brief stabilization in May. That's a big deal, because when the rating hit 60 back in April, it was the first time that happened in almost five years. Strange things happened during the era of covid policies, including collector car values in general reaching incredible heights. Many declared it was a new era for the hobby, acting as if the lofty prices we saw both in public auctions and private sales would never come back down. Now the party's over and it seems many investors are scrambling to unload their vehicle assets as quickly as they can, like a skater going across thin ice rapidly in hopes it doesn't collapse. Even Hagerty is wondering just how low its Market Rating will sink before things stabilize again. Operating on a scale of 0 to 100, it gauges how active the collector car market is. Back in June 2022 it reached a pinnacle of 78.22. But the bad thing was many enthusiasts who aren't multi-millionaires watched their dream rides become so expensive, they lamented they might never be able to own one. That was true for crowd pleasers like Porsche 911s and Dodge Vipers as well as more niche, more pedestrian rides like 60 Series Land Cruisers. Nobody seems to know exactly what's next in this strange market. After a runup in values like never before it seems like the correction will involve a trough or low point like the collector car hobby has never witnessed. If enthusiasts play their cards right, that might mean finally getting that dream ride. But with the ravages of inflation still felt on a daily basis, most of us have less money to play with. Image via Kevin Saechao/Facebook Marketplace Join our Newsletter, subscribe to our YouTube page, and follow us on Facebook.
Yahoo
20-06-2025
- Automotive
- Yahoo
Dodge's Electric Car Has Been Recalled For A Hilarious Reason
Read the full story on The Auto Wire Dodge is recalling its electric car, the Charger Daytona, for a hilarious reason involving software, not the hardware. Yes, we're talking about the vehicle like it's a computer or phone because in a way it's more akin to that then the preceding Dodge hasn't sold many of these so-called 'electric muscle cars' so it only has to recall just under 8,400 of them. Unfortunately, for reasons we don't really understand, this update can't just be done in an over-the-air download. After all, that would be the big advantage to driving a giant iPhone on wheels – a lot of things you fix either by turning off and back on or through automatic updates that start when it's plugged in overnight. The recall centers around a safety regulation the Dodge Charger Daytona violates. More specifically, the violation falls under the Federal Motor Vehicle Safety Standards (FMVSS) No. 141 'Minimum Sound Requirements for Hybrid and Electric Vehicles.' In other words, the Dodge is too quiet for pedestrians to hear. That's especially problematic for the blind, but it's still a safety risk for everyone else. The issue is the amplifier on the outside of the EV might not make any noise thanks to a software problem. We get it since in the past we've been walking through parking lots only to be startled that a Tesla suddenly backs out of a spot with no warning or is following right behind us, making no noise. If you're one of the unfortunate few who have bought or is leasing a Dodge Charger Daytona EV, your local dealership should be able to take care of this software problem. At least it should be able to, although we've heard some dealers struggle doing anything with these things. Too bad it isn't just an over-the-air update. Image via Stellantis Join our Newsletter, subscribe to our YouTube page, and follow us on Facebook.
