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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.

2018 Jeep Wrangler Rubicon Alaska Cannonball | Oregon is on fire

Our man Jonathon Ramsey is driving a Jeep Wrangler Rubicon on a 14-week, 14,000 mile journey across North America. Check out his first, second, and third installments.Port Orford, Ore. – On arrival at Battle Rock, just off the southern coast of Oregon, I had completed the (other) Trans-America Trail. It's a worthy Bucket List endeavor even before you get to the bits that challenge a Jeep Wrangler Rubicon. The first tests came in western Oklahoma, tiptoeing through and around swampy farmland. Once I got to Colorado, the difficulty scale increased with each day's driving. By the time I hit wildfires and constant detours in Oregon, I was ready for the trail to end. Here are a few more notes from the last half: When I filled up in Columbia, North Carolina just before getting to Oregon Inlet, the odometer showed 12,294 miles. When I filled up in Port Orford before heading north to Seattle, the odo read 18,008, for nearly 6,000 miles in three weeks. GPSKevin says his trail covers 5,184 miles, but detours are an unavoidable part of the experience. Utah wins my vote for the widest variety of beauty. Crossing into southeastern Utah from Colorado, the landscape is full of desert farms and endless visibility to mountains at the ends of the Earth in Monticello. It's plush high plains greenery on the way up and down Geyser Pass, then the rocky red pioneer-killing cauldron of The Spanish Valley and Moab. Scrub-filled rock formations stretch to Salina, then back up to verdant forests in both halves of Fishlake National Forest. A final rocky stretch west of Sevier, Utah fell into a rolling golden land past Black Rock, another trip into sparer mountains, then the final comedown to Baker, Nevada. Moab gets all the Jeep love, but there's plenty of fun all over the state. In Ely, Nevada I met a Harley rider headed east out of Oregon who told me, "It's all on fire. Whole state. On fire." The haze began not long after leaving Ely. By the time I departed Battle Mountain, Nevada hills showed their own scorched-earth scars, and science-fiction gray skies hid entire mountain chains. Detours were already longer and lengthier in the West because of closed roads, locked gates, and "No Tresspassing" signs. Now fire-centric detours and turnarounds joined the routine. The last day on the trail in Oregon, a 114-mile route from Glendale, through the Rogue River Siskiyou National Forest to Port Orford, was the hardest.

Alfa Romeo will gain a Jeep Compass-based SUV

It was reported earlier this week that FCA would invest into its Italian factories to ramp up production at currently underutilized locations. Those plans have now been clarified with official information from FCA, as reported by Automotive News. The entire investment is worth $5.7 billion. First of all, Alfa Romeo will gain a new compact SUV based on the Jeep Compass architecture. The still-unnamed model will be available as a plug-in hybrid, and it will be built in Pomigliano, Italy. No U.S. availability has yet been announced, but it would not be odd to see the Compass-based model sold below the Stelvio in the States. The last time Alfa Romeo had anything similar in its model portfolio was when it offered Crosswagon-badged four-wheel-drive versions of the 156 and 159 wagons. As for the Jeep Compass itself, it will begin to be built at the Melfi plant in Italy. The rumored small "baby" Jeep slotting under the Renegade has not yet been officially mentioned. Fiat will introduce a battery electric 500, built in Turin, and the Pomigliano plant that will make the compact Alfa Romeo SUV will also be used to build a mild hybrid version of the Panda city car. The 500X will gain a PHEV variant. The Stelvio platform will also spawn a corresponding SUV for Maserati, and FCA also mentioned Maserati will introduce a new, unnamed model it will make in Modena. Automotive News quotes Italian press as saying this will be the Alfieri coupe and convertible, also offered as battery electric versions. Related Video: