2014 Ram 1500 Tradesman/express 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.

2022 Ram 1500 gets reworked options to maintain production

Ram was in the mood to giveth at this year's Chicago Auto Show, unveiling three new special edition trucks for the 2022 model year. Mopar Insiders reports Ram is lately in the mood to taketh away, removing or reworking options and features on nearly every trim with the aim of keeping pickup truck production lines running. The biggest blow to the bank account comes from Ram eliminating the Quad Cab on all but the two base trims, Tradesman and Big Horn (called the "Lone Star" in Texas). Seems most buyers on the Laramie and above go with the larger Crew Cab and aren't worried about spending a couple thousand dollars more; the Crew Cab on the Laramie, for instance, is $2,150 more than the Quad Cab. Truck shoppers watching pennies can forget about saving money up front in order to add certain luxuries, too. Come 2022, the smaller cab style can't be ordered with any kind of sunroof, air suspension, Technology Group, or Power Running Boards. When it comes to trims, starting at the bottom, the 2022 Tradesman won't offer an air suspension with any cab style, nor Ram Box storage, nor the multifunction Tailgate. If there's an EcoDiesel under the hood it will only be the HFE version, the standard EcoDiesel nixed on the Tradesman. The HFE variant makes one more mile per gallon in the city and on the highway than the standard EcoDiesel. The Big Horn/Lone Star loses its multifunction tailgate, and the colors Mountain Brown and Frost Beige. To get the rear underseat storage requires ordering either the Level 1 or Level 2 Equipment Groups, the storage can't be had an a standalone option. One step up, the Ram Rebel drops the luxury Rebel 12A package that added a 12-inch Uconnect screen with navigation, nine-speaker audio, and leather-trimmed bucket seats. The trimmed buckets seats will migrate to the Rebel Night Edition package that now costs $525, but can be expected to increase. And the cloth and vinyl bucket seats that now come in black with either red or silver accent stitching will come only in black and red. The Laramie, Limited Longhorn and Limited all shed the Protection Group that added underbody skid plates on the 4x4 models. The Laramie and Limited Longhorn will go almost entirely without any two-tone paint option, the exception being Ivory White and Walnut Brown solely for the Limited Longhorn. On the Laramie, as on the Tradesman, the rear underseat storage goes from being an individual option to part of a group, in this case the Level 1 Equipment Group.

2023 CES Editors' Picks

Over the past few years, it has become more and more clear that the Consumer Electronics Show is a car show. And this year that reality is more clear than ever. Not only did established automakers show off seriously important vehicles, but a traditional electronics company brought a car that gives an idea of its intents (with the help of establishment car company). With so many car reveals, we had to rank our favorites. Our picks for this show are entirely electric. Or at least, they are on paper, since many are concepts. Considering the name of the show, it would be a little strange if they weren't. In fact, not only are many of our favorites concepts, they all are save for one. See how they shook out below. VW ID7 camo View 28 Photos 5. Volkswagen ID.7 "The ID.7 definitely got lost in the crowd at CES. That it was camouflaged definitely didn't help, even if that camo was electroluminescent (BMW trumped it big time with its color-changing Dee). Nevertheless, this is a close-to-production hatchback-ed sedan, not unlike today's Arteon, with an extra-long wheelbase courtesy its EV architecture. It should be a solid answer to the Tesla Model 3 and Hyundai Ioniq 6, and even if people obviously prefer SUVs now, VW says there is still a market for sedans. I know I'd probably prefer one." –Senior Editor, West Coast and Reviews, James Riswick Peugeot Inception concept View 12 Photos 4. Peugeot Inception "It's not often that show debuts surprise us. While Peugeot teased the Inception ahead of CES, its unveiling seemed almost incidental. But just look at this thing; it's like an electric French Mustang with someplace important to be. I don't buy into the stupid 'It's not a wheel!' thing that Peugeot CEO Linda Jackson described as providing a video-game-like drive experience, but that bit of silliness aside, this is a really promising design study. Give us more of these and fewer tall boxes, please." –Associate Editor Byron Hurd Afeela prototype from Sony Honda Mobility View 11 Photos 3. Afeela by Sony Honda “Ever since Sony showed off an impressively put-together concept car at CES a few years ago, IÂ’ve been anticipating the companyÂ’s next move. Apparently, that next move is “Afeela.” No, I donÂ’t love the name. The specs from SonyÂ’s original concept car give me hope that this prototype sportback (itÂ’s a hatchback!) will be fun to drive, though.