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Stellantis won't race to split electric vehicles from fossil fuel cars

MILAN - Stellantis is not considering splitting its electric vehicle (EV) business from its legacy combustion engine operation, its finance chief said on Thursday, as the carmaker presented above-expectation revenue data for the first quarter. Chief Financial Officer Richard Palmer told analysts he did not see huge benefits in the kind of separations pursued by rivals such as France's Renault and U.S. Ford. "We need to manage the company and the assets we have through this transition," he said. "There are benefits to having the cash flow being generated by the internal combustion business for the investments we need to make." Palmer said the group, formed by a merger last year of Fiat Chrysler and Peugeot maker PSA, was not averse to considering adjusting its structure "but we aren't anticipating any big changes." Palmer's comments came after the world's fourth largest carmaker said its net revenue rose 12% to 41.5 billion euros ($44.1 billion) in the January-March period, as strong pricing and the type of vehicles sold helped offset the impact of the semiconductor shortage on volumes. That topped analyst expectations of 36.9 billion euros, according to a Reuters poll. Milan-listed shares were up 0.5% by 1415 GMT, in line with Italy's blue-chip index. The impact of the chip crunch was evident in the decline in shipment figures which fell 12% in the quarter to 1.374 million vehicles. It was a similar story for Germany's BMW which posted higher revenues on Thursday and a decline in car sales. Riding the Recovery Stellantis, whose brands also include Citroen, Jeep and Maserati, confirmed its 2022 forecasts for a double-digit adjusted operating income margin, after 11.8% last year, and a positive cash-flow despite supply and inflationary headwinds. Morgan Stanley analysts said after the results that Stellantis had better management than many peers and benefited from its significant exposure to a stronger U.S. economy and a European recovery from the COVID-19 pandemic. They also said it was less affected by a slowing Chinese economy. Palmer said it was important for the group to maintain double-digit margins and keep delivering positive cash flows. "A 12% increase in revenue with a 12% decrease in volumes indicates a very strong performance on price and mix, which augurs well for our margin performance," he said. He said semiconductor supply problems were expected to ease this year with continued improvements in 2023.

FCA's puzzling trademark spree includes Apache and Orange Peelz

Here's one for the Mystery Machine. As noted by the WagoneerFans forum and picked up by Motor1, Fiat Chrysler recently went on a one-day trademark application spree at the U.S. Patent and Trademark Office. On March 6, the automaker applied for the names Apache, Farout, Orange Peelz, Shocker, Tomahawk, and Top Dog. All have been requested for "Land vehicles, namely, passenger automobiles," and the best guess so far has them being applied to concepts during next month's Easter Jeep Safari, which, assuming it goes ahead, will happen April 4-20. As for historical ties, one name has a connection to Dodge, another was a codename for a Dodge engine, and one was used on a previous Easter Jeep Safari concept. Tomahawk rings the loudest bell, that name applied to the four-wheeled, Viper-engined concept motorcycle that Dodge rolled out at the 2003 Detroit Auto Show. The company supposedly sold nine examples of the "rolling sculpture" through Neiman Marcus over a four-year period. It doesn't appear FCA has used the name since, internally or otherwise. There is, however, a Cherokee tomahawk — not referring to a Jeep, but the light, short-handled ax used by the Native American Cherokee tribe. This one seems made for Safari use. Apache has a Dodge and a Jeep tie-in. At one time, Apache was the codename for the 6.4-liter Hemi V8 marketed as the 392 V8 on the Charger and Challenger R/T Scat Pack trims. That engine makes 485 horsepower and 475 pound-feet of torque. But Jeep showed a Wrangler Apache concept (pictured) at the 2012 Easter Jeep Safari, built with a Mopar conversion kit for a 6.4-liter Hemi making 470 hp and 470 lb-ft. Mopar sold the V8 swap kits at least through 2016, but they appear to have fallen off the Mopar menu. At one time there were rumors of a supercharged Apache with more than 600 horsepower, and wouldn't that be a welcome surprise in Moab. The Farout could be a more or less extreme overlanding take on last year's Easter Jeep Safari Wayout concept, depending on whether one considers "way" or "far" more radical. The Shocker, Jeep might be disappointed to discover, already has an outside link in the Jeep Shocker stickers made for Wichita State fans who love America's 4x4. As for Orange Peelz, it's pretty close to Pedro's bicycling degreaser called Oranj Peelz, but a Jeep conception could be anything. Except maybe a paint color. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Detroit automakers keep their masks on to keep the factories running

United Auto Workers members leave the Fiat Chrysler Automobiles Warren Truck Plant in May. Fiat Chrysler along with rivals Ford and General Motors Co., restarted the assembly lines after several weeks of coronavirus lockdown. (AP)   DETROIT — When the coronavirus pandemic slammed the United States in March, the Detroit Three automakers shut their plants and brought their North American vehicle production to an unprecedented cold stop. Now, four months after a slow and sometimes bumpy restart in May, many General Motors, Ford and Fiat Chrysler Automobiles  factories are working at close to full speed, chasing a stronger-than-expected recovery in sales. So far, none of the Detroit Three has had a major COVID-19 outbreak since restarting production, even as the coronavirus is surging in Midwestern and Southern communities outside factory walls. "We have people testing positive, but it's not affecting operations," said Ford global manufacturing chief Gary Johnson. Keeping the pandemic at bay has pushed the automakers and 156,000 U.S. factory employees represented by the United Auto Workers into unfamiliar work routines and extraordinary levels of cooperation among the rival automakers that will have to be sustained for months to come. For automakers, the automakers' COVID response has been as much about instilling new habits as relying on new technology. Workers log their symptoms, or lack of them, into smartphone apps and walk past temperature scanners to get to their work stations. But company and union executives said masks, along with physical distancing, are the key to keeping assembly lines rolling. "The mask is the foundation" of protecting workers on the job, said Johnson. Complaints about masks Autoworkers are accustomed to wearing protective gear such as shatterproof glasses and gloves. Masks that cover the mouth and nose, however, were not standard equipment on auto assembly lines, and were a tough sell at first. "The biggest complaint is wearing a mask," United Auto Workers President Rory Gamble told Reuters. "A lot of our members perform physical tasks. Wearing the mask inhibits breathing." Beyond that, Gamble said, masks and distancing make it harder for workers to have conversations on the job or socialize during breaks. "ThatÂ’s pretty much out the window, and it makes for a longer day," he said. Masks make it harder for co-workers to read each other's expressions — often crucial in the noisy environment of a car plant.