New 2012 Dodge Ram 2500 St Save!! Crew Cab Short Bed Last Of 2012 Diesel L@@k on 2040-cars

Auto blog

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.

Tesla leads and Infiniti bleeds in Consumer Reports' satisfaction survey

According to Consumer Reports, Tesla owners are more likely to rave about their vehicles than any other brand. And we're not surprised — Tesla has performed very well in past customer satisfaction surveys, despite the fact that the electric cars themselves tend to have more problems than most other automobiles. Second place went to Lincoln, which interestingly had a higher cumulative score than Tesla in individual category measurements like comfort and storage space. Ram, a truck-only brand, rounded out the top three. The consumer-focused magazine bases its owner satisfaction score on responses to a very simple question: Would you buy this exact car again? The higher percentage of owners who answer "definitely yes" to that question, the higher the satisfaction score. Further breakdowns are scored for other parts of the ownership experience, which is why brands that rank poorly in Consumer Reports' own reliability charts — like Tesla and Lincoln, for example — can still earn top marks for satisfaction. The lowest-ranked brands for satisfaction are Cadillac, Nissan and Infiniti. Interestingly, Cadillac performed better than average in Driving and Comfort and middle-of-the-road in the In-Car Electronics and Cabin Storage, but like most other brands, scored poorly in Value. In fact, only Subaru, Mazda and Volkswagen scored better than average in Value. Nissan and especially Infiniti earned comparatively low marks across the board to go along with the bottom-of-the-barrel satisfaction score. Here's the full list of automakers from Consumer Reports' satisfaction survey, ranked in order from best to worst: Tesla Lincoln Ram Chrysler Subaru Hyundai Porsche Dodge Mazda Toyota Kia Mini BMW Ford Audi Honda Volvo Volkswagen Lexus Jeep GMC Chevrolet Mercedes-Benz Buick Cadillac Nissan Infiniti It's worth diving into the individual category scores in addition to the official finishing order for a full look at the results. For instance, despite the fact that automakers like Lincoln and Ford use similar infotainment systems, their In-Car Electronics scores don't quite match up. Also, some automakers have full lineups with multiple cars, trucks and SUVs while others offer just a couple of nameplates. Head on over to Consumer Reports for all the details. Looking for a reliable car, truck or SUV? Check out the top 10 vehicles that owners keep the longest.

Ram ProMaster enters 2022 with tech upgrades and a new transmission

Ram's full-size ProMaster van will enter the 2022 model year after receiving a round of much-needed tech updates. The changes include a more user-friendly infotainment system and a new transmission that improves gas mileage. Most of the major changes are found in the cabin, where the big van gains a seven-inch touchscreen that displays the Uconnect5 infotainment system. Ram states the software is five times faster than the last version of Uconnect. Buyers who want or need a bigger screen can pay extra for a 10-inch unit; both feature split-screen capability. The list of options also grows with the addition of a wireless charging pad, a 115-volt outlet below the USB ports, and a 7.0-inch full-color information screen in the instrument cluster (a 3.5-inch driver information screen comes standard). Switching to Uconnect5 is expected to make a significant difference. It features a customizable home screen, so users can move icons around like on a smartphone or a tablet, and it's compatible with the wireless versions of Android Auto and Apple CarPlay. Amazon's Alexa In-Vehicle Assistant is built-in as well, meaning motorists will be able to remotely start the engine, lock or unlock the doors, check the weather, or add items to their to-do list. If you find panel vans difficult to park, the ProMaster has you covered. It can be configured with a 360-degree surround-view camera and a digital rear-view mirror, among other electronic driving aids. Power still comes from a 3.6-liter Pentastar V6, which produces 280 horsepower and 260 pound-feet of torque, but it now shifts through a nine-speed automatic transmission; 2021 models shipped with a six-speed unit. Ram notes the three extra gears improve drivability and efficiency, though fuel economy figures haven't been released. Front-wheel-drive continues to come standard; it's an unusual configuration in a segment dominated by rear-wheel-drive. Properly equipped, the ProMaster can tow 6,910 pounds, according to Ram. Its payload checks in at 4,680 pounds. Electric power steering and a push-button electronic parking brake further improve drivability in urban environments. While there are no major visual changes, the 2022 range includes a Crew Van configuration designed for users who need to carry people and gear. It features a three-person rear bench seat, fixed side windows, and a partition. Ram dealers across the nation will begin receiving the 2022 ProMaster in the fourth quarter of 2021.