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Stellantis sees vehicle loan durations extended amid banking turmoil

Stellantis is seeing clients seeking longer-term financing and leasing deals for their vehicles as a consequence of higher global interest rates, the carmaker's head for the business said. Chief Affiliates Officer Philippe de Rovira said loans which normally had a three-year maturity were now increasingly moved to four years. "This allows customers to get a car for a monthly instalment that is similar to that they had before," he said. The world's third largest carmaker by sales on Tuesday announced it had completed a plan announced in late 2021 to reshuffle and simplify its leasing and financing operations in Europe. Under its terms, Stellantis created a 50-50 single long term multi-brand leasing company named Leasys with Credit Agricole Consumer Finance. It also set up local joint ventures in European countries for its new Stellantis Financial Services unit, formerly Banque PSA Finance, with BNP Paribas Personal Finance and Santander Consumer Finance. "These banks have always had better funding conditions than those we can have as an automaker," de Rovira said. Benefits of the plan included cutting the number of financing and leasing entities the group runs in each country and the number of IT systems it uses, with expected savings exceeding 30% in this particular area, he added. De Rovira said the group had a huge portfolio of orders it had not yet delivered due to supply chain shortages impacting production. "Demand is not our main issue. The issue is to deliver as fast as we can cars that are in our order portfolio, which is still at record levels," he said. The group aims to expand its corporate leased vehicle fleet to more than one million units in 2026 and to double net income from its so-called banking activities to 5.8 billion euros ($6.3 billion) by 2030. De Rovira said Stellantis was not seeing a downward trend in vehicle pricing. "Probably the significant price increases we have seen in 2021 and 2022 will not be repeated because the context is changing, but for the moment we don't see decreases, we see stabilisation". ($1 = 0.9188 euros) (Reporting by Giulio Piovaccari and Gilles Guillaume; Editing by Jan Harvey) Earnings/Financials Plants/Manufacturing Alfa Romeo Chrysler Dodge Jeep RAM

2020 Ram 1500 and heavy-duty trucks get Night and Black Edition packages

Ram traveled to the Texas State Fair to introduce a pair of pickups you might not be able to see in the dark. The murdered-out trucks are called Black Edition and Night Edition, respectively. The Black Edition is based on the range-topping Limited variant of the 2020 Ram 1500. It receives -- you guessed it -- a wide panoply of black accents on the grille, tow hooks, bumpers, door handles, and door mirrors. Ram also added black 22-inch alloy wheels and a tonneau cover. The Limited is only offered with a 5-foot-7 cargo box and four doors, but Black Edition buyers can choose two- or four-wheel drive. Engine options include the base gasoline-burning 3.6-liter V6, 3.0-liter EcoDiesel V6, and the mighty 5.7-liter Hemi V8. Rest assured if you plan to work on your own truck, none of the engines receive a coat of black paint, so you'll be able to see what you're doing.  Note that the 2019 Ram 1500 Big Horn and Laramie trim levels is already available with a Black Appearance package, which we reviewed this year. Effectively, the Black Edition extends that darkened courtesy to the range-topping Limited.  The Night Edition package is for the Heavy Duty line of trucks, but it looks a lot like the aforementioned Black Edition trim. It adds a black grille with a body-colored frame, black emblems, and black bezels around the lights, and black wheels. Single-axle trucks get 20-inch wheels, while dually models ride on 17-inch alloys with machined pockets.  The Night Edition package is available on the Big Horn and Laramie variants of the 2500 and 3500 models. Ram noted it can only be paired with a Crew Cab or a Mega Cab. Engine options include the 6.4-liter Hemi V8 and the 6.7-liter Cummins straight-six turbodiesel with 1,000 pound-feet of torque. FCA says the Ram 1500 Limited Black Edition will be reaching dealers late third quarter 2019, which would be any day now. Buyers who want the Heavy Duty-based model will need to wait until "later fourth quarter." The Black Edition starts at $55,385, including destination, a figure that represents a modest $75 premium over the more colorful model. The Night Edition model carries a base price of $39,690, including destination. Pricing for the standard 2020 Heavy Duty hasn't been announced yet, so we don't know how much the package adds to the truck's bottom line.

CES Part 2: Honda/Sony Afeela, BMW i Vision Dee and more | Autoblog Podcast #763

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor James Riswick and Associate Editor Byron Hurd. This week, they pick up from last week and dig deeper into some of the reveals and news coming from this year's Consumer Electronics Show (CES) including the Ram 1500 Revolution, the Afeela EV collaboration from Sony and Honda, Peugeot Inception, BMW i Vision Dee and VW ID.7, among other highlights and musings from the show. They also discuss the cars they've been driving, including the BMW iX, Mercedes EQS SUV, two-door Bronco Badlands, Mazda CX-50 Meridian Edition and Toyota RAV4 Wilderness Edition. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #763 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown CES 2023 Ram 1500 Revolution Sony Honda Mobility Afeela EV prototype Peugeot Inception BMW i Vision Dee Volkswagen ID.7 Cars we're driving 2023 BMW iX 2023 Mercedes EQS 450 SUV 2022 Ford Bronco Badlands Two-Door 7MT 2023 Mazda CX-50 Meridian Edition 2023 Toyota RAV4 Woodland Edition Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Green Podcasts CES BMW Ford Honda Mazda Mercedes-Benz RAM Toyota Volkswagen Peugeot Truck Coupe Crossover SUV Concept Cars Electric Luxury Off-Road Vehicles Performance Sedan Afeela