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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

Junkyard Gem: 1992 Alfa Romeo 164S

Even after Citroen, Fiat, Renault and Peugeot departed the United States (in 1975, 1983, 1988 and 1991, respectively, though Malcolm Bricklin continued to sell Fiat 124 Sport Spiders and X1/9s with Pininfarina and Bertone badges for a few more years), Alfa Romeo managed to hang on all the way through 1995. The final Alfa Romeo models available here (prior to the brand's return to our shores in 2009) were the old-school Spider Veloce sports car and the mean-looking 164 sedan. The 164 sold well enough here that I still see examples on the street now and then, and I find discarded ones in car graveyards as well. Today's Junkyard Gem is the top-of-the-line 164 available in 1992, the mighty S version, found in a Denver self-service yard last month. In 1992, American Alfa shoppers could spend $25,865 on the base 164, $29,456 on the more luxurious 164L, or $32,054 for the factory-hot-rod 164S (that's about $50,885, $57,950, and $63,060, respectively, in inflation-adjusted 2021 dollars). Comparing the numbers of the 164S against those of the BMW 535i for 1992 make the Alfa look like quite a deal. The big-engined 535i boasted 208 horsepower and had a $44,350 sticker price, while the monstrous M5 had 310 horses… but would set you back $58,600). That means the Alfa cost just under 75% as much as its Bavarian rival. Meanwhile, the Alfa 164S had this 3.0-liter V6 making 200 horsepower. That gave the 535i and 164S near-identical power-to-weight ratios (17.2 lb/hp for the BMW, 17.4 for the Alfa). Admittedly, the 164S's power went to the front wheels while the 535i had rear-wheel-drive, but the Alfa's 3.0 looked and sounded much better than the BMW's 3.4 (and it's nearly impossible to make a V6 sound better than a straight-six, as anyone who has endured the ailing-bovine groan of most 1990s Detroit V6s can affirm). You could get a four-speed ZF automatic on the 164 and 164L in 1992, but the 164S had just one transmission available: a five-speed manual. This car isn't rusty and the interior looked very nice for a near-30-year-old car in Colorado, but there are few with the mechanical skills and sheer bravery to take on one of these cars with nearly 200,000 miles on the clock. Its next stop shall be The Crusher. This Euro-market commercial is for the 164 with quad-cam "super" V6, available here only for the 1993 through 1995 model years, but you get the idea. In Europe, Alfa Romeo outsold both Honda and Saab! What better reason to buy a 164?

2023 Alfa Romeo Giulia Estrema bridges the Quadrifoglio gap

Alfa Romeo is expanding the 2023 Giulia range with a model named Estrema that was developed for driving enthusiasts. Also available on the 2023 Stelvio, the Estrema trim level bridges the gap between the Veloce variants of both cars and the high-performance Quadrifoglio. "Estrema" is Italian for "extreme," and in this case it denotes a car that — in Alfa Romeo's words — was designed for "a connoisseur of driving." The list of standard features grows with the addition of a limited-slip rear differential and the adaptive Alfa Active Suspension system for both comfort and performance. These updates may not sound major, but they should make a perceptible difference on the kind of twisty roads that the Estrema models were created for. Car-spotters will be able to pick out the Estrema versions in a crowded parking lot by looking for carbon fiber exterior accents (including the piece of trim that underlines the grille), specific wheels that measure 19 inches on the Giulia and 21 inches on the Stelvio, dark "Estrema" emblems and black brake calipers. Inside, there's more carbon fiber, red contrast stitching and a blend of leather and Alcantara upholstery.  The Estrema models aren't any more estrema under the hood than the versions that they're based on. The only engine available in the United States is a 2.0-liter four-cylinder turbocharged to deliver 280 horsepower and 306 pound-feet of torque. Rear-wheel-drive and an eight-speed automatic transmission come standard on the Giulia, though Alfa Romeo's Q4 all-wheel-drive system is available at an extra cost, and the Stelvio is exclusively offered with all-wheel-drive. With the Q4 system, the Giulia reaches 60 mph from a stop in 5.1 seconds. On sale now, Alfa Romeo's Estrema models are scheduled to reach dealers across the nation in the third quarter of 2022. Buyers have four colors to choose from: Alfa White, Alfa Rosso, Misano Blue, and Vulcano Black. Pricing is set at $56,685 for the rear-wheel-drive Giulia, $58,685 for the all-wheel-drive model, and $60,545 for the Stelvio. Note that these figures include a mandatory $1,595 destination charge. Related Video: