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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.

2018 Dodge Challenger SRT Demon Video Review | Apex predator

The first time I stepped behind the wheel of the 2018 Dodge Demon, I was pointed down a drag strip, Christmas tree just in view through my full-face helmet. My heart was racing with a mix of nervous anticipation and raw excitement. Since the teasers for this car started rolling out in January, I'd wanted to drive Dodge's monster. This 840-horsepower hunk of steel and plastic was a rolling middle finger to EVs, carbon emissions and global warming. Only in America. The sensation was wholly unique. More so than anything, I noticed the sheer force as I was pushed back into my seat. Watch the video. And here's another one. If it looks like I'm just hanging on, it's because I am. In retrospect, I should have been sitting more upright, but I was trying to watch the revs to get the perfect launch using the transbrake. Still, I managed to get a bit of air between the front tires and the drag strip, if only for a moment. Aside from the sheer force, the most memorable thing was the sound. The scream from the supercharger nearly drowns out everything else. Just beneath that you can hear the 6.2-liter Hemi V8 kicking and screaming a song that sounds like the Devil's own chorus. Still, words don't quite do it justice. Watch the video for the full review. Motorsports Dodge Coupe Performance Videos dodge demon dodge challenger srt demon

Dodge closes Caravan order books at the end of this month

After being introduced as the Dodge Caravan in 1983, after debuting a long wheelbase Grand Caravan in 1987, after entering its fifth generation in 2007 and going almost unchanged since then to become the oldest minivan in the segment, after being publicly sent to the slaughterhouse in 2011, again in 2013, and again in 2015 before being pardoned thrice by the automotive governor, this month it's over for good for the best-selling Dodge and best-selling minivan in the U.S. and Canada. At least, according to Mopar Insiders, which credits dealer sources for the news that "the end of the month" will be a car shopper's last chance to order the Dodge Grand Caravan in the states that don't adhere to California emissions. Since the Grand Caravan's 3.6-liter V6 can't clear CARB mandates, Dodge pulled the model from the 13 so-called ZEV states in March this year.  Last summer, an analyst at AutoForecast Solutions told Automotive News that Dodge would cease Grand Caravan production at the Windsor Assembly Plant in Ontario, Canada in May this year. The brief reprieve is said to be related to the coronavirus standstill, Fiat Chrysler not alone in revising its plans to make up for two months of lost production. The new 2020 Chrysler Voyager is the official replacement for the Dodge, being a de-contented Pacifica that returns an old Chrysler nameplate to circulation and is built in the same plant as the Pacifica and Grand Caravan. The Grand Caravan's numbers have come down this year, but Dodge still sold a strong 24,931 units through the first quarter of the year; the kid-hauler has sold less than 100,000 units in a year in the U.S. only twice since 1985, topping six figures for the last four years. In 35 years on sale here, the minivan has hurdled the 200,000-unit marker 19 times. With the order books open until the end of the month and Windsor plant working a single shift and still finding its feet, Grand Caravans will continue to trickle off the lines after May, but not for long.