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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

Alfa Romeo teases 6C supercar taillight

Alfa Romeo's latest reboot takes its next steps this year with the arrival of the refreshed Giulia and Stelvio to the U.S. market, and the debut of the new Tonale. The Italians primed the pump with an Instagram video celebrating 2022 and asking if we're ready for 2023. At the end of the vid, Alfa Romeo answers its own question with, "We Are." And as it's clear to see, the first "e" is a brand new font we've not seen Alfa use before. Everyone expects this is a taillight from the supercar that brand chief Jean-Philippe Imperato starting hinting about last year, intel coalescing around the name 6C. If that ends up being the name, the new supercar would complete the trilogy of 2007's 8C and 2015's 4C.           View this post on Instagram                       A post shared by Alfa Romeo (@alfaromeoofficial) If Evo can be believed, the 6C will borrow much of its tech spec from the Maserati MC20. Even more unexpected, Evo says Alfa Romeo will advertise the halo as a bridge between its internal combustion era and its electric era, so the supercar will be offered with ICE and EV powertrains. An electric MC20 is on the way, so the plan won't be a tough jump. The most unexpected bit is when Evo says the Alfa Romeo supercar will use Maserati's in-house Nettuno V6 designed for the MC20, whereas most believe Alfa plans to go with the 2.9-liter V6 used throughout its lineup and in other halos like the Giula GTA/Am. If Evo is correct, this is sounding like another 8C, that car based on the Maserati GranTurismo and using Maserati's Ferrari-based engine of the time.  It's a bit of a challenge to reconcile Evo's report with some aspects of what Imperato said in an interview with Autocar. The honcho told Autocar, "It’s 1969 [the Spider] since the last time Alfa Romeo was stamped on a chassis" and it would be "a cool thing" to see again under his watch. We don't envision that happening to the Dallara carbon fiber monocoque chassis designed for the MC20. Imperato also said the automaker's still fine tuning the business case and that "the positioning is ongoing." If Alfa Romeo were nabbing the $260,000 MC20 practically wholesale, the only positions are super spendy supercar and wildly spendy supercar. Lastly, the all-electric MC20 Folgore isn't expected until 2024, the Alfa supercar at the end of 2023.

A few more details on Alfa Romeo's subcompact electric crossover for 2022

Last October, Alfa Romeo gave us a few details on a revised four-car lineup to be in place by the end of 2022. With the demise of the Giulietta later this year, the Giulia and and Stelvio would be the only models to carry on. Those two will be joined by a C-segment crossover in 2021 that we know as the Tonale, and a B-segment crossover in 2022 that we don't know much about, but that came with the asterisk, "BEV Variant Available." Autocar has begun putting together pieces of the electric model with a little help from Alfa Romeo. The mag expects the brand's fourth product to be around the size of a BMW X1 and ride on a PSA Group platform, specifically the Electric Common Module Platform (ECMP) already used by cars like the Peugeot e-2008 and Vauxhall e-Corsa. The size and expected specs make us wonder if the BEV crossover would make it here. We get the ICE-powered BMW X1 and Mercedes-Benz GLA, but we don't get the Audi Q2. The powertrain in the e-2008 puts an electric motor on the front axle with 136 horsepower and 192 pound-feet of torque, powered by a 50-kWh battery pack. Maximum range is 193 miles on the WLTP cycle, which could be considered a low bar for the American market even before factoring in the range reduction when tested on the EPA cycle. The Alfa won't be a re-branded Peugeot, though, with an automaker spokesperson telling Autocar the Italian automaker pledges to "stay consistent to Alfa Romeo’s sportiness and use electric motors for a performance approach." That could mean slightly more output from the motor, without compromising a comfortable ride. It will definitely mean switchable sound creation that aims "to get emotion from both the driver and car." We know Alfa Romeo will release the same crossover with an internal combustion engine, which we'd expect to sit on Peugeot's CMP bones, a likelier proposition for sales in North America. The subcompact won't simply shrink the look of the plug-in hybrid Tonale (pictured in concept form), but will have its own personality. “A family feel will be respected," the rep said. "We have style themes across the range – but we donÂ’t want to do a copy and paste across the lineup, because every segment has its own personality. ..." Unless there's another reboot before 2022, these four models will be the team Alfa Romeo plans to ride to 400,000 annual sales, more than three times the automaker's global sales in 2018.