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Stellantis sees vehicle loan durations extended amid banking turmoil

Stellantis is seeing clients seeking longer-term financing and leasing deals for their vehicles as a consequence of higher global interest rates, the carmaker's head for the business said. Chief Affiliates Officer Philippe de Rovira said loans which normally had a three-year maturity were now increasingly moved to four years. "This allows customers to get a car for a monthly instalment that is similar to that they had before," he said. The world's third largest carmaker by sales on Tuesday announced it had completed a plan announced in late 2021 to reshuffle and simplify its leasing and financing operations in Europe. Under its terms, Stellantis created a 50-50 single long term multi-brand leasing company named Leasys with Credit Agricole Consumer Finance. It also set up local joint ventures in European countries for its new Stellantis Financial Services unit, formerly Banque PSA Finance, with BNP Paribas Personal Finance and Santander Consumer Finance. "These banks have always had better funding conditions than those we can have as an automaker," de Rovira said. Benefits of the plan included cutting the number of financing and leasing entities the group runs in each country and the number of IT systems it uses, with expected savings exceeding 30% in this particular area, he added. De Rovira said the group had a huge portfolio of orders it had not yet delivered due to supply chain shortages impacting production. "Demand is not our main issue. The issue is to deliver as fast as we can cars that are in our order portfolio, which is still at record levels," he said. The group aims to expand its corporate leased vehicle fleet to more than one million units in 2026 and to double net income from its so-called banking activities to 5.8 billion euros ($6.3 billion) by 2030. De Rovira said Stellantis was not seeing a downward trend in vehicle pricing. "Probably the significant price increases we have seen in 2021 and 2022 will not be repeated because the context is changing, but for the moment we don't see decreases, we see stabilisation". ($1 = 0.9188 euros) (Reporting by Giulio Piovaccari and Gilles Guillaume; Editing by Jan Harvey) Earnings/Financials Plants/Manufacturing Alfa Romeo Chrysler Dodge Jeep RAM

Jeep Grand Cherokee Trailhawk revived and leaked

We'd love to tell you all about the Jeep Grand Cherokee Trailhawk you see here. Thing is, we don't really know all that much. That's because, according to our colleagues at Jalopnik, it hasn't quite been officially unveiled yet. But that's probably right around the corner, now that the cat is out of the bag. From the leaked images, we can tell that this Grand Cherokee Trailhawk is a lot like the Trailhawk that was produced as a special edition for the 2013 model year. Even the graphics look similar. Expect to see some aggressive tires to go along with all the best off-road goodies Jeep has to offer. Throw in some red tow hooks to match the contrasting interior stitching, mix together some underbody protection, and you've probably got yourself a Trailhawk. We'll have to wait until FCA decides to unleash the official goods to know for sure what we're looking at, but we doubt there's a supercharged V8 underhood. We do know that's coming, hopefully soon, but this isn't it. So, while we patiently wait for that Hellcat-powered Trackhawk to make an appearance outside the realm of spy shots, enjoy the Trailhawk you see here. Related Video: Featured Gallery Jeep Grand Cherokee Trailhawk Jeep SUV Off-Road Vehicles

2018 Jeep Wrangler spy shots give us best look yet

A couple weeks ago, we got a fairly comprehensive set of 2018 Jeep Wrangler spy shots. For fans of the JK-series Jeeps, it was all good news: the basic Wrangler Unlimited formula and shape is present and accounted for, meaning this new Wrangler will be an evolution of the current SUV, rather than a ground-up reimagining. The new shots give us some more detail than we had previously, and let us point out some JL Wrangler features that reaffirm FCA's conservative approach. First of all, the heavy camouflage doesn't manage to fully cover the exposed door hinges, just like in the current model, so those are a safe bet for the production version. The raked-back windshield might lose its ability to fold down, we've heard. The JL remains a body-on-frame truck with a solid front axle, evidenced by the front diff peeking out and the radius arms connected to them. The large exterior mirrors also appear to be carryover items, and the taillights look indistinguishable from the current JK. We expect the front fascia to remain clearly recognizable as a Wrangler, but don't be surprised if the headlight and sidemarkers incorporate some LED elements as a nod to current trends. Remember, the JL will spawn a pickup version, and will slim down for better fuel economy with some aluminum elements, likely incorporated in the body. We expect the Pentastar V6 to carry over, but be joined by a diesel and a mild hybrid at some point in the future. It'll be built alongside its JK predecessor for a short time in Toledo, Ohio. Related Video: Featured Gallery 2018 Jeep Wrangler Detailed Spy Photos View 18 Photos Spy Photos Jeep SUV Future Vehicles Off-Road Vehicles wrangler