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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

Some Jeep Cherokees and Chrysler 200s to get standard stop-start in 2015

Automakers the world over are striving to find ways to make their models more efficient, and Chrysler has a solution for some versions of the 2015 Chrysler 200 and 2015 Jeep Cherokee (2014 model shown). The Tigershark 2.4-liter four-cylinder in the 200 and the 3.2-liter Pentastar V6 in the Cherokee are getting a slight boost later this year thanks to the addition of Chrysler's Engine Stop-Start system as standard equipment. The company predicts modest gains - a three-percent improvement in fuel economy and a three percent reduction in CO2 emissions with the new tech compared to without it. While it's not much, those who sit in traffic a lot may see a difference.
Chrysler's stop/start system uses a high-speed starter motor to restart the vehicle in a claimed a third of a second. It works by detecting when the vehicle comes to a stop and turning off the engine. A more powerful battery maintains all of the model's accessories while it sits. When the driver lets off the brake, the car starts up again to drive away. There is even a button in the cabin to turn the ESS off, if desired.
The Jeep will be the first to receive ESS in the third quarter of this year to coincide with the start of production of the 2015 model-year version. The 200 will follow in the fourth quarter as a rolling change in production.

Junkyard Gem: 1983 Jeep DJ-5L Mail Dispatcher

When it comes to putting mail in boxes, a simple and reliable vehicle works best. Say, a zero-frills steel box on wheels, with right-hand-drive, a fuel-efficient four-cylinder engine, no-hassle automatic transmission, sliding doors, and a big mail-sorting table instead of a passenger seat. That's what the AM General Mail Dispatcher DJ-5 was all about, and these bouncy little trucks were everywhere for decades. Here's a late-production example, still in USPS colors, spotted in a Denver-area self-service wrecking yard. Neither snow nor rain nor heat nor gloom of night stayed this courier from the swift completion of its appointed rounds. Note the "Sonic Eagle" USPS logos on the doors; this became the official USPS logo in 1993, nearly a decade after the final Jeep DJ-5s were built. Plenty of these trucks stayed in service into our current century, and a few are still being used by private mail-delivery contractors in rural areas. During the American Motors era of Jeep DJ production (1970 through 1984), a bewildering assortment of engines went into postal Jeeps. This is a 2.5-liter GM Iron Duke four-cylinder; before that, DJ-5s came with Audi power (more or less the same engine used in the Porsche 924, in fact), AMC straight-sixes, and Chevy Nova four-cylinders. The 1984 DJ-5Ms ran the AMC 2.5-liter four-cylinder. The earliest DJs were equipped with three-speed manual transmissions, but the American Motors-built postal-delivery versions all had automatic transmissions. This one has a three-speed Chrysler Torqueflite A904, a weird engine/transmission combination that should help you stump your friends during car-trivia debates. Check out the ultra-bare-bones heater/ventilation controls! These trucks were badged as AM Generals, not Jeeps (I couldn't find a single Jeep label anywhere on this one), just like the original HMMWV. However, you'd have to be a real hair-splitter to refer to this as an AM General DJ-5 instead of just Mail Jeep or Jeep DJ-5. Next time you complain about your subcompact rental car lacking driver-comfort features, consider this vehicle. I had a few high-school friends who owned DJ-5s, back in the early 1980s when they were available for a couple hundred bucks at government-surplus auctions. The first thing civilian DJ-5 owners always did was tear out the mail-sorting table and replace it with a random junkyard bucket seat (or an aluminum lawn chair). These trucks were very noisy, very bouncy, and very slow, but they always ran.