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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

Mopar '15 performance kit now available for Dodge Charger R/T

Dodge is releasing a new Mopar performance kit for the 2015 Charger R/T sedan, offering up just 50 examples of the dealer-installed upgrade package. Only a select few dealers will sell the kit, and they'll do so at a price of $3,550. As per usual, the Mopar kit makes both performance and aesthetic changes. For the 5.7-liter Hemi V8, upgrades include the Stage 1 Scat Pack kit, which adds a cat-back exhaust and cold-air intake, good for 18 additional horsepower and 18 more pound-feet of torque. There's also a new strut tower brace and a "premium fuel powertrain control module." Aesthetic changes are remarkably simple, with matte black body-side decals being the only notable addition to the exterior. In the cabin, there's a serialized dash plaque and new door sill plates. This is the sixth Mopar special edition since 2009. If you wish to join this fairly exclusive fraternity of Dodge owners, dealers are currently accepting orders, with deliveries slated to start later this month. Scroll down for the official press release from Dodge. PERFORMANCE IN A BOX: MOPAR '15 PERFORMANCE KIT LAUNCHES FOR 2015 DODGE CHARGER R/T Owners of 2015 Dodge Charger R/T can enhance their ride with a Mopar '15 performance kit 50 limited-edition Mopar '15 performance kits now available through authorized dealerships for an MSRP of $3,550 Mopar '15 follows the success of five special-edition vehicle packages offered by the FCA brand since 2009 Delivery of Mopar '15 performance kits to begin in early June June 8, 2015 , Auburn Hills, Mich. - Mopar enthusiasts that feel the need to enhance the look and performance of their new 2015 Dodge Charger R/T can now do exactly that with a new Mopar '15 performance kit. With just 50 units available, authorized dealerships are now accepting orders for the limited-edition Mopar '15 kits for an MSRP of $3,550 with delivery to begin in early June. "Mopar has a long history of delivering to enthusiasts performance and customization in unique and convenient packages," said Pietro Gorlier, President and CEO — Mopar Brand Service, Parts and Customer Care, FCA. "We are now shifting into another gear and offering a limited-edition kit that will allow customers to really enhance the performance and look of their Dodge Charger R/T." The Mopar '15 kit is a street-legal performance package that includes the Scat Pack Performance Stage Kit 1, as well as a front strut tower brace with caps and bright pedal kit.

Houston road rage incident devolves into all-out brawl

The video is no longer available. It appears the associated account has been terminated. Chaos erupted on a Houston freeway last weekend when an altercation spiraled out of control and ended up in a battle-royale style brawl in the middle of traffic. According to KTRK, David Dao and his daughter were traveling along FM 1960 on the morning of May 14 when they came upon a white Honda and a blue Ram truck parked in the right lane. The drivers and passengers of the vehicles were engaged in a spirited argument about something that had happened moments before Dao pulled up. Dao parked in his lane to block traffic in an attempt at making sure other drivers didn't hit the people fighting in the right lane, and instructed his daughter to start filming the incident in case they were needed as witnesses. As Dao's daughter filmed, the incident quickly escalated–harsh words were exchanged, a drink was thrown in a woman's face, and then the driver of the Ram kicked in the Honda's grille. "I couldn't believe it. As soon as he kicked the grille, I was like, 'This is going down now," said Dao. "I was thinking this is going to be bad. At that time, I knew because there was physical damage." As soon as the Ram driver kicked the Honda the entire situation went sideways and devolved into a huge brawl, with the people from both vehicles throwing wild punches and grappling with one another. A woman who was a passenger in the Ram attempted to break up the scrum but took a haymaker in the face for her troubles. Eventually, the fight broke up and the people returned to their vehicles which Dao assumed meant that the altercation was over. Apparently though, the Ram driver felt he hadn't made his point, and he reversed at high speed into the Honda, smashing the fascia and buckling the hood. The Ram then sped off westbound on U.S. 290 with the Honda on its tail. According to the Harris County Sheriff's Office, the incident was not reported and there is no word what happened to the brawlers after they left the scene. Related Video: News Source: KTRK Weird Car News Dodge Lexus RAM Driving Safety Truck Videos Sedan road rage houston fight