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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.

Watch a Dodge Challenger Demon break 200 mph

We all know that the Dodge Challenger Demon is a monster in short bursts. Its 840 horsepower and drag-ready tires allow it to hit 60 mph in a claimed 2.3 seconds on the way to a sub-10-second quarter-mile time. But it turns out that the Demon doesn't run out of grunt after the quarter-mile. This was proven by a group that took one to the runway where space shuttles landed, Johnny Bohmer Proving Grounds in Florida. There they hit a top speed of 203 mph. Dodge doesn't give a top speed for the Demon, but for a bit of comparison, the 707-horsepower Hellcat Widebody has a top speed of 199 mph. Watching the video, it's interesting how calm things appear to be in the cabin. There doesn't appear to be much vibration, and the car was clearly staying steady in a straight line, since the driver hardly moved the wheel. And before you know it, the 2.3-mile run is over. The run's not official unless a record-keeping body is witnessing it, and there will surely be Demons out there trying to beat this run, but it's sure fun to watch in the meantime. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

2024 Chrysler Pacifica celebrates 40 years of the modern minivan

While its nameplate is relatively new, the Chrysler Pacifica traces its roots to the model that defined the minivan as we know it today: the Plymouth Voyager. Chrysler is celebrating 40 years of building family haulers by making a handful of small updates to the Pacifica for 2024. Don't expect to find a "40 Years Edition" trim the next time you visit a Chrysler dealer. Changes for the 2024 model year are largely limited to new paint and interior colors. Red Hot and Baltic Gray join the palette, and buyers who order the range-topping Pacifica Pinnacle model can select a new interior color called Sepia. Chrysler has also pared down the Plug-In Hybrid range to two models called Select and Pinnacle, respectively. Customers can add the optional S Appearance, Premium S Appearance, and Road Tripper packages to the base Select trim. The final update for 2024 is minor but important. The Uconnect 5 infotainment system gains an Emergency Vehicle Alert System (EVAS) that warns the driver if it detects an active fire truck, an active ambulance, or "other nearby roadway hazards," according to Chrysler. Chrysler dealers across the nation will begin receiving the 2024 Pacifica in the coming weeks. Moving your family and your stuff for 40 years Plymouth, which Chrysler closed in 2001, built the first Voyager at the Windsor plant in Canada on November 2, 1983. The van went on sale as a 1984 model and became what most historians consider the first modern minivan. The idea of designing a box on wheels tailor-made for families wasn't new: the 1930s Stout Scarab, the original Volkswagen Bus released in 1950, the Fiat 600 Multipla launched in 1956, and the Renault Espace unveiled shortly after the Voyager filled the same void, but it's the Chrysler Corporation's definition of a minivan that stuck. The original Voyager was also sold as the Dodge Caravan (1984) and the Chrysler Town & Country (1990). The three models leveraged a unique set of attributes to stand out from other vans on the market, including car-derived underpinnings (many existing models were related to bulky commercial vehicles), front-wheel-drive, and a sliding door that made the cabin easy to get in and out of. Stow 'N Go seats didn't appear until the 2004 model year, but Chrysler's early vans featured removable rear seats for weekend trips to the hardware store. SUVs and crossovers often get blamed for killing the station wagon, but the minivan arguably started the war.