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MILAN: Fiat Chrysler Automobiles and PSA Peugeot on Wednesday reported their last financial statements as independent companies, each contributing full-year profits of around 2 billion euros to the new company, Stellantis, formed in January.

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%.

The Italian-American carmaker and the French mass-market automotive company completed their merger on Jan 16, creating Stellantis, the world’s fourth- largest carmaker.

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. Maserati made a positive contribution for the first time in nearly three years.

“These figures demonstrate the financial soundness of Stellantis, bringing together two healthy companies,’’ Stellantis CEO Carlos Tavares said in a statement. (AP)

DETROIT:

The US government is investigating complaints of engine compartment fires in nearly 1.9 million Toyota RAV4 small SUVs.

The National Highway Traffic Safety Administration began investigating after getting 11 fire complaints involving the 2013 through 2018 model years.

The RAV4 is the top-selling vehicle in the US that isn’t a pickup truck.

In documents posted Monday, the agency says fires start on the left side of the engine compartment. A terminal on the 12-volt battery may short to the frame, causing loss of electrical power, engine stalling or a fire.

Most of the fires happened while the vehicles are being driven, but four owners complained that fire broke out with the engine off.

A Toyota spokesman would not answer questions about whether the SUVs should be parked outdoors until the matter is resolved, but said the company is cooperating in the probe. (AP)