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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.

Jeep to reveal new 2018 Wrangler in November, document shows

Jeep's much-awaited next-generation 2018 Wrangler looks set for a November reveal, according to a product graphic released by an FCA employee on Twitter. The SUV off-roader will move from Toledo South to Toledo North for production, with no lost production during the changeover. Information about the 2018 Wrangler has leaked for years now in dribs and drabs. The recent leak of an owner's manual and user guide provided the most details to date, including engine version — a 2.0-liter turbocharged four-cylinder or a naturally aspirated 3.6-liter Pentatar V6 — plus features like a power sliding top, removable soft top and doors, foldable windshield, 4WD Auto mode. Options include a blind-spot monitoring system and heated seats. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The new Wrangler is expected to feature an evolutionary restyling, with a slightly more aerodynamic body, aluminum body panels, LED lighting, eight-speed automatic transmission and an available diesel powertrain. Jeep has also confirmed a pickup truck version to be revealed shortly after the Wrangler JL. Here's a running list of everything we know about the new Wrangler JL. The FCA chart also suggests Jeep will reveal its new Cherokee and Ram 1500 during the first quarter of 2018, likely at the Detroit auto show.Related Video:

Jeep CEO details the next Wrangler's push for efficiency

Jeep CEO Mike Manley's brief for the new Wrangler is a simple one – don't mess it up. But in that pursuit of keeping things proper, the affable Englishman has revealed that the brand is trying to walk a fine line while bringing its most iconic model into the 21st century. That's most important on the car's exterior. Like other long-serving American vehicles, the Wrangler is defined by its image. But even with aerodynamics playing a bigger role on the JK's successor, Manley was adamant during a conversation with Automotive News that the boxiness will carry on. "You have to be very careful with the aero of Wrangler, because at the end of the day, it needs to be recognizable as a Wrangler," Manley told AN. "To some extent that restricts you on some of the aero that you can do." Spy photos show a more rakish windshield and fascia, both key moves to lessen the aerodynamic impact of the Jeep's traditionally brick-like design. "But with weight and a number of the changes that we've made, you're going to see that we've really pushed that vehicle forward in terms of its fuel economy." The context of that last sentence points to a weight savings, something Automotive News backs up. While the Wrangler won't go all-aluminum, its frame is going to be lighter and stronger, and it will use aluminum for certain "hang-on" body parts. But this push for weight savings won't extend to the Wrangler's intangibles. It'll still ride on a body-on-frame architecture and feature solid axles at both ends, for example. Combine Manley's comments and AN's reports with news that the Wrangler will use an eight-speed automatic and offer diesel and four-cylinder turbo power in its next generation, and it's clear Jeep is trying to make the biggest strides in decades without alienating its die-hard fans. Related Video: Featured Gallery 2018 Jeep Wrangler Detailed Spy Photos View 18 Photos News Source: Automotive News - sub. req.Image Credit: KGP Photography Green Jeep SUV Off-Road Vehicles Mike Manley