2022 Ram 2500 Laramie Pickup 4d 6 1/3 Ft on 2040-cars

Auto blog

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

2019 Ram 1500 aces IIHS crash tests

The Insurance Institute for Highway Safety has finally performed crash tests on the completely redesigned 2019 Ram 1500 pickup truck, and it's mostly great news for the Ram. The Crew Cab earned the highest "Good" rating in all six crash tests. Impressively, that includes both the driver and passenger small overlap tests, which has been a rare feat. It's also the first truck to get a rating in that passenger-side test, thus is also the only truck with a "Good" rating for the crash type. The 2019 Ram also marks a major improvement over the previous-generation Ram, which only scored the second-lowest rating of "Marginal" in the driver small overlap test. The passenger side wasn't tested. The old Ram also only had a "Marginal" roof strength rating. In addition to having great crash test results, the Ram 1500 also earned the best possible rating for its optional forward collision prevention technology. It was capable of bringing the truck to a complete stop, avoiding a collision at speeds up to 25 mph. The Ram's only weak point was its headlights, which were rated "Marginal" at best. Because of the headlight performance, the IIHS didn't give it a Top Safety Pick award. This is a weak point for most trucks, as the only ones with headlight ratings above "Marginal" are the Honda Ridgeline and the 2018 GMC Sierra. The Ridgeline is also the only pickup tested by the organization to receive the Top Safety Pick award. With that being said, both the 2019 Ram 1500 as well as the 2018 Ford F-150 should qualify for the Top Safety Pick award if headlight performance improves. Note that the collision prevention and headlight ratings also apply to the Ram 1500 Quad Cab, but that the crash ratings do not. It's likely the IIHS will test that in the future. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Stellantis lays off salaried workers, cites uncertainty in EV transition

DETROIT — Jeep maker Stellantis is laying off about 400 white-collar workers in the U.S. as it deals with the transition from combustion engines to electric vehicles. The company formed in the 2021 merger between PSA Peugeot and Fiat Chrysler said the workers are mainly in engineering, technology and software at the headquarters and technical center in Auburn Hills, Michigan, north of Detroit. Affected workers were notified starting Friday morning. “As the auto industry continues to face unprecedented uncertainties and heightened competitive pressures around the world, Stellantis continues to make the appropriate structural decisions across the enterprise to improve efficiency and optimize our cost structure,” the company said in a prepared statement Friday. The cuts, effective March 31, amount to about 2% of Stellantis' U.S. workforce in engineering, technology and software, the statement said. Workers will get a separation package and transition help, the company said. “While we understand this is difficult news, these actions will better align resources while preserving the critical skills needed to protect our competitive advantage as we remain laser focused on implementing our EV product offensive,” the statement said. CEO Carlos Tavares repeatedly has said that electric vehicles cost 40% more to make than those that run on gasoline, and that the company will have to cut costs to make EVs affordable for the middle class. He has said the company is continually looking for ways to be more efficient. U.S. electric vehicle sales grew 47% last year to a record 1.19 million as EV market share rose from 5.8% in 2022 to 7.6%. But sales growth slowed toward the end of the year. In December, they rose 34%. Stellantis plans to launch 18 new electric vehicles this year, eight of those in North America, increasing its global EV offerings by 60%. But Tavares told reporters during earnings calls last month that “the job is not done” until prices on electric vehicles come down to the level of combustion engines — something that Chinese manufacturers are already able to achieve through lower labor costs. “The Chinese offensive is possibly the biggest risk that companies like Tesla and ourselves are facing right now,Â’Â’ Tavares told reporters. “We have to work very, very hard to make sure that we bring out consumers better offerings than the Chinese.