2024 Ram 3500 Tradesman Crew Cab 4x4 8' Box on 2040-cars

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Stellantis won't race to split electric vehicles from fossil fuel cars

MILAN - Stellantis is not considering splitting its electric vehicle (EV) business from its legacy combustion engine operation, its finance chief said on Thursday, as the carmaker presented above-expectation revenue data for the first quarter. Chief Financial Officer Richard Palmer told analysts he did not see huge benefits in the kind of separations pursued by rivals such as France's Renault and U.S. Ford. "We need to manage the company and the assets we have through this transition," he said. "There are benefits to having the cash flow being generated by the internal combustion business for the investments we need to make." Palmer said the group, formed by a merger last year of Fiat Chrysler and Peugeot maker PSA, was not averse to considering adjusting its structure "but we aren't anticipating any big changes." Palmer's comments came after the world's fourth largest carmaker said its net revenue rose 12% to 41.5 billion euros ($44.1 billion) in the January-March period, as strong pricing and the type of vehicles sold helped offset the impact of the semiconductor shortage on volumes. That topped analyst expectations of 36.9 billion euros, according to a Reuters poll. Milan-listed shares were up 0.5% by 1415 GMT, in line with Italy's blue-chip index. The impact of the chip crunch was evident in the decline in shipment figures which fell 12% in the quarter to 1.374 million vehicles. It was a similar story for Germany's BMW which posted higher revenues on Thursday and a decline in car sales. Riding the Recovery Stellantis, whose brands also include Citroen, Jeep and Maserati, confirmed its 2022 forecasts for a double-digit adjusted operating income margin, after 11.8% last year, and a positive cash-flow despite supply and inflationary headwinds. Morgan Stanley analysts said after the results that Stellantis had better management than many peers and benefited from its significant exposure to a stronger U.S. economy and a European recovery from the COVID-19 pandemic. They also said it was less affected by a slowing Chinese economy. Palmer said it was important for the group to maintain double-digit margins and keep delivering positive cash flows. "A 12% increase in revenue with a 12% decrease in volumes indicates a very strong performance on price and mix, which augurs well for our margin performance," he said. He said semiconductor supply problems were expected to ease this year with continued improvements in 2023.

Prosecutors indict three FCA employees in alleged emissions-cheating case

Federal prosecutors indicted three Fiat Chrysler Automobiles (FCA, now Stellantis) employees as part of an investigation into alleged emissions cheating. Charges unsealed on April 20, 2021, accuse the defendants of helping rig the emissions control system fitted to the 3.0-liter turbodiesel V6 used in some models during the 2010s. Prosecutors claim Emanuele Palma, Sergio Pasini, and Gianluca Sabbioni played a determining role in developing a defeat device that allowed the V6 to obtain certification from the Environmental Protection Agency (EPA) while polluting too much in normal driving conditions. Jeep and Ram began making the engine available in the Grand Cherokee and the 1500, respectively, in 2014, but the charges state plans to game the EPA started in 2011. Palma, Pasini, and Sabbioni knowingly mislead federal regulators, the charges claim; they called it "cycle beating," according to The Detroit News. While the three men were part of FCA's research and development department, they started the project while working for an Italian supplier named VM Motori, which FCA purchased in 2013. Pasini and Sabbioni are each charged with one count of conspiracy to defraud the United States and to violate the Clean Air Act, one count of conspiracy to commit wire fraud, and six counts of violating the Clean Air Act. They could spend several years behind bars if they're found guilty. Both are currently in their home country of Italy. Palma's legal troubles are more serious. He was charged with several counts in September 2019, though four wire fraud charges were dropped in November 2020. He lives in Bloomfield Hills, a city located on the far outskirts of Detroit. Prosecutors claim motorists spent over $4 billion on over 100,000 trucks and SUVs fitted with the non-compliant engine between January 2013 and September 2017. FCA has already agreed to pay $800 million to resolve civil claims from the Justice Department, state officials and customers, though it significantly has not admitted guilt. It stressed that "it did not engage in any deliberate scheme to install defeat devices to cheat emissions tests."

Current Ram 1500 sticking around into 2019

Ram is preparing a big redesign of its 1500 pickup truck for 2018, but for fans of the current truck, don't feel like you need to rush out to grab one – it's sticking around until 2019. That's according to Automotive News, whose sources spoke on condition of anonymity. The move allows Ram to take a two-prong approach to truck sales, offering the current model as a low-cost option for fleet users while pushing retail consumers toward the new pickup. The factories that build the 1500 today – Warren, MI, and Saltillo, Mexico – will assemble around 200,000 trucks in 2018 and 65,000 in 2019 before Ram phases out the older model. Meanwhile, FCA's Sterling Heights, MI, plant will screw together 325,000 redesigned 1500s starting in 2018, with production to increase to over 400,000 units in 2019. While Ram refused to comment when AN reached out, FCA CFO Richard Palmer hinted at the move during a conference call last week, saying "having more pickup capacity will allow us also to satisfy the fleet customers' demand on pickup, which we struggle to do today because we favor retail in the U.S. and Canadian volume, which have higher margins." "As we realign our capacity, we're going to be able to continue to work on improving our fleet mix," Palmer said. Beyond making a play for fleet buyers, continuing to build the current 1500 guarantees dealerships maintain a solid inventory as Ram ramps up production of the new truck. You can check out leaked images of the redesigned Ram here. According to Automotive News, the new truck won't use aluminum, like the Ford F-150, relying on steel instead. FCA's 3.6-liter V6 will provide thrust along with turbocharged options, although there's no mention of the venerable 5.7-liter Hemi V8. Don't read too much into that, of course – we'll eat our shoe if the 1500 ditches the popular eight-cylinder. It's still too early to predict when the 2019 Ram 1500 will debut, but it will likely happen in 2018 at the North American International Auto Show in Detroit or perhaps at a non-auto show event. Related Video: