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Stellantis sees vehicle loan durations extended amid banking turmoil

Stellantis is seeing clients seeking longer-term financing and leasing deals for their vehicles as a consequence of higher global interest rates, the carmaker's head for the business said. Chief Affiliates Officer Philippe de Rovira said loans which normally had a three-year maturity were now increasingly moved to four years. "This allows customers to get a car for a monthly instalment that is similar to that they had before," he said. The world's third largest carmaker by sales on Tuesday announced it had completed a plan announced in late 2021 to reshuffle and simplify its leasing and financing operations in Europe. Under its terms, Stellantis created a 50-50 single long term multi-brand leasing company named Leasys with Credit Agricole Consumer Finance. It also set up local joint ventures in European countries for its new Stellantis Financial Services unit, formerly Banque PSA Finance, with BNP Paribas Personal Finance and Santander Consumer Finance. "These banks have always had better funding conditions than those we can have as an automaker," de Rovira said. Benefits of the plan included cutting the number of financing and leasing entities the group runs in each country and the number of IT systems it uses, with expected savings exceeding 30% in this particular area, he added. De Rovira said the group had a huge portfolio of orders it had not yet delivered due to supply chain shortages impacting production. "Demand is not our main issue. The issue is to deliver as fast as we can cars that are in our order portfolio, which is still at record levels," he said. The group aims to expand its corporate leased vehicle fleet to more than one million units in 2026 and to double net income from its so-called banking activities to 5.8 billion euros ($6.3 billion) by 2030. De Rovira said Stellantis was not seeing a downward trend in vehicle pricing. "Probably the significant price increases we have seen in 2021 and 2022 will not be repeated because the context is changing, but for the moment we don't see decreases, we see stabilisation". ($1 = 0.9188 euros) (Reporting by Giulio Piovaccari and Gilles Guillaume; Editing by Jan Harvey) Earnings/Financials Plants/Manufacturing Alfa Romeo Chrysler Dodge Jeep RAM

Old Dodge vans are big in Japan

One of the great things about Japan and its car culture is that it plays host to some of the most unusual and unique vehicle trends in the world. Whether it's neon-clad Lamborghinis or luxury sedans with insane negative camber, the country always seems to have something new up its sleeve. One of the most surprising trends is track-ready, full-size Dodge vans called Dajibans, and the video above presents a great look at these absurd machines. This isn't the first time we've covered these racing Dodge vans, but it's a subculture too awesome not to merit a second look. For one thing, just as American fans of Japanese cars here like to use JDM (Japanese Domestic Market) parts on their cars, the owners of these Dodges like to use American parts. Many of the vans feature Little Tree air fresheners inside and even have Spectre air filters on the intakes. Who would've thought there would be a market for Autozone's bread and butter auto accessories? Plus, these vans get some other impressive mods. Notice that some vans that appear to have stock metal bumpers, but they're actually fiberglass replicas in the original shape and given a chrome-like paint job. The video's host, an Australian drift fanatic named Alexi who lives in Japan and runs website called Noriyaro.com, gets some great onboard footage, too. One of the vans he rides along in is powered by a generally stock 318 Dodge V8, and still has the original automatic transmission and column shifter. Impressively, the driver manages to manually shift it without grabbing the wrong gear, and even rev matches the shifts. Alexi explains that the driver can catch neutral in-between gears three and two, so there's a brief moment where he can blip the throttle. There's even more information in the video, and it's all fantastic fun to watch. If you decide you haven't seen enough of Dajibans, you can also check out our previous post on it, which is more polished and provides some history and context to the trend. Related Video: News Source: Noriyaro via YouTube Auto News Dodge Minivan/Van Performance Videos JDM trends

2015 Dodge Challenger R/T Scat Pack

We all knew That Kid. As a freshman, he was a big kid, overweight but surprisingly strong. Still, he was often picked on for his size. Then, he chatted with the football coach, who convinced him that his true calling was on the team's offensive line. After a season on the freshman squad and a summer of two-a-days, this mild-mannered, husky high schooler returned for his sophomore year as a big, imposing, solid piece of muscle. Needless to say, the same bullies that picked on him were praying he'd forgotten about them as a 10th grader.
That's the V8-powered 2015 Dodge Challenger. It arrived on the scene with a max of 425 horsepower and a bit of a weight problem. It completed its proverbial freshman year with a nice 2011 refresh, where the SRT8 was bumped up to 470 hp, but it still had some work to do.
Enter 2015, and fresh off three months of constant burpees and wind sprints, the newest Challenger is as big and powerful as it's ever been, but it's now got poise and potential, and my goodness, it's fun in a way that Dodge's muscle car has never been.