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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.

Reveling in the reveals: BRZ, Civic, Wrangler, QX55

It’s almost like there should have been an auto show this week. If youÂ’re an enthusiast, you know the week before Thanksgiving is when the Los Angeles Auto Show kicks off. This year, thereÂ’s no L.A. show, at least until next May. But Subaru, Honda, Jeep and Infiniti rolled out significant new products this week, making us almost nostalgic for auto shows. Serendipity, or more likely previously allocated marketing budgets, gave us a familiar feel of new products, even though we couldnÂ’t feel or touch them under the bright lights of the Los Angeles Convention Center. LetÂ’s break them down: 2022 Subaru BRZ 2022 Subaru BRZ View 62 Photos Subaru stuck to basic formula here: The 2022 BRZ remains a rear-wheel drive sports coupe thatÂ’s supremely lightweight, adequately powered and attractive. Subaru debuts its new boxer four-cylinder in the BRZ. ItÂ’s rated at 223 hp and you need to rev all the way to 7,000 rpm to achieve that output. I'd prefer a bit more than the 184 lb-ft of torque the powerplant offers (reasonably low in the band at 3,700 rpm), for some more off-the-line grunt. Say 200 lb-ft, though itÂ’s almost a cliche to argue the BRZ is underpowered.  The outgoing BRZ is one of the purest cars IÂ’ve driven, so rather than harp on the power, which will ultimately be fine, give Subaru props for focusing on chassis improvements to improve rigidity by 60 percent and aid turn-in. Admirably, the curb weight is less than 2,900 pounds, and the manual in Premium trim checks in at the lowest, just 2,815 pounds.  Aesthetically, I like it. ItÂ’s busier than before, and thereÂ’s a lot more going on with the front fascia, wheel arches and fenders. ThereÂ’s a bit of a Porsche vibe up front, which is good, and a bit of a Honda Civic vibe in back (think 2010) thatÂ’s not.  ItÂ’s impressive that Subaru resisted the urge to gratuitously power up the BRZ and remained focused on the essence of its goodness and appeal to enthusiasts. 2021 Jeep Wrangler 392 2021 Jeep? Wrangler Rubicon 392 View 75 Photos What effect will the 2021 Ford Bronco have on the Jeep Wrangler? One school of thought is that it will actually make the Jeep better, and the 2021 Wrangler 392 is proof positive that will be the case. With the Bronco attracting spectacular levels of attention, Jeep could not sit idly by and remain focused on incremental changes. It needed to make a splash.

2018 Jeep Grand Cherokee TrackHawk shows off its hellish supercharged V8

We've seen the spy shots of this thing, the 2018 Jeep Grand Cherokee TrackHawk, before. But only from the outside. The external changes are plenty telling, but there was always the slight chance we were looking only at an extra-hot SRT version, not a full-blown (pun intended) TrackHawk with a Hellcat motor. Until the hood goes up, there's no telling what we're really looking at. Well, seeing is believing. We have been looking at TrackHawks all along. And Mike Manley, Jeep's CEO, wasn't selling the world a bill of goods when he said to expect the thing "by the end of 2017". As you can clearly see in the slightly noisy engine shot, that's a supercharger parked on top of FCA's 6.2-liter V8, just like in the Charger and Challenger Hell-twins. Chances are it'll make the same power as it does in those two – 707 hp, in case you're just waking up from cryo-stasis and aren't aware of the most famous power output figure on the planet. There are some differences between this Grand Cherokee and ones we've previously pegged as TrackHawks. The fog lights in the lower grille vents are gone, and the rear fascia gets a bit more aggressive. Perhaps these will be the external details that separate the TrailHawk from the lowly non-supercharged SRT versions. We've also been hearing about quad exhaust tips, but haven't seen them on a prototype yet. If Jeep wants to get this thing out on the road by the end of the year, we're likely to see it coming to an auto show soon. Keep your eyes peeled. Related Video: