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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.

2019 Ram 1500 Tradesman Drivers' Notes Review | Basically great

The 2019 Ram 1500 is the first major redesign for FCA's best-selling model since 2009. The outgoing truck was a favorite among the Autoblog staff, and this new model only looks to be a wholesale improvement. This Ram 1500 Tradesman may be the entry-level model, but it gives us a good baseline for the rest of the range. Our truck was a crew-cab four-wheel drive variant. Options include the $795 sport appearance package, $545 trailer towing package, $450 for a spray-in bedliner and of course $1,195 destination charge. All-in, our tester rang up at $45,195. Editor-in-Chief Greg Migliore: This was my first taste of the 2019 Ram, and FCA's truck guys did a solid job with the redesign. It's comfortable, powerful and has gutsy styling. Critically, I think the interior is best-in-segment. Regardless of trim or spec, the Ram offers an intuitive layout with nice materials and a pleasing, functional design. All of this comes through in the Tradesman, which is Ram's go-to-work truck. You get the basics and the grunt, without the frills. Our tester still comes in at $45,195 thanks to a slew of options like the Hemi V8, rear power sliding window, satellite radio, sport appearance pack and trailer tow fittings. Plus, this one is a crew cab with four-wheel drive, which starts at a higher price point than a smaller, V6-powered Tradesmen. So it's not totally no-frills, but this work truck did give me a good taste of the new Ram in a clear, distilled manner. I like it. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Senior Editor, Green, John Beltz Snyder: After getting out of the Ford F-150 and into the Ram 1500 Tradesman, I noticed a few things right away. I was especially taken by the thought put into the organization of the Ram's interior. There's a lot of useful space for storage throughout, including a clever cubby in front of the passenger seat. The center front seat folds down to serve as a console with cup holders, or folds up to create a true bench seat. Slide on over, baby. Driving it, this is definitely more truck-like than the F-150 I had just been in. It's noisier, bouncier, and generally less comfortable. It feels like the real deal, though, and if you're driving a truck because you like trucks, this definitely scratches that truck itch better than the Ford. Associate Editor Reese Counts: I love this truck. The Ram 1500 has long been my favorite full-size pickup.

Ram with a Hellcat V8 coming? Could be, but let's review the evidence

While Fiat-Chrysler has gradually been stuffing bigger V8s into everything it can, one brand that hasn't received any SRT or Hellcat love is Ram. This, despite showing a Raptor-fighting TRX concept with a detuned engine in the fall of 2016. But according to Allpar, there may be a Ram 1500 coming in the near future with the fabled supercharged V8, and at full power. Interesting theory, but let's take a closer look. The two bits of evidence the site points out are (a) an anonymous inside source saying a vehicle is in development, and (b) a displayed time in Ram press photos. If you look closely, some of the Ram interiors show the time 7:07 on the infotainment display. This corresponds with the Hellcat engine's 707 horsepower. Allpar further speculates that the vehicle will be Rebel-based due to a preponderance of the number in Rebel interiors. This wouldn't be the first time FCA has hinted at a future model's power via infotainment time, either, as it did so with the Challenger Demon. View 6 Photos There are some holes in this theory, though. We went back and looked at the press photos of the interiors, and the 7:07 time shows up on Bighorn Rams, too. And not every single Rebel interior has the time. There's at least one that shows the time 8:29, which appears on various other Ram interior shots. Also, while FCA did manage to make a full-time all-wheel-drive system for the Grand Cherokee Trackhawk to stand up to the Hellcat's ferocious power, we doubt that drivetrain would be used in a Ram, since it's a much different application. The final nail in this theory's coffin might be that the head of Ram Trucks communication told us that the times in the images are a "complete coincidence" and that "this theory is all speculation." All things considered, we think the odds of a Hellcat-powered Ram reaching production soon, particularly an off-road version like Allpar suggests, is pretty iffy. We wouldn't rule out some sort of Hellcat-powered Ram completely. At the very least, putting a Hellcat V8 into a two-wheel-drive Ram for a street truck would make loads of sense. It would be less expensive to develop compared to a Raptor competitor, it wouldn't have any existing competition, and it could capitalize on the history of the Viper-powered Ram SRT-10 from the mid-2000s. And as we've seen, FCA has no problem stuffing absurdly powerful V8s into everything it can, from Charger to Durango to Grand Cherokee. So, don't count on a Hellcat-powered Ram yet.