2006 Jeep Wrangler on 2040-cars

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Stellantis moves to set up its own lending unit

Stellantis is buying Houston-based auto lender First Investors Financial Services Group to set up its own finance arm in the U.S., a move that should support sales and eventually boost profit. The only major traditional automaker in the U.S. without its own finance company agreed to pay $285 million to a group of investors led by Gallatin Point Capital and Jacobs Asset Management, according to a statement. The transaction is expected to close by year-end. Stellantis was formed via the merger between Fiat Chrysler and PSA Group early this year. Carlos Tavares, the PSA boss who became the combined company’s chief executive officer, called the deal to acquire First Investors a milestone that will increase earnings and enhance customer loyalty. “Direct ownership of a finance company in the U.S. is a white-space opportunity which will allow Stellantis to provide our customers and dealers a complete range of financing options,” Tavares said Wednesday in the statement.  Having an in-house finance company has helped rivals General Motors Co. and Ford Motor Co. pad profits, especially during the global semiconductor shortage that has limited production and crimped sales. GM bought subprime lender AmeriCredit Corp. in 2010 and renamed it GM Financial. The operation generated a $2.76 billion profit in the first half -- roughly a third of the companyÂ’s adjusted earnings before interest and taxes. Trouble for Santander? The First Investors acquisition could spell trouble for Chrysler Capital, the operation that Santander Consumer USA Holdings Inc. and Chrysler set up in 2013 before the U.S. automaker completed its merger with Fiat. In a statement, Santander Consumer said itÂ’s committed to supporting Stellantis through the term of their existing agreement and its transition. Santander Consumer will also have “ongoing conversations with Stellantis about long-term mutually beneficial opportunities beyond 2023,” the company said, adding that its consumer business remains strong and has “delivered solid results for our shareholders.” This, along with support from its parent company, will allow the lender to “pursue additional opportunities as they arise.” The lenderÂ’s U.S.-listed stock fell 1.5% in New York trading Wednesday after Bloomberg reported Stellantis was preparing to announce a new finance partner. Stellantis shares rose as much as 1.3% in Paris trading Thursday.

New spy photos of the next Jeep Wrangler reveal a backup camera

The new Jeep Wrangler JL is on the way, and we have new spy photos that give us our best look yet. The few vehicles seen in these photos all appear to be the four-door Wrangler Unlimited model, but we know the two-door and pick-up versions are coming as well. No word on when the new model, code-named JL, will debut, but don't expect to wait too much longer before Jeep finally finishes pulling off the wraps. While the Wrangler still is covered in test car camouflage, the "diaper" coverings have been removed from the side. But we still can't tell how the new removable roof and side panels will fit. One new nugget that we can spot is the spare-mounted backup camera. At least the Wrangler is keeping its rear-mounted spare. The overall shape hasn't changed much, but there would be pitchforks and fire in Toledo if Jeep strayed too far from the current design. Like the Porsche 911, the Wrangler's general design is permanently etched in stone. The grille is exposed on a few shots showing the new back-canted seven-slot setup that recalls the YJ generation of Wranglers. The windshield on the new model now appears to be fixed and tilted at more of an angle. Like we said, small changes. Related Video: Featured Gallery 2018 Jeep Wrangler Unlimited Spy Shots Image Credit: Spied Bilde Spy Photos Jeep SUV Off-Road Vehicles jeep wrangler unlimited jeep wrangler jl

Wrangler Pickup, Triumph Fined, Cherokee Production Moves | Autoblog Minute

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