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Stellantis won't race to split electric vehicles from fossil fuel cars

MILAN - Stellantis is not considering splitting its electric vehicle (EV) business from its legacy combustion engine operation, its finance chief said on Thursday, as the carmaker presented above-expectation revenue data for the first quarter. Chief Financial Officer Richard Palmer told analysts he did not see huge benefits in the kind of separations pursued by rivals such as France's Renault and U.S. Ford. "We need to manage the company and the assets we have through this transition," he said. "There are benefits to having the cash flow being generated by the internal combustion business for the investments we need to make." Palmer said the group, formed by a merger last year of Fiat Chrysler and Peugeot maker PSA, was not averse to considering adjusting its structure "but we aren't anticipating any big changes." Palmer's comments came after the world's fourth largest carmaker said its net revenue rose 12% to 41.5 billion euros ($44.1 billion) in the January-March period, as strong pricing and the type of vehicles sold helped offset the impact of the semiconductor shortage on volumes. That topped analyst expectations of 36.9 billion euros, according to a Reuters poll. Milan-listed shares were up 0.5% by 1415 GMT, in line with Italy's blue-chip index. The impact of the chip crunch was evident in the decline in shipment figures which fell 12% in the quarter to 1.374 million vehicles. It was a similar story for Germany's BMW which posted higher revenues on Thursday and a decline in car sales. Riding the Recovery Stellantis, whose brands also include Citroen, Jeep and Maserati, confirmed its 2022 forecasts for a double-digit adjusted operating income margin, after 11.8% last year, and a positive cash-flow despite supply and inflationary headwinds. Morgan Stanley analysts said after the results that Stellantis had better management than many peers and benefited from its significant exposure to a stronger U.S. economy and a European recovery from the COVID-19 pandemic. They also said it was less affected by a slowing Chinese economy. Palmer said it was important for the group to maintain double-digit margins and keep delivering positive cash flows. "A 12% increase in revenue with a 12% decrease in volumes indicates a very strong performance on price and mix, which augurs well for our margin performance," he said. He said semiconductor supply problems were expected to ease this year with continued improvements in 2023.

Awesomely '80s time-capsule Dodge Daytona Turbo on Bring a Trailer

From the humble K-car, Chrysler in the 1980s was able to spin out all manner of variants, including some fairly credible (for the time) performance machines. One of the most ambitious was the Dodge Daytona Turbo, and a rarely seen example in near-new condition is selling today on Bring a Trailer. [UPDATE: The car was bid to $9,300 but failed to meet reserve. It is now for sale on the dealer's website with an asking price of $19,900.] The Daytona Turbo featured a 2.2-liter four to which was bolted a Garrett To3 turbocharger, bringing output to 143 horses and 160 pound-feet. Naturally, it's paired with a five-speed stick. And dig that black-and-white checkerboard cloth interior, with four bucket seats. The story is that the car was purchased new in Kansas, and that after driving it for two years, the original owner put his prized Daytona up on jack stands and stored it in a climate-controlled garage. This Dodge now has just over 5,000 miles on the clock. If all of the above sounds enticing, you'll be powerless to resist after watching the launch commercial for the Daytona. BaT commenter "Himselvis" posted a link to the 2-minute cinematic masterpiece, which is equal parts "Blade Runner" and Michael Jackson's "Thriller." Some heavy-duty talent was brought to bear on the project, as he recounts: "The director, Bill Butler, was the cinematographer on 'Jaws,' 'Deliverance,' 'Grease,' and 'One Flew Over the Cuckoo’s Nest.' Production designer Jim Spencer had worked on 'Gremlins,' 'Poltergeist,' and 'Stripes.' Director of photography David Watkin shot 'Out of Africa,' the BeatlesÂ’ 'HELP!' and 'Chariots of Fire.' The voiceover was provided by Billy Dee Williams." And the actor was from "Hot Dog the Movie." But the real star is the car, of course. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

2015 Dodge Challenger SRT Hellcat en route to dealers

Get ready, world: The 707-horsepower Dodge Challenger SRT Hellcat has officially been unleashed. But rather than just have the big coupes quietly arrive at dealers, Dodge has released this video, showing Hellcats loading up onto car carriers at Fiat-Chrysler's Brampton, Ontario plant. And yes, that is Mötley Crüe's "Kickstart My Heart" playing in the background. Of course.
This really is worth all the fanfare, though, considering Dodge will sell its ridiculously powerful, supercharged machine for just $59,995. And if the Challenger isn't quite up your alley, just remember, there's an equally powerful, 204-mph, four-door Charger Hellcat on the way...