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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

9 thoughts about the Alfa Romeo Giulia Lusso

The 2023 Alfa Romeo Giulia Lusso is the type of car that reminds you why you love cars in the first place … and why everyone has perhaps gotten a little too practical in their automotive tastes. This is a car filled with life and joy, with controls that speak to you in ways that most other cars and their brands have long ago forgotten. ItÂ’s far from the spiciest Giulia available, but if anything, IÂ’d say the Quadrifoglio overshadowed just how enjoyable the base car is. This was the most time IÂ’ve spent in any Giulia, and whether I was driving my son to school, making the L.A. freeway trek down to the VW ID. Buzz reveal, or whisking through the Santa Monica Mountain roads, the Lusso made the experience extra special. Here are 9 thoughts on the Alfa Romeo Giulia Lusso. 1. All-star steering The steering is just incredible, one of the main reasons I find the Giulia so desirable. ItÂ’s quick and feelsome with a terrific wheel to grip. LetÂ’s talk about D mode, which is the sportiest of the three “DNA” drive modes (N is normal and A is eco). A subtle amount of extra weighting on turn-in is added, and itÂ’s perfect – utterly spot-on and natural. That weighting then lightens as you keep turning through tighter turns, which means the car isnÂ’t fighting against you and allows you to genuinely feel the road free from excess weighting as you make minute adjustments. Steering in N mode is still relatively firm on center, but that turn-in weighting is just a bit lighter. Still great during most of the times youÂ’re driving, but D mode is so, so, so good. All-star, Top 10 board with various Porsches, Mazdas and the surprisingly great Aston Martin DBX on my scorecard. 2. Hey, I actually noticed the brakes! Sadly, the Giulia is not available with a manual transmission. Like a giant tease, though, the brake pedal is closer in size and shape to one from a three-pedal car. Pedal aside, wow are the brakes it's attached to ever good. Wear thin shoes and youÂ’re able to delicately brush the pedal, feeling the calipers brush the rotors in kind. So beautifully modulated. I could see someone finding them a little too responsive resulting in jerking stops, but either stop wearing work boots, try harder or buy a Lexus ES. I donÂ’t usually notice brakes unless theyÂ’re especially good or especially bad/weird. These fall in the former category, and whatÂ’s even more impressive, is that theyÂ’re brake-by-wire.

Alfa Romeo Tonale drops the non-hybrid 2.0-liter for the U.S.

Until last week, we were expecting the Alfa Romeo Tonale to be sold with two powertrains here. When the compact crossover greeted the world for the first time in February, Alfa Romeo told us our market could expect a 2.0-liter turbocharged four-cylinder as the base option, putting out 256 horsepower through a nine-speed automatic to all four wheels. The premium choice would be a plug-in hybrid powertrain that paired a 177-hp, 1.3-liter four-cylinder turning the front axle with a 121-hp electric motor working the rear axle for a combined 275 hp. The PHEV would also be capable of 30 miles of pure-electric motoring in the U.S. Alfa Romeo boss Jean-Philippe Imparato told Automotive News Europe during the media drive that the non-hybrid 2.0-liter is no longer an option for the U.S. because Alfa Romeo needs to go especially aggressive on reducing emissions here. In Europe, the Tonale can be ordered with both powertrains as well as a diesel. Here, the California Air Resources Board (CARB) recently proposed a new set of regulations that lay out tougher benchmarks for an automaker's CO2 emissions. If the regulations pass, 35% of an automaker's sales in the state will need to be zero-emissions vehicles (ZEV) by 2026 and 100% by 2035. California, by itself, is on the cusp of passing Germany as the world's fourth-largest economy, according to Bloomberg. Furthermore, 13 states and the District of Columbia adhere to CARB emissions rules, nine of those follow California's ZEV program, and three more states will join the ZEV regulations over the next three years. Alfa Romeo sold just over 18,000 cars here last year, and it needs plenty of Tonales to offset all those Stelvios. Across the Atlantic, the Euro 7 emissions giving carmakers public fits are slated to come into force on July 1, 2025. For these reasons as well as Alfa Romeo's commitment to going all-electric this decade, Imperato told ANE the PHEV is "an existential need" in the lineup. An Alfa Romeo spokesperson in the U.S. elaborated to Car and Driver, "As a premium brand, the PHEV better aligns with what our customers want in this segment as it provides an elevated experience, greater performance, and more than 30 miles of electric range." The subtext here is that the Tonale's corporate twin, the Dodge Hornet, will offer both powertrains when it goes on sale next year.