2010 Dodge Handicap Wheelchair Van Braun Entervan All Power Door Ramp Kneel on 2040-cars

Auto blog

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.

Ford, Stellantis workers join those at GM in ratifying contract that ended UAW strikes

DETROIT — The United Auto Workers union overwhelmingly ratified new contracts with Ford and Stellantis, that along with a similar deal with General Motors will raise pay across the industry, force automakers to absorb higher costs and help reshape the auto business as it shifts away from gasoline-fueled vehicles. Workers at Stellantis, the maker of Jeep, Dodge and Ram vehicles, voted 68.8% in favor of the deal. Their approval brought to a close a contentious labor dispute that included name-calling and a series of punishing strikes that imposed high costs on the companies and led to significant gains in pay and benefits for UAW workers. The deal at Stellantis passed by a roughly 10,000 vote margin, with ballot counts ending Saturday afternoon. Workers at Ford voted 69.3% in favor of the pact, which passed with nearly a 15,000-vote margin in balloting that ended early Saturday. Earlier this week, GM workers narrowly approved a similar contract. The agreements, which run through April 2028, will end contentious talks that began last summer and led to six-week-long strikes at all three automakers. Shawn Fain, the pugnacious new UAW leader, had branded the companies enemies of the UAW who were led by overpaid CEOs, declaring the days of union cooperation with the automakers were over. After summerlong negotiations failed to produce a deal, Fain kicked off strikes on Sept. 15 at one assembly plant at each company. The union later extended the strike to parts warehouses and other factories to try to intensify pressure on the automakers until tentative agreements were reached late in October. The new contract agreements were widely seen as a victory for the UAW. The companies agreed to dramatically raise pay for top-scale assembly plant workers, with increases and cost-of-living adjustments that would translate into 33% wage gains. Top assembly plant workers are to receive immediate 11% raises and will earn roughly $42 an hour when the contracts expire in April of 2028. Under the agreements, the automakers also ended many of the multiple tiers of wages they had used to pay different workers. They also agreed in principle to bring new electric-vehicle battery plants into the national union contract. This provision will give the UAW an opportunity to unionize the EV battery plants plants, which will represent a rising share of industry jobs in the years ahead.

Thieves stealing Dodge and Ram vehicles right off factory lots

Stellantis-operated storage lots in and around Detroit have been hit by a wave of thefts in recent weeks. Thieves are getting their hands on new, high-end models such as the Dodge Challenger Hellcat by going straight to the source, helping themselves, and driving off. Detroit news channel WDIV Local 4 reported that over half a dozen new cars and trucks have been stolen from various storage lots since the beginning of 2022. On March 10, five Ram trucks were taken from a secured facility in Shelby Township. Several more Ram trucks were stolen on March 8, and one smashed into a semi truck's trailer as it attempted to get away. On March 3, thieves took three Dodge Challenger Hellcat models from a lot in Auburn Hills. And, on February 28, a Jeep Grand Cherokee Trackhawk and a Dodge Challenger Hellcat were stolen from a lot near the Jefferson North assembly plant. Many of the vehicles that thieves are targeting cost nearly $100,000. Stealing a new car from a storage lot is reportedly easier than it might sound. Citing anonymous sources, WDIV explained that the keys are normally left inside of the vehicles while they're parked on the storage lot, waiting to be dispatched to dealers. Security guards patrol the property, yet the thieves are finding ways to sneak into the lot, hop in a car, and drive off by ramming through the gates. Stellantis told the news channel that the Sterling Heights Police Department is investigating the thefts, and that at least one of the lots is managed by a third-party company. It declined to comment on the number of vehicles stolen or the methods used because the investigation is ongoing. In the meantime, the Sterling Heights Police Department plans to send extra patrol cars to the areas around the storage lots. There's no word on whether the missing cars have been found. And, this isn't the first time that thieves have stolen new V8-powered Dodge and Ram vehicles in the Detroit area. In October 2021, thieves stole four cars from a Dodge and Ram dealership about an hour away from Detroit; one was a rare 2021 Durango SRT Hellcat. All four cars were recovered, though the Durango was stuffed into a wall. And, in May 2018, eight Ram trucks were stolen from a factory in Warren, Michigan, by thieves who got away by driving through the main gates.