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Macron and Le Pen decry 'shocking' Stellantis CEO pay

PARIS — French President Emmanuel Macron and his far-right challenger in the French presidential vote, Marine Le Pen, on Friday both decried as “shocking” the multimillion euro payout to the CEO of carmaker Stellantis. Stellantis CEO Carlos TavaresÂ’ remuneration package of 19.15 million euros just a year after the company was formed became an issue as Macron and Le Pen campaigned ahead of the April 24 runoff vote. Polls show purchasing power and inflation are a top voter concern. Stellantis was formed last year through the merger of PSA Peugeot and Fiat Chrysler Automobiles. Centrist President Emmanuel Macron, perceived by many voters as being too pro-business, called the pay package “astronomical” and pushed for a Europe-wide effort to set ceilings on “abusive” executive pay. “ItÂ’s shocking, itÂ’s excessive,” he said Friday on broadcaster France-Info. “People canÂ’t have problems with purchasing power, difficulties, the anguish theyÂ’re living with, and see these sums. Otherwise, society will explode.” Far-right leader Marine Le Pen, who enjoys support from many working-class voters, called for bringing in more workers as shareholders. “Of course itÂ’s shocking, and itÂ’s even more shocking when it is the CEOs who have pushed their society into difficulty,” she said Friday on BFM television. “One of the ways to diminish this pay, which is often out of proportion with economic life, is perhaps to allow workers in as shareholders.” Stellantis continued to back the package despite a 52.1% to 47.9% vote rejecting it at an annual shareholders' meeting chaired from the Netherlands, where the company is legally based, on Wednesday. The company, citing Dutch civil code, noted that the vote is advisory and not binding. The company later said in a statement that it took note of the vote, and will explain in an upcoming 2022 remuneration report “how this vote has been taken into account.” In the 2021 report, the company identified peer group companies that it used as a salary benchmark, including U.S. companies like Boeing, Exxon Mobile, General Electric as well as carmakers Ford and General Motors. Stellantis, whose brands include Peugeot, Fiat, Jeep, Opel and Maserati, reported net profits last year had tripled to 13.4 billion euros ($15.2 billion). The French government is the third-largest shareholder in Stellantis, with a 6.15% stake through the Bpifrance Participations S.A. French public investment bank.

Dodge pumps power to the people with $10 discount per horsepower

Dodge announced an incentive program named Power Dollars, which represents the next step in its mission to bring horsepower to the people. Starting on August 1, the automaker is luring enthusiasts into its showrooms by offering a $10 per horsepower discount on select models. The Power Dollars program applies to the 2019 Challenger (pictured), the 2019 Charger and the 2019 Durango. It's as simple as it sounds: if you buy a 500-horsepower car, you benefit from a $5,000 discount. The more horsepower you choose to put in your garage, the more money you save when you sign the dotted line. The 797-horsepower Challenger Hellcat Redeye comes with a $7,970 discount. At the other end of the spectrum, the Charger SXT powered by a 3.6-liter V6 rated at 292 horsepower is eligible for a $2,920 rebate.  The Grand Caravan has 283 horsepower, so it's not far from the Charger SXT, but it's not included in the program. The Journey with the same 3.6-liter V6 engine isn't in it, either. Dodge launched the Power Dollars program to boost sales, and likely to clear the remaining 2019 models out of its inventory before the 2020s arrive. But the company has another reason to make its muscle cars cheaper, one we don't think we've heard from an automaker yet. "Since bringing the Charger and the Challenger back to the market, Dodge has put 485 million horsepower into the hands of our loyal enthusiasts. The goal is to grow to a half-billion horsepower before the end of the year," explained Tim Kuniskis, the global head of Alfa Romeo, and FCA's head of passenger cars in North America, in a statement. It's 15 million horsepower short of the milestone. It needs to sell about 18,820 examples of the Hellcat Redeye to reach its goal, or approximately 51,370 units of the Charger SXT.   

Some dealers asking $100,000-plus for Daytona-edition Dodge Charger SRT Hellcats

If you thought the name of the 2020 Dodge Charger SRT Hellcat Widebody Daytona 50th Anniversary Edition was a lot to swallow, then you're definitely going to choke on what some dealers are asking for the privilege of owning one. The $4,495 package is commanding as much as $25,000 in "market adjustments" from stores looking to capitalize on the rarity of this extremely limited-edition model.  The folks over at Moparinsiders.com reported Friday that some dealers are asking Demon-level prices for their limited allocations of the commemorative package. Their assessment? Not worth it. We're inclined to agree.  The Daytona 50th Anniversary Edition package is, fundamentally at least, little more than a set of stickers, a dash plaque and a tiny bump in horsepower. What you really get for your money is exclusivity. Only 501 were built (to commemorate the number of production units required to homologate the original Charger Daytona for NASCAR racing); just 451 went to U.S. dealers. The other 50 were reserved for Canada.  To be fair, no variant of the 2020 Charger SRT Hellcat Widebody even approaches the definition of "inexpensive." Just to get behind the wheel of the newest edition to the Charger lineup will set you back at least $71,000. The Widebody package is more than just a set of custom fenders. The Hellcat also gets another 1.6 inches of track width and some extra rubber on the road. SRT engineers also increased the Hellcat’s front spring rate by 32% and beefed up its sway bars (from 19 mm to 21.7 mm in the front and from 32 mm to 34 mm in the rear). The adaptive suspension was firmed up a little bit across the board too for crisper response over road imperfections. Plus, you know, there's that 707-horsepower, supercharged, 6.2-liter engine. The Daytona gets an extra 10 ponies, right? Well, sort of, anyway. SRT rated its output at a slightly higher engine speed. Between us, it's the same thing.  So, there's a silver lining: You don't have to spend $100,000 for a 2020 Charger Widebody Hellcat if you don't want to, but somebody probably will.  Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.