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Macron and Le Pen decry 'shocking' Stellantis CEO pay

PARIS — French President Emmanuel Macron and his far-right challenger in the French presidential vote, Marine Le Pen, on Friday both decried as “shocking” the multimillion euro payout to the CEO of carmaker Stellantis. Stellantis CEO Carlos TavaresÂ’ remuneration package of 19.15 million euros just a year after the company was formed became an issue as Macron and Le Pen campaigned ahead of the April 24 runoff vote. Polls show purchasing power and inflation are a top voter concern. Stellantis was formed last year through the merger of PSA Peugeot and Fiat Chrysler Automobiles. Centrist President Emmanuel Macron, perceived by many voters as being too pro-business, called the pay package “astronomical” and pushed for a Europe-wide effort to set ceilings on “abusive” executive pay. “ItÂ’s shocking, itÂ’s excessive,” he said Friday on broadcaster France-Info. “People canÂ’t have problems with purchasing power, difficulties, the anguish theyÂ’re living with, and see these sums. Otherwise, society will explode.” Far-right leader Marine Le Pen, who enjoys support from many working-class voters, called for bringing in more workers as shareholders. “Of course itÂ’s shocking, and itÂ’s even more shocking when it is the CEOs who have pushed their society into difficulty,” she said Friday on BFM television. “One of the ways to diminish this pay, which is often out of proportion with economic life, is perhaps to allow workers in as shareholders.” Stellantis continued to back the package despite a 52.1% to 47.9% vote rejecting it at an annual shareholders' meeting chaired from the Netherlands, where the company is legally based, on Wednesday. The company, citing Dutch civil code, noted that the vote is advisory and not binding. The company later said in a statement that it took note of the vote, and will explain in an upcoming 2022 remuneration report “how this vote has been taken into account.” In the 2021 report, the company identified peer group companies that it used as a salary benchmark, including U.S. companies like Boeing, Exxon Mobile, General Electric as well as carmakers Ford and General Motors. Stellantis, whose brands include Peugeot, Fiat, Jeep, Opel and Maserati, reported net profits last year had tripled to 13.4 billion euros ($15.2 billion). The French government is the third-largest shareholder in Stellantis, with a 6.15% stake through the Bpifrance Participations S.A. French public investment bank.

Dodge explains why it will build the Durango SRT Hellcat for only six months

Dodge will manufacture the 710-horsepower, Hellcat-powered Durango SRT only for approximately six months. The company explained that, while it won't stop production after building a pre-determined number of SUVs, it won't be able to extend the model's life cycle due to several manufacturing- and government-related hurdles. "The Durango SRT Hellcat is not limited, it's not serialized like what we did with the Challenger SRT Demon, but we're only building it for six months. With all of the changes we made in the plant to come back up to production post-COVID-19, with the sequencing and spacing in the plant, it's changed the numbers we can build," explained Tim Kuniskis, the head of Dodge, in an interview with enthusiast website Muscle Cars & Trucks. He added no one on his team knows precisely how many SUVs the Jefferson North factory on the outskirts of Detroit will put a Hellcat engine into. It largely depends on customer demand. Asked to provide an estimate, Kuniskis revealed he expects "less than 2,000" units will be made. They will all be 2021 models. In theory, Dodge could at least double that number by bringing the Durango SRT Hellcat back for the 2022 model year. It's not that simple in application, however, because the company won't be able to drop a supercharged, 6.2-liter V8 in its biggest SUV after 2021 without leaning on the wrong side of looming emissions regulations. "When we switch to the 2022 model year, there are new evaporative emission requirements that come in that the Hellcat engine does not meet in that platform," Kuniskis said. He also noted the Jefferson North factory will be busy retooling for production of the next-generation 2021 Jeep Grand Cherokee tentatively due out in 2020. Still speaking to Muscle Car & Trucks, Kuniskis clarified that the Hellcat-powered variants of the Charger and the Challenger will stick around in the foreseeable future; making them compliant with the upcoming emissions regulations is easier. And, he stressed the standard version of the Durango will carry on "completely interrupted." In other words: Act fast if you want a Durango SRT Hellcat. Dodge will begin taking orders in the fall of 2020, and production is scheduled to start in early 2021, with deliveries following shortly after. Pricing information hasn't been announced yet, but we expect its base price will be pegged in the vicinity of $90,000. Related Video:    

Autoblog Podcast #391

Episode #391 of the Autoblog Podcast is here, and this week, Dan Roth, Mike Harley and Brandon Turkus talk about the appointment of Kumar Galhotra to run Lincoln, changes coming for Scion, the Dodge Charger SRT Hellcat, and which cars won't live into 2015. We also take a quick detour to talk about the Infiniti Q50 Eau Rouge prototype, which Mike Harley just came back from driving. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the new rundown below with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #391: Topics: 2015 Infiniti Q50 Eau Rouge Prototype New boss at Lincoln Scion xB, iQ ending soon Dodge Charger SRT Hellcat Cars that won't live to 2015 In the Autoblog Garage: McLaren 650S Hyundai Genesis Hosts: Dan Roth, Michael Harley, Brandon Turkus Runtime: 01:42:06 Rundown: Intro and Garage - 00:00 Infiniti Q50 Eau Rouge - 30:05 Kumar Galhotra to Lincoln - 34:32 Scion Changes - 43:58 Dodge Charger Hellcat - 54:25 Discontinued Cars - 01:06:24 Q&A - 01:22:59 Get the podcast: [UStream] Listen live on Mondays at 10 PM Eastern at UStream [iTunes] Subscribe to the Autoblog Podcast in iTunes [RSS] Add the Autoblog Podcast feed to your RSS aggregator [MP3] Download the MP3 directly Feedback: Email: Podcast at Autoblog dot com Review the show in iTunes Hirings/Firings/Layoffs Podcasts Dodge Hyundai Infiniti Lincoln McLaren Scion Supercars mclaren 650s