2021 Ram 3500 Limited on 2040-cars

Auto blog

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's new six-figure TRX Sandblast Edition hides in plain sight

The Ram 1500 TRX gets a new appearance package for 2022, this time leaning into the 702-horsepower supercharged supertruck's desert-shredding antics with a new Mojave Sand exterior paint and accompanying accent package. Together, it's called Sandblast. And it's brown. "Our customers want to stand out from the crowd and the new Ram 1500 TRX Sandblast Edition allows them to do just that, while offering the segment’s best combination of performance, capability and technology," said Ram boss Mike Koval Jr. "WeÂ’re constantly expanding and exploring new ideas to meet the needs and fuel the imagination of our passionate customers and this is the latest example of how Ram trucks deliver features that will continue to win over more and more buyers." The appearance package builds on the existing TRX "Level 2" build. In addition to the unique Mojave Sand finish, 18-inch bead lock capable wheels and the Sandblast graphics package, it receives Light Frost interior accent stitching, "TRX" embroidery on the seats, unique carbon accents and a HUD display with the TRX finished to match the Sandblast's exterior.  With destination, the Sandblast will set you back $100,080 including destination — almost exactly $20,000 more than a base-model 2022 TRX. And that's not including the markups. Good luck.  Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Mopar Muscle is Monster Jam's first OEM monster truck in over a decade

New monster trucks seem to join the Monster Jam circuit every year, but it's not often that one gets the official blessing of an automaker. That's about to change, however, as Chrysler's truck division has teamed up once again with Hall Brothers Racing - which already fields the championship-winning Raminator and Rammunition trucks - to field the series' first new Original Equipment Manufacturer monster truck in over a decade.
Dubbed Mopar Muscle, the new Ram monster truck will debut at the Monster Jam in Detroit on Saturday at Ford Field, at the first of six such events in which Mike Miller (who, incidentally, named his son Hemi) will drive the truck throughout the year.
Here's what you need to know: Based on a 2014 Ram HD pickup (or at least made to look like one), Mopar Muscle stands 10 feet tall and weighs over 10,000 pounds, and it's powered by the legendary Gen II 426 Hemi that celebrates its 50th anniversary this year. But instead of leaving the massive 7.0-liter engine as is, Hall Brothers Racing enlarged it to 565 cubic inches - a mind-boggling 9.3 liters - and supercharged it to 2,000 horsepower. That's a whole lot of muscle no matter what it's packed into. Check it out in our high-res image gallery above. You can also check out the full schedule of events in the press release below to see if the truck is coming to your area this year.