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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.

FCA Partners With Goolge, Marchionne Is New CEO Of Ferrari And We Spy The 2018 Jeep Wrangler | Autoblog Minute

Greg Migliore recaps the week in automotive news, including a look at the FCA, Google partnership, Ferrair's new CEO, and the 2018 Jeep Wrangler. Ferrari Jeep Autoblog Minute Videos Original Video FCA

Jeep gives a trio of customs an encore showing at SEMA

While Jeep certainly had some new customs on display at this year's SEMA show, it wasn't afraid to recycle a few that people might have missed from earlier this year. The maker of many beloved off-roaders already displayed the Jeep Cherokee Dakar, Maximum Performance Wrangler and Wrangler Mojo at the 2014 Easter Safari, but they all made it to SEMA for an encore.
Based around the Trailhawk, the Cherokee Dakar (pictured above) imagines an even more off-road-capable version of the crossover. The concept wears a mix of Silver Steel Stain paint with Flame Red graphics and rides on 17-inch wheels wrapped in 33-inch BFGoodrich Mud Terrain tires. To back up the rugged look, the Dakar is fitted with rock rails and skid plates protecting the oil pan, front suspension, fuel tank and other underbody parts. It also sports prototype parts from Jeep Performance Parts, including a lift kit and fender flares.
The Wrangler is one of the paragons of off-roading, and as the name suggests, the Maximum Performance Wrangler concept is meant to be the ultimate example of what it can do. The custom features locking Dana 60 axles front and rear, a 4:1 Rock-Trac transfer case, prototype 4-inch lift kit and 37-inch Mud Terrain tires over beadlock wheels. To stay on the trails well into the night, a bar of LEDs is mounted above the windshield. And finally, the Mopar Blue exterior kind of makes the vehicle look like the world's toughest blueberry.