2014 Drw Laramie Longhorn Mega 4x4 Navigation Sunroof Leather Heated Diesel on 2040-cars

Auto blog

2022 GMC Hummer EV No. 001 at Barrett-Jackson brings $2.5 million

This year's Barrett-Jackson auction in Scottsdale, Ariz., played host to a bunch of the first examples of hot new cars: VIN No. 001 of the 2022 GMC Hummer EV, 2022 Cadillac CT5-V Blackwing and CT4-V Blackwing, 2021 Ford Bronco, 2021 Ford Mustang Mach 1 and 2021 Ram 1500 TRX. Every single one of them sold for more than six figures, with all the proceeds of nearly $5 million going to charities, but the big winner was absolutely the Hummer with a hammer price of $2.5 million. The Bronco did nicely, too, with a selling price of $1,075,000. You can see the list of the sale prices from highest to lowest of these first examples below. GMC Hummer EV: $2,500,000 Ford Bronco: $1,075,000 Ford Mustang Mach 1: $500,000 Ram 1500 TRX Launch Edition: $410,000 Cadillac CT5-V Blackwing: $265,000 Cadillac CT4-V Blackwing: $165,000 Despite the Hummer going for $2.5 million, it wasn't the most expensive car to cross the block. That honor goes to a 1966 Shelby Cobra 427 Super Snake that was once owned by Carroll Shelby himself. It sold for $5.5 million, the same price it sold for back in 2007. Nearly as pricey as the Hummer was a restored, numbers-matching 1967 Ferrari 275 GTB/4 that went for $2,475,000. Related video:

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.

Ram Multifunction Tailgate swings into the pickup truck tailgate fray

Let the tailgate wars escalate, says Ram. Today, the Ram 1500 responds to GMC's Multi-Pro tailgate with its own fancy way to get stuff in and out of the bed. Named the "Multifunction Tailgate," (very creative, we know) Ram decided to give the tailgate a 60/40 split. Before we get into functionality, just take a peek at how it looks closed. On the red Ram Rebel chosen to show it off, you're greeted with a sizable black line running down the entire height of the tailgate in an odd spot. The off-center nature of the split makes for a strange look no matter the angle. We have a feeling that a black truck would solve any kind of visual weirdness going on here. On to the important part: How does it work? For starters, you can use it just like a normal truck tailgate. Drop it down with a release button on the handle, or use the remote release. Ram says it doesn't give up anything in capability or toughness in this down position — it has a 2,000-pound load rating. What makes this tailgate unique is its swinging functionality, though. The tailgate is capable of swinging both sides open like doors. Think Honda Ridgeline, but there are two elements to swing out instead of just one. This allows for closer access to the truck bed. The benefits are obvious: easier loading and unloading, easier washout, and you can even use a forklift to load it up now, too. Both of the barn doors swing out to 88 degrees. It's possible to have just the right or just the left door open, or both at once. Ram Multifunction Tailgate View 10 Photos Ford started this tailgate war with its now simple-looking bed step, but now it finds itself the most back-to-basics offering in the group. GMC officially has the most complicated piece of tech with the various foldouts and all-out size, but Ram is somewhere in the middle with this one. We were fans of the swing-out tailgate on our long-term Honda Ridgeline, so let's hope this one proves just as useful. Ram will be at the Chicago Auto Show with this tailgate, so we'll be sure to give it a thorough shakedown on the show floor. Any 2019 Ram 1500 can be equipped with the tailgate as an option for $995. The center step can be tacked on separately for $295. We're told to expect Rams equipped thusly to roll into dealerships during the second quarter of 2019. Related video: