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Toyota, Lexus dominate KBB's Best Resale Value Awards

Toyota and Lexus stormed the 2014 Kelley Blue Book Best Resale Value Awards, winning a combined 18 categories including best brand and best luxury brand. This marks the third year in a row that both automakers have won the Brand and Luxury Brand resale value awards. In all, Toyota won 11 categories and Lexus won seven.
Honda made a good showing, as well, winning two segments (Accord Plug-In Hybrid and Civic Si) and putting one car on the top-10 Best Resale Value list (CR-V). Chevrolet did even better, winning two segments (with the V6 Camaro and the Corvette) and placing three cars on the top-10-overall list (again, the Camaro and Corvette, plus the Silverado 1500).
The other winners came from Jeep, Dodge, Infiniti, Subaru and Audi. To give you a clearer picture of the Toyota and Lexus domination, their 18 mentions represents more than half of the 34 awards (including the top-10-overall list).

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.

Fiat Chrysler to test automatically switching hybrid cars to electric mode in Turin

MILAN — Fiat Chrysler is piloting a project in its historic Italian home of Turin to allow its hybrid plug-in cars to automatically switch to electric-only mode when entering congested city centers. The project, which aims to maximize the environmental benefits of hybrid cars, comes as Fiat Chrysler (FCA) rolls out its first alternative-engine models, trying to make up ground on rivals which already offer a range of full electric and hybrid vehicles in Europe. The project, named 'Turin Geofencing Lab' and involving the city authorities and public transport agency GTT, is based on a prototype system with fully integrated on-board sensors allowing a car to recognize when it is entering a restricted traffic zone, FCA said on Wednesday. The sensors will then automatically turn off the combustion engine and switch to electric mode. This would allow hybrid cars to enjoy dispensations for electric vehicles in the city center, including dedicated parking spaces. The system has been initially tested on the new Jeep Renegade 4xe hybrid plug-in model. The tests could be extended to the group's other hybrid models from next year. The COVID-19 crisis has not significantly delayed FCA's plans to launch its first full-electric and hybrid models. An electric version of the Fiat 500 small car and plug-in hybrid versions of Jeep's Renegade and Compass models are due to hit the market this summer. A similar project was launched last year by German carmaker BMW and Rotterdam, with a smart-phone reminder to switch-off combustion engines when passing a virtual boundary into the Dutch city's "electric-only zone." But that did not entail such a direct link between the vehicle and the city's access platform and gates to restricted traffic zones, as in Turin's case. Roberto Di Stefano, FCA's Head of EMEA e-Mobility, said that once the Turin project was completed, it would be gradually offered to other cities, in Italy and abroad.   Green Chrysler Fiat Jeep