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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.

The Jeep Grand Cherokee Trackhawk is pretty much good to go

We've been stalking the Jeep Grand Cherokee Trackhawk for months, and now we're getting our best look yet at the devilishly powerful sport utility vehicle. From a distance, the JGC looks almost stately in black. Look closer and you see the SRT badges and the big brakes. Look past the wrappings and you see large air intakes in the lower fascia. All of this reinforces the Trackhawk's performance pedigree, which will be anchored with the 6.2-liter supercharged Hemi Hellcat V8. It's rated at 707 horsepower in the Charger and Challenger Hellcats. The Jeep will use four-wheel drive. These up-close images show off the Trackhawk's simple design. Like the Dodge Hellcats, Jeep appears to be letting the power and capability stand on their own. Previously, we've only seen the Trackhawk from a distance or in blurry video. The Trackhawk's arrival comes as Fiat Chrysler expands Jeep's global presence. The company is increasingly looking to its venerable off-road brand for sales volume, image building, and profits as it re-aligns its car business and looks for potential partners. The Trackhawk looks nearly production ready, and we expect it to go on sale in 2017. Also, don't confuse it with the Trailhawk, which is a trim level you can buy on the 2017 Grand Cherokee. Related Video: Featured Gallery Jeep Grand Cherokee Trackhawk Spy Shots View 15 Photos Image Credit: KGP Photography Design/Style Spy Photos Jeep SUV Off-Road Vehicles Performance

2019 Jeep Renegade, Fiat 500X fuel economy revealed, slightly improved

The 2019 Jeep Renegade and Fiat 500X twins each get a new engine option, a turbocharged 1.3-liter four-cylinder. At 177 horsepower and 210 pound-feet of torque, it's substantially more potent than the 160-horsepower turbocharged 1.4-liter engine it replaces, and nearly matches the naturally aspirated 2.4-liter engine for power while beating its 175 pound-feet of torque. But we haven't known until now is how the new engine fares in terms of fuel economy. The numbers are a little tricky to parse, since both the Jeep and Fiat have changed what transmissions are available, as well as what combinations of engine and driveline are offered. We'll start with looking at the Jeep Renegade. It offers both the new turbo engine and the old 2.4-liter engine, but the manual transmission is gone, and the Renegade Trailhawk gets the turbo engine instead of the naturally aspirated one. All the numbers are below. Overall, the new turbo engine coupled with front-drive and the standard nine-speed auto returns better fuel economy than even the old manual-equipped combo. Both all-wheel-drive models do worse, though, with the automatic and the new engine than with the old engine with a manual. The new turbocharged Trailhawk also doesn't do as well on the highway as the old model, but does better in town. Fuel economy is unchanged for the 2.4-liter versions of the Renegade. 2019 Fiat 500X View 11 Photos The Fiat 500X range is simpler to follow, since only one variant is available now: the turbo 1.3-liter engine with all-wheel drive and an automatic. It's not quite as frugal as the fuel-sipping manual, front-drive turbo model from last year, but it does offer noticeable gains over the 2.4-liter versions. All the numbers are below.