2020 Ram 2500 Power Wagon 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.

FCA recalling Ram trucks for steering wheel and brake pedal issues

WASHINGTON — Fiat Chrysler Automobiles said this week it would recall 882,000 pickup trucks worldwide in two new recalls to address steering and pedal issues. The Italian-American automaker said it was recalling about 660,000 heavy duty Ram 2500 and 3500 pickup trucks from the 2013 through 2017 model years, including 574,000 in the United States, as drivers could potentially experience steering loss. A nut could come loose and prevent drivers from being able to steer the vehicle, Fiat Chrysler said, adding it had reports of one injury and eight accidents possibly related to the issue. The company will also recall 222,000 2019 Ram 1500 pickup trucks worldwide to better secure brake pedals while the vehicles' adjustable-pedal feature is in use. The brake pedal could get detached if drivers move pedals to the rear-most position, the company said. That could be dangerous if trucks are traveling at highway speeds. Last month, Fiat Chrysler recalled about 180,000 2019 Ram 1500 pickups to tighten a fastener linked to reports of power-steering loss. Fiat Chrysler said the issue could lead to steering problems.