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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

2019 Ram 1500 eTorque Drivers' Notes Review | Filling in the gaps

When the 2019 Ram 1500 debuted earlier this year at the 2018 Detroit Auto Show, the biggest news was arguably the addition of the 48-volt mild hybrid system. Dubbed eTorque, the system is standard on V6-equipped models and a $1,450 option on trucks with the 5.7-liter Hemi V8. It's not a hybrid in the traditional sense. Despite Ram's claim that the system adds up to 130 pound-feet of torque on the V8, it only does so for a fraction of a second and doesn't actually change the engine's total output. You'd be hard pressed to notice a difference if you didn't know the system was there. But that's kind of the point. There's been a lot of confusion about what eTorque is and how the system works. Much of that falls on FCA's shoulders. The automaker didn't do a great job of explaining the whole thing, leaving us to work out much of it for ourselves. This isn't meant to boost performance, towing or payload. The Ram eTorque can't run on battery power, so don't expect a Toyota Prius with a bed and wood trim. It's here to make the truck just a little bit more efficient by improving areas where conventional internal-combustion engine's fall short. The eTorque system replaces the engine's alternator with a small, belt-driven electric motor. On the V6, the motor is part of the water pump assembly and driven by that belt; the V8 uses a dedicated belt that's separate from the other accessories. A small battery pack is mounted upright behind the rear seats inside the truck's cabin. There's also a DC-to-DC converter to charge the battery and convert 48 volts down to 12 to power the truck's normal systems. Visually, the only difference between an eTorque-equipped model and a standard one is a small metal box at the top of the engine. There's no badging and the battery pack can't be seen, even with the rear seats folded up. The system is designed to be as seamless and innocuous as possible. The auto start/stop system spins up the engine a little quicker. Shifts from the eight-speed ZF automatic transmission are a little smoother as the eTorque system smooths out and fills in the gaps. It does so for a fraction of a second, but it works its magic often. Big gains in fuel economy have already been made. It's going to take things like Ram's eTorque system to improve internal combustion engines from here on out. Editor-in-Chief Greg Migliore: I'd like to say I noticed a huge difference between the Ram eTorque and the regular Ram, but I didn't. That's how it's supposed to work.

Mopar updates owner apps to make car ownership easier

Owners of any Fiat Chrysler vehicle will want to head to the Apple App or Google Play store to download the latest version of their brand-specific smartphone app. Developed by Mopar, the new suite of FCA Owner apps specific to each brand pack a number of valuable features. For starters, the apps let owners access information like maintenance schedules, service history and recall notices. The apps also include an array of how-to information and instructional videos, offer push notification for important updates like maintenance offers and recall alerts, and allow customers to schedule test drives and receive quotes from their local dealers for new vehicles. But that's just the tip of the proverbial iceberg. The FCA Owner apps also feature an augmented reality function that helps drivers identify instrument-panel icons. There's a Parking Reminder feature that helps drivers remember where they parked their car, guides them back to their parking spot and tracks the time left on the meter. Finally, there's an Accident Assistant feature that helps drivers record the specifics of an accident, upload insurance information and take photos of the scene. It'll even help find the closest certified collision repair facility, schedule an appointment and access roadside assistance. The apps are available for any Chrysler, Dodge, Ram, Jeep, Fiat or Alfa Romeo built from 2011 till today, and are available for either iOS or Android. If you've got more than one FCA vehicle in your garage, you needn't download multiple versions of the app as they'll work on any model the Italian-American automaker offers. Mopar Enhances FCA Owner Apps - Redesigned FCA Owner apps offer a wide range of VIN-specific information - Owners can access maintenance schedules, service history, recall notices and more - "Augmented reality" function, beginning with 2015 models, allows owners to use camera feature on mobile devices to scan and identify instrument panel icons - Industry-first Accident Assistant feature helps owners easily document important accident information and quickly locate a certified repair facility - Individual brand versions of the app support all FCA brand vehicles - FCA Owner apps are free to download for both iOS and Android mobile devices May 29, 2015 , Auburn Hills, Mich. - The Mopar brand has redesigned and enhanced its suite of FCA Owner apps, putting more resources than ever at owners' fingertips with easier access to vehicle and lifestyle information.