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EV cost burden pushing automakers to their limits, says Stellantis' CEO Tavares

DETROIT — Stellantis CEO Carlos Tavares said external pressure on automakers to quickly shift to electric vehicles potentially threatens jobs and vehicle quality as producers struggle with EVs' higher costs. Governments and investors want car manufacturers to speed up the transition to electric vehicles, but the costs are "beyond the limits" of what the auto industry can sustain, Tavares said in an interview at the Reuters Next conference released Wednesday. "What has been decided is to impose on the automotive industry electrification that brings 50% additional costs against a conventional vehicle," he said. "There is no way we can transfer 50% of additional costs to the final consumer because most parts of the middle class will not be able to pay." Automakers could charge higher prices and sell fewer cars, or accept lower profit margins, Tavares said. Those paths both lead to cutbacks. Union leaders in Europe and North America have warned tens of thousands of jobs could be lost. Automakers need time for testing and ensuring that new technology will work, Tavares said. Pushing to speed that process up "is just going to be counter productive. It will lead to quality problems. It will lead to all sorts of problems," he said. Tavares said Stellantis is aiming to avoid cuts by boosting productivity at a pace far faster than industry norm. "Over the next five years we have to digest 10% productivity a year ... in an industry which is used to delivering 2 to 3% productivity" improvement, he said. "The future will tell us who is going to be able to digest this, and who will fail," Tavares said. "We are putting the industry on the limits." Electric vehicle costs are expected to fall, and analysts project that battery electric vehicles and combustion vehicles could reach cost parity during the second half of this decade. Like other automakers that earn profits from combustion vehicles, Stellantis is under pressure from both establishment automakers such as GM, Ford, VW and Hyundai, as well as start-ups such as Tesla and Rivian. The latter electric vehicle companies are far smaller in terms of vehicle sales and employment. But investors have given Tesla and Rivian higher market valuations than the owner of the highly profitable Jeep and Ram brands. That investor pressure is compounded by government policies aimed at cutting greenhouse gas emissions. The European Union, California and other jurisdictions have set goals to end sales of combustion vehicles by 2035.

2018 Dodge Challenger Demon, 1970 Charger become Lego cars

As much as we all would have loved to buy one, Dodge made sure that it wouldn't be easy for everyone to own a 2018 Dodge Challenger SRT Demon. It was only built for one model year, with a total of 3,000 units, and the last one was built last summer. And even if they were still available, each one started at just under $85,000, a substantial chunk of change. But thanks to Lego, there's a comparatively cheap way to get a new Demon: in tiny brick form. The toy company has added another kit to its Speed Champions line featuring a yellow Challenger Demon. Since the Speed Champions cars are quite small, it's a somewhat rough facsimile of the car, but it's still instantly recognizable. It's blocky, it has a big hood scoop and fat fender flares. It also has two sets of wheel covers to customize it. This kit has an advantage over a real Demon, too: it comes with a second car. The other one is a 1970 Dodge Charger in black. This is an even more faithful rendition, thanks in part to the real car's ruler-straight lines. It doesn't have customizable wheels, but you can choose whether to leave it stock, or stick on a little replica of a supercharger and hood scoop that poke through the hood. It ends up looking like Dominic Toretto's Charger from The Fast and the Furious. Besides the second car, the kit features a drag strip starting tree. It doesn't light up, but it does have a slider on the back that lifts up each set of colored bricks as it's pressed down. So you can have little drag races with the two cars. In total, everything is built with 478 pieces, and it will cost you $29.99. The kit is available now wherever Lego kits are sold, and even at the Dodge merchandise website. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Canada offloading hundreds of nearly new cars it bought for G7 Summit

Are you looking for a deal on a lightly used 2018 Chrysler 300C? Do you feel like purchasing several at a time? Do you feel like visiting Canada? If all of these apply, you might be able to catch a pretty decent bargain. The Canadian government is offloading Chryslers and hundreds of other cars it bought for the G7 Summit held in Quebec in the summer, and the cars can be had quite cheaply. Originally, over 600 brand new cars were bought to ferry summit guests around Quebec, some of them in motorcades, necessitating the choice of very official-looking black on black 300C models with tinted windows. The RCMP said it turned out to be more affordable to buy the vehicles than to rent or lease them, but it still didn't come cheap for Canada. The bulk purchase price of all the cars exceeded $23 million CAD, and just $6.3 million has been recouped so far through selling 167 vehicles, as narcity.com reports. And there are still a bunch of cars for sale, posted on the GCSurplus.ca website. Take a look at the aforementioned Chryslers that were put up for auction yesterday: There are multiple 300Cs on offer with the starting bid of $25,343 Canadian and barely over 1,000 miles on the clock; the purchase price of a new, Canadian-spec 300C without motorcade modifications is over $42,000. Chevrolet Suburbans are less cheap, as the minimum bid on them is $53,428, but they appear nicely loaded with similarly low mileage and 4WD. There are also bulk deals, like a five-car pack of police-specification Dodge Chargers for a combined $133,000 if you can get them for the minimum bid. Other, less interesting but unquestionably fully serviceable vehicles include Toyota Siennas (109 were originally bought), Ford Escapes, Mitsubishi Outlanders and Dodge Journeys. You can browse the cars here. Related Video: News Source: Narcity.comImage Credit: GCsurplus.ca Weird Car News Chrysler Dodge Car Buying SUV Sedan