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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 Classic Warlock adds Mojave Sand Package

Fiat Chrysler earlier this year brought back the old Warlock name from its Mopar division as a special edition for the Ram 1500 pickup truck. Now, the company is trotting out a new appearance package to go with the Classic Warlock. It’s called the Mojave Sand Package, and it adds a sport performance hood, 20-inch aluminum wheels painted black and the namesake exterior color. That pairs with the Warlock package, which is based on the Ram 1500 Classic and brings the R-A-M logo bluntly displayed on the heavy black grille, powder-coated bumpers front and rear, Warlock decals on the sides of the bed and a one-inch lift over the factory version. ItÂ’s available on the quad cab or crew cab models and comes with a choice of engines: either the 3.6-liter Pentastar V6, which makes 305 horsepower and 269 pound-feet of torque, or the 5.7-liter Hemi V8, which puts out 395 hp and 410 lb-ft. Warlock, of course, harkens to the custom version of the old Dodge pickup that was built from 1976 to 1979, having been introduced following positive public response to a truck originally designed as an auto show concept. It had chrome-plated running boards, oak sideboards and gold striping, wheels and upholstery. 2019 Ram 1500 Warlock View 14 Photos None of those features make it to the modern Warlock, unfortunately, but it does provide some value for truck lovers. The Mojave Sand Package adds to 10 color options on the Classic Warlock. All versions go on sale late in the third quarter starting at $37,040, including the $1,695 destination fee.

The 2019 Ram 1500 will wear a brand-new face

A day after a dealer meeting leak gave us a look at the 2018 Jeep Wrangler JL and 2019 Jeep Grand Wagoneer, we now have this, our first look at the 2019 Ram 1500. The renderings, which come from a printout titled "Ram Brand Lit Signatures" on the wall of a dealer meeting, gives us a clear look at the next-gen truck's front and rear fascias. At the front, the 2019 1500, codenamed DT, gets a more modern, sophisticated look with a refined grille that boasts a massive vertical bar and a skinner horizontal slot. The headlights are slimmer than the current model's square-like units and feature modern LED lamps. The lower end of the front fascia also has slim lighting elements that could be used for fog lights, along with an off-colored skid plate. The hood continues to sport the same bulge as the current model's, but is shaped like a pyramid instead of a massive rectangle. It looks like Ram took a page out of Ford's design book at the back with a rugged design that imitates the 2017 F-150. The taillights, while retaining the same overall shape, have an unlit section that would most likely be used for the reverse lights and turn signals. With the front end benefiting from LED lamps, the rear taillights would probably get LED units, as well. With Ram still testing new configurations of the 1500 and a document revealing FCA's future products, we expect the next-gen 1500 to come out in the near future as a 2019 model year. Related Video: Featured Gallery 2019 Ram 1500 Dealer Leak Spy Shots Image Credit: KGP Photography Design/Style Spy Photos RAM Truck rendering