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Chrysler to replace transmissions on 159 2014 Ram 1500s

Some recalls we report on are bigger than others. This one involves a big vehicle, but only 159 of them. No, not 159,000. Just 159.
The vehicle in question is the Ram 1500 - specifically the 2014 model, and more specifically than that, those made over the course of 12 days in late January and early February of this year. According to the statement below, Chrysler was notified by one of its transmission suppliers that a small shipment of gearboxes might have difficulty shifting into Park.
Although the Auburn Hills, MI-based automaker says it is unaware of any accidents or injuries having resulted from the issue, and has not received any specific complaints, it is notifying the owners of the 159 trucks in question to bring their pickups in for service and, if necessary, to have the entire transmission replaced.

2020 Ram 2500 Power Wagon caught completely undisguised

The next-generation Ram 2500 Power Wagon was spied without a hint of camouflage covering it on the road. New headlights and taillights are full LED units, and they look epic. The design is reminiscent of the 1500, but Ram definitely put a slightly different spin on them. It resembles the Ram Rebel to a certain degree, but with a dose of more hardcore truck-style to it. We're digging the look for now. Traditionally, the Power Wagon is a much more off-road ready Ram. We'd expect this one to have the same locking differentials front and rear, a front anti-roll bar disconnect and a lead for a winch cable, leaving it the only factory truck that offers a winch. The engine is most likely the same 6.4-liter V8 with 410 horsepower too. Its bumpers are entirely new, along with the fender flare design on this truck. It all comes together and gives the Ram Power Wagon its traditional look while still meshing with the complete redesign the 2019 Ram 1500 received. How Ram let this 2020 model year truck venture out into the world uncovered is mighty confusing. Maybe Ram wanted everyone to see it? We'll only be guessing for the time being. The 2500 Power Wagon is expected to make its debut in 2019. We'd imagine the most likely scenario for that one is at the Detroit Auto Show in January where the redesigned 2019 1500 was revealed. For now, feast your eyes on the next Power Wagon to grace our roads. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

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.