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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.

2019 Ram 3500 Regular Cab Big Horn Review | No B.S., just lots of truck

While luxury trucks of all sizes from all makes are growing in popularity, they are particularly prevalent in the heavy-duty segment, where they tow toys worth far more than the truck itself. Want proof? The volume-selling GMC Sierra HD is actually its most expensive version: the Denali, slathered with leather and chock full of convenience features. But the person who buys this 2019 Ram 3500 4x4 Big Horn Regular Cab would say they don't care about any of that crap. This is a dedicated tool for towing and especially hauling — even more dedicated than the Ram 2500 HD that was also overhauled for 2019. It has a regular cab with a three-person bench and no back seat. It has the longest bed available at 8 feet with the heftiest payload. Packing a standard 6.4-liter 410-horsepower Hemi V8, it can tow as much as 17,490 pounds. The 3500 is also the only Ram pickup that doesn't have a coil spring rear suspension. The five-link setup with coils in the 1500 and 2500 are abundantly strong for their respective segments, while providing superior ride and handling to boot, but when you enter 3500 territory, the old-fashioned leaf spring is still required (an auto-leveling rear air suspension that still utilizes the leaf springs is optional, but our truck was not so-equipped). Remember this when you're choosing between 2500 and 3500 trucks, because if you don't need the 3500's extra capability (more on that later), you're going to be suffering when the bed isn't loaded or the tongue isn't attached to something humongous. The ride is quite simply appalling, crashing over bumps and launching you from your seat into the shoulder belt. The 2500's is far superior. But of course, anyone who has ever driven a "1-ton" pickup would find such a comment charming. "No kidding," they'd likely say, "tell us something we don't know." Well, it probably wouldn't be that the ride settled down substantially when I loaded it with a relatively paltry amount of weight. The 500 pounds of mulch I dropped into the bed was quite obviously a light lift for a truck with a 4,660-pound payload, but I can't dump river rock into every truck I test. I also didn't have a 17,000-pound something around to tow. I hereby apologize. Yet, the point of this heaviest-duty regular-cab pickup was still made. If you owned a number of different vehicles or needed something to keep on a ranch for working purposes only, this is exactly the type of truck to keep on hand.

FCA plants skipping summer shutdown to keep up with demand

Hopefully, some FCA US factory employees don't have big plans for the usual summer shutdown, because the automaker is keeping several plants running this year. Demand is so high that the company wants to keep models rolling off the assembly lines. Four FCA US assembly plants, all the engine factories, and some locations that build transmissions are staying open throughout the summer, according to the Detroit Free Press. Usually, these sites would see a two-week shutdown for the company to retool and perform repairs. This year, factories are staying open for FCA to support its strong sales. The lines that remaining humming through the summer show an inclination toward the automaker's popular SUV's and crossovers. They include the Jefferson North Assembly Plant in Michigan that builds the Jeep Grand Cherokee and Dodge Durango; Saltillo Van Assembly in Mexico that constructs the Ram ProMaster; Toledo Assembly Complex in Ohio that produces the Cherokee and Wrangler; and Toluca Assembly in Mexico that makes the Dodge Journey and Fiat 500. Related Video: News Source: The Detroit Free PressImage Credit: Bill Pugliano / Getty Images Plants/Manufacturing Dodge Fiat Jeep RAM FCA dodge journey fca us ram promaster Jefferson North Assembly Plant