2024 Ram 3500 Limited on 2040-cars

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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.

2020 Ram 1500 EcoDiesel Limited Drivers' Notes | Black gold

Ram didn’t have fuel economy numbers for us when we first drove the 1500 EcoDiesel, and because of that, a verdict could not be rendered. Today, thatÂ’s no longer the case. In maximum hypermiling 4x2 form, the EcoDiesel is rated at 22 mpg city, 32 mpg highway and 26 mpg combined. That puts it merely 1 mpg away from the Chevy Silverado Duramax, which achieves 33 mpg on the highway. In our testerÂ’s crew cab 4x4 configuration, it was rated at 24 mpg combined. The impressive efficiency can be attributed to the fully reworked 3.0-liter turbodiesel V6 under the hood. It makes 260 horsepower and 480 pound-feet of torque, with the full brunt of that torque being realized at a low 1,600 rpm. ItÂ’s a good thing, too, because the EcoDiesel redlines at 5,800 rpm. Towing maxes out at 12,560 pounds, and it has a payload rating of 2,040 pounds. ThereÂ’s a whole lot of truck to pull around, too. The crew cab backseat leaves enough space for even the tallest of riders to sprawl out, and the front seat is just as expansive and intimidating. As tested, our Ram 1500 was easily one of the most luxurious, expensive configurations one could possibly spec. It was done up in the highest Limited trim, which means every last premium material and feature is along for the ride. The base price was $58,660, but that doesnÂ’t mean Ram didnÂ’t find plenty of room for options. The most expensive of options happened to be the EcoDiesel engine itself, which comes in at $4,995. Yowza. Our truck also had the $3,995 Black Appearance Package, which adds an array of extras like 22-inch black wheels, a 19-speaker Harman Kardon audio system and black accents throughout the exterior. However, the 22-inch wheels were superseded by our truck's $795 Off-Road Group package that added 20-inch wheels with meatier tires, an electronic locking rear axle, multiple underbody skid plates and hill descent control. A $2,295 driver assistance package added adaptive cruise control, lane-keeping assist, a parking assistant, 360-degree camera and ventilated rear seats among other less notable features. Lesser charges like the $1,495 panoramic sunroof, $995 Multi-Function tailgate and $995 RamBox system all contributed to this truck's $75,610 final price. Senior Editor, Green, John Beltz Snyder: The interior in this Limited is busy.

2020 Ram Power Wagon Review | What mud?

A 2020 Ram Power Wagon is not your typical heavy-duty pickup truck. All of them try to be the tough kid on the block, but the Power Wagon goes even further. Just the name, Power Wagon, is synonymous with a tenacious, brash, and mean attitude.  “LetÂ’s go hop in my Power Wagon,” I shout at my friend. I donÂ’t even need to add anything else to that sentence to sound braggadocios. The Ram takes care of it for me. And I do mean hop into it. One does not gracefully step in and out of a Power Wagon, because it is simply far too high off the ground. There are side steps, but they're not one of those automatically-retracting ones that forms a staircase into the cabin. Instead, I grab the A-pillar handle, yank myself onto the step, and then swivel around to fall onto the large, comfy seat.  Once inside, the tough kid mantra starts to slip, but only slightly. Ram brought all the fancy interior appointments from the 1500 over to the Heavy Duty lineup with the 2019 refresh, which means the 2500 Power Wagon also gets all the goodies. Our heavily-optioned test truck doesnÂ’t feel rugged or basic on the inside at all. ItÂ’s covered in black leather, piano black and carbon fiber-look trim, metal accents and digital screens galore. There are still some rather large ‘Power WagonÂ’ badges here and there, plus the big mechanical transfer case shifter (the only Ram HD with one), but the inside is much more luxurious than one would expect from an off-road vehicle. 2020 Ram 2500 Power Wagon View 20 Photos Taking stock of my height relative to other vehicles on the road brings the reality of the Power Wagon back into perspective. Throughout my weekend behind the wheel, there wasnÂ’t another pickup that I passed or pulled up next to at a light that was sitting taller than me. This comes as no surprise, as the Power Wagon features a 2-inch lift from its custom suspension versus other Ram Heavy Duty trucks. It also has Bilstein shocks, front and rear locking differentials and an electronically disconnecting sway bar. Armed with all that, leaving the pavement is a must. Lacking any great off-road trails or logging roads in the southeast Michigan area, I turned the Power Wagon south and aimed for dirt roads. We had just received a few big rains in the area, and some of the dirt roads around here can get egregiously bad to navigate in winter. Thankfully, I found some mud.