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Stellantis sees vehicle loan durations extended amid banking turmoil

Stellantis is seeing clients seeking longer-term financing and leasing deals for their vehicles as a consequence of higher global interest rates, the carmaker's head for the business said. Chief Affiliates Officer Philippe de Rovira said loans which normally had a three-year maturity were now increasingly moved to four years. "This allows customers to get a car for a monthly instalment that is similar to that they had before," he said. The world's third largest carmaker by sales on Tuesday announced it had completed a plan announced in late 2021 to reshuffle and simplify its leasing and financing operations in Europe. Under its terms, Stellantis created a 50-50 single long term multi-brand leasing company named Leasys with Credit Agricole Consumer Finance. It also set up local joint ventures in European countries for its new Stellantis Financial Services unit, formerly Banque PSA Finance, with BNP Paribas Personal Finance and Santander Consumer Finance. "These banks have always had better funding conditions than those we can have as an automaker," de Rovira said. Benefits of the plan included cutting the number of financing and leasing entities the group runs in each country and the number of IT systems it uses, with expected savings exceeding 30% in this particular area, he added. De Rovira said the group had a huge portfolio of orders it had not yet delivered due to supply chain shortages impacting production. "Demand is not our main issue. The issue is to deliver as fast as we can cars that are in our order portfolio, which is still at record levels," he said. The group aims to expand its corporate leased vehicle fleet to more than one million units in 2026 and to double net income from its so-called banking activities to 5.8 billion euros ($6.3 billion) by 2030. De Rovira said Stellantis was not seeing a downward trend in vehicle pricing. "Probably the significant price increases we have seen in 2021 and 2022 will not be repeated because the context is changing, but for the moment we don't see decreases, we see stabilisation". ($1 = 0.9188 euros) (Reporting by Giulio Piovaccari and Gilles Guillaume; Editing by Jan Harvey) Earnings/Financials Plants/Manufacturing Alfa Romeo Chrysler Dodge Jeep RAM

2021 Alfa Romeo Giulia Review | Still the driver's choice

Nearly every luxury sport sedan similar in size to the 2021 Alfa Romeo Giulia is a great driving car, but none can topple Alfa from its throne as the best. Its quintessential sport sedan combination of agile handling, superior driver communication and powerful engines is the best in the business. Unfortunately, the highs are high, and the lows are low when it comes to the Giulia.  The interior is better now than it was at the beginning, but it’s still less than the Germans in both luxury and technology. A frustrating and laggy touchscreen infotainment system is hardly an improvement over the non-touch interface of before. A palatial back seat has never been a sport sedan trademark, but the Giulia's competitors nevertheless out do it in that regard too (should you care). And of course, thereÂ’s the question of long-term reliability. We hope that Alfa Romeo has worked out the GiuliaÂ’s reported issues over the years, but reliability is worth considering with the carÂ’s troubled history. Many of these flaws might be worth looking past if you want the ultimate driverÂ’s sport sedan, especially if youÂ’re thinking about the dynamite Quadrifoglio and its brilliant Ferrari-derived engine. What's new for 2021? After the heavy 2020 updates, not much changed for 2021. The trim options are streamlined to just four now: Sprint (new base trim name), Ti, Ti Sport and Quadrifoglio. AlfaÂ’s dual-pane sunroof is made standard on Ti, and the limited-slip differential is now standard on Ti Sport. A number of new colors are available: Ocra GT Junior, Rosso GTA, Rosso Villa d'Este and Verde Montreal. Nothing changes for the Quadrifoglio. What's the GiuliaÂ’s interior and in-car technology like? AlfaÂ’s upgrades for 2020 focused on improving the GiuliaÂ’s cabin, and itÂ’s much better for it. Materials on the steering wheel, dash and center console are more in touch with luxury expectations, and the control interfaces are sturdy, quality parts. The overall result still doesn't match most competitors, but it's no longer objectionable, and the materials generally feel nice to the touch. The design itself is attractive and minimalist. It lacks the Swedish flair of a Volvo S60 or the drama of some of the offerings available from Lexus and Mercedes, but Alfa was sure to pack in just enough Italian flair (red leather helps) to keep things interesting.

Alfa Romeo to develop a large car in the United States

MILAN — Itay's Alfa Romeo will work on a new large car in the United States to be launched in 2027, the brand's head Jean-Philippe Imparato said on Friday, adding however the group had not yet decided where to manufacture it. Imparato said the step was key to tailoring the design for overseas markets, helping Alfa Romeo to strengthen its position as an international premium brand of carmaker Stellantis. "Our offer for a large size vehicle must fit international markets, American, Chinese, European," he said during a media call, a day after parent Stellantis released first half results. Alfa Romeo is still assessing whether the new model will be an SUV or crossover bigger though it already has Stelvio with Tonale on the way, or a sedan bigger than Giulia, but it will probably not be an SUV as large as BMW's X5 or X6, Imparato said. He told Automotive News that the vehicle could be a mix of the two vehicle types, perhaps not unlike the new Toyota Crown. "We want to find the right mix," he said. "It's a decision we will take by the end of this year." Imparato said developing the car in the U.S. did not mean it would be produced in North America. "Producing in the U.S. is not something we have decided and it is something we don't want to decide now," he added. Alfa's two production sites are in Italy.