Alfa - Romeo - Spider - Black 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

For his last act, Marchionne will outline an EV/hybrid roadmap this week

MILAN/LONDON — Fiat Chrysler (FCA) boss Sergio Marchionne is expected to outline new plans for electric and hybrid cars in a strategy presentation on Friday, aiming to ensure the world's seventh-largest carmaker remains in the race in the absence of a merger. The 65-year-old will present FCA's strategy to 2022, his final contribution to the company he turned around and multiplied in value through 14 years of canny dealmaking. After failing to secure a tie-up he said was necessary to manage the costs of producing cleaner vehicles, Marchionne needs to show the group can keep churning out profits on its own, even as emissions rules tighten, SUV competition intensifies and worries around his succession abound. Marchionne had long refused to jump on the electrification bandwagon, saying he would only do so if selling battery-powered cars could be done at a profit. He even urged customers not to buy FCA's Fiat 500e, its only battery-powered model, because he was losing money on each sold. But Tesla's success and the need to comply with tougher emissions rules have forced Marchionne to commit to what he calls "most painful" spending. "FCA is way behind rivals in terms of hybrid and electric vehicles and they need to hit the accelerator to convince investors they can close that gap," said Andrea Pastorelli, a fund manager at 8a+ Investimenti. Germany's Volkswagen, Daimler, BMW and U.S. rivals GM and Ford have committed to spending billions of euros each in coming years to try produce profitable cars powered by cleaner fuels. FCA needs to present a clear roadmap, just like Volvo Cars, which ditched diesel from its best-selling XC60 SUV, launched a new electric brand and pledged to shift all brands to hybrid by 2019, a banking source close to FCA said, noting: "The tech divide determines winners and losers in the industry." Marchionne has already said half of the wider FCA fleet will incorporate some elements of electrification by 2022, while luxury marque Maserati will spearhead FCA's electrification drive by making all new models due after 2019 electric. But its plans remain vaguer and less advanced than most big rivals and some investors wonder about the capital required to make vehicles compliant, and what share of spending can go to electrification given FCA's numerous demands.

Is this designer sitting in Alfa Romeo's new SUV?

Well, well, well, what have we here? A picture of Lorenzo Ramaciotti, that's what. It was posted by Ralph Gilles on Instagram. But what's more interesting is what Ramaciotti is sitting in. And it appears to be a new crossover from Alfa Romeo. For those unfamiliar, Lorenzo Ramaciotti is one of the foremost designers in the Italian automotive industry. He served as head of Pininfarina until 2005, and in 2007 was named chief designer for the Fiat group. That's put him in charge of styling more Ferraris, Maseratis, Alfas, and others than we could name. But at nearly 68 years old, he's now preparing to retire, handing the reins to the design of everything that Fiat Chrysler Automobiles makes to his American counterpart Ralph Gilles. Gilles paid tribute to Ramaciotti with this photo and statement posted on Instagram. It shows the veteran designer sitting in the back of what looks to be an SUV. The thing is, though, that it doesn't look like any SUV or crossover we've seen to date. Judging from what we can see of the dashboard design – more angular and modern than rounded and retro – and given who's sitting in the back, we're likely looking at either an Alfa Romeo or a Maserati. Both are working on launching their first crossovers, but the similarity of the dashboard and center-stack design to that of the new Giulia suggests this is probably an Alfa. Whatever it is, it appears to have a rather tall but narrow tailgate, with a flat load floor extended by a fold-down rear bench. If Ramaciotti has done half the job with this crossover as he did with hits like the Ferrari 360 Modena or the Alfa 4C, we're sure it will be a stylish affair inside and out. We'll have to hold on to see how it pans out, but judging from the apparent level of completion of the product pictured, it shouldn't be long now. I have got to dedicate my year and this era of my career to one of my true Heroes, design Legend (& very soft spoken) Lorenzo Ramaciotti. Many of you may not have heard of him but have likely loved the cars he has had his hands in. Mr. Ramaciotti has had one of the most illustrious careers an automobile designer can have. Having led one of Italy's most famous design houses, #Pininfarina for 17 years and contributed there for an incredibly prolific 33 years. He came out of retirement in 2007 to lead Fiat design. In 2009 I met him as my colleague, global boss and most importantly a true mentor.