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Why Chrysler didn't send off 300 with Hellcat-powered model

Chrysler is sending off the 300 with a limited-edition model powered by the mighty 6.4-liter (392-cubic-inch) Hemi V8. Earlier rumors claimed that the 2023 300C could get the supercharged, 6.2-liter Hellcat V8, but a new report suggests there aren't enough engines to go around. Quoting unnamed inside sources, The Drive wrote that the available supply of Hellcat engines is already spoken for. Sister company Dodge uses the eight-cylinder in several models, including the Challenger, the Charger, and the Durango, and Ram needs it for the 1500 TRX. Enthusiasts can also buy the V8 as a crate engine. Hellcat production is coming to an end with no successor in sight so demand is high. Another issue brought up by the publication is that stuffing the Hellcat between the 300C's fenders didn't necessarily make sense from a business point of view. The big sedan shares its basic platform with the Charger, which is offered with Hellcat power, but engineers would have needed to make at least a handful of modifications to install the engine. On the other hand, Chrysler sold the 300 with the 6.4-liter Hemi V8 until the 2014 model year so the engineering work has already been completed; put simply, this is the simpler and cheaper solution. Muscle car fans hoping for a 700-plus-horsepower Chrysler sedan will need to build it themselves; like we mentioned, the Hellcat is offered as a crate engine. Buyers who score one of the 2,000 units of the 300C earmarked for our market likely won't be disappointed by its performance, however. The V8 sends 485 horsepower (up from 470 in the 300 SRT) and 470 pound-feet of torque to the rear wheels via an eight-speed automatic transmission. Chrysler quotes a 0-60-mph time of 4.3 seconds and a quarter-mile time of 12.4 seconds. Pricing for the 2023 Chrysler 300C starts at $56,595 including destination. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

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

U.S. auto sales fall in July, as Detroit dials back on inventory, rental sales

DETROIT — U.S. carmakers said on Tuesday they continued to slash low-margin sales to daily rental fleets in July as General Motors, Ford and Fiat Chrysler Automobiles struggled to curb a slide in retail sales. July is on track to be the fifth straight month in which the annual pace of car and light truck sales declined from the same month a year ago, in part because of fewer fleet sales, analysts and industry executives said. July 2016 sales hit a strong 17.9-million-vehicle pace. GM said the seasonally adjusted annual sales rate fell to an estimated 16.9 million vehicles in July. At midmorning on Tuesday, GM shares were down 3.4 percent at $34.77, Ford was down 2.8 percent at $10.91, and Fiat Chrysler shares were down 0.3 percent at $12.05 in New York. GM sales dropped 15 percent from a year ago to 226,107 vehicles, as the company cut rental fleet sales more than 80 percent. The automaker said inventories of unsold vehicles at month's end were 104 days, down from 105 days at the end of June. GM has promised investors to reduce inventories to 70 days by year-end. Ford said its July sales dipped 7.5 percent to 200,212 vehicles, as it cut fleet sales more than 26 percent. Inventories fell to 77 days from 79 the previous month. Fiat Chrysler said sales dropped 10 percent to 161,477, as it also cut back sales to daily rental fleets. Among the top Japanese companies, only Toyota reported a year-to-year gain, with sales up 4 percent to 222,057 — just 4,000 units behind GM. Honda sales were down 1 percent to 150,980 — its first-quarter sales continuing to decline in North America but seeing a big increase in China. And Nissan sales fell 3 percent to 128,295. GM, Ford and Fiat Chrysler have cautioned that second-half financial results likely will be lower than first-half results, in part reflecting production cuts in North America and pricing pressures. The automakers this year have been deliberately dialing back sales to rental-car companies, which often generate little to no profit, while struggling to keep retail sales from sagging further, according to industry analysts. Industry consultant LMC cut its full-year forecast for new vehicle sales to 17 million vehicles. Automakers sold a record 17.55 million vehicles in the United States in 2016.