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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.

Dodge recalls 2011-2016 Charger to give owners wheel chocks

A bizarre new recall gives wheel chocks to Dodge Charger owners so that people remain safe while changing the sedan's wheels. The campaign covers 441,578 examples of the 2011-2016 Charger in the US; plus 19,229 in Canada; 4,969 in Mexico, and 38,947 outside the NAFTA region. According to Dodge's announcement, owners should use the chocks to stabilize the Charger when using a jack to change the wheels, like in the case of a flat tire. Without them it's possible for the sedan to fall off the jack. The company is aware of three minor hand injuries from this problem. Dodge will notify owners by mail when they can pick up the free wheel chocks. FCA US spokesperson Eric Mayne offered Autoblog a more detailed explanation about this recall. "The body structure of this vehicle is unique. If owner's manual instructions are not followed, slippage may occur. Chocks are being provided to help ensure the instructions are followed," he said. "We are continually analyzing warranty data to identify ways to improve the ownership experience. When tire-jack data was reviewed, we identified a need to further assist our customers." Statement: Wheel Chocks February 3, 2016 , Auburn Hills, Mich. - FCA US LLC is conducting a voluntary safety recall to supply wheel chocks for an estimated 441,578 full-size sedans in the U.S. The chocks are for use, as instructed in the vehicle's owner's manual, when employing a tire jack to change wheels. When positioned diagonally opposite to the wheel being changed, the chocks will help stabilize the vehicle. Failure to follow the manual's instructions with an affected vehicle may cause the vehicle to come off the tire jack. FCA US is aware of three related injuries – all minor. The recall is limited to 2011-2016 Dodge Chargers. Also affected by the campaign are an estimated 19,229 cars in Canada; 4,969 in Mexico and 38,947 outside the NAFTA region. Recall notices will advise affected customers when they may obtain their wheel chocks, which will be supplied free of charge. Customers with questions or concerns may call the FCA US Customer Care Center at 1-800-853-1403.

Dodge hoping Fast & Furious appearance gives Dart a sales jolt [w/video]

According to Automotive News, Chrysler is hoping Fast & Furious 6 will be kind to the Dodge Dart. While the compact sedan doesn't actually show up in the film, Dodge has partnered up with the movie franchise for a new ad featuring the Dart.
Chrysler hasn't exactly seen the high sales numbers it was originally hoping for with the new sedan, thanks in part to a couple of missteps. For starters, most early-production vehicles were only offered with a manual transmission. Analysts believe Chrysler squandered around 95 percent of potential Dart sales because automatic transmission options weren't immediately available.
Right now, the Dodge Dart rakes 19th among compact cars, pulling down 31,064 sales through April. Last month was the company's strongest, with 8,099 units moving off of dealer lots. Unfortunately, the model has also been handicapped by its older sister, the Avenger. With Chrysler throwing heavy incentives at the aging sedan, many consumers have taken advantage of a better deal with the slightly larger, more powerful Avenger.