2022 Chrysler Pacifica Limited on 2040-cars

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Stellantis lays off salaried workers, cites uncertainty in EV transition

DETROIT — Jeep maker Stellantis is laying off about 400 white-collar workers in the U.S. as it deals with the transition from combustion engines to electric vehicles. The company formed in the 2021 merger between PSA Peugeot and Fiat Chrysler said the workers are mainly in engineering, technology and software at the headquarters and technical center in Auburn Hills, Michigan, north of Detroit. Affected workers were notified starting Friday morning. “As the auto industry continues to face unprecedented uncertainties and heightened competitive pressures around the world, Stellantis continues to make the appropriate structural decisions across the enterprise to improve efficiency and optimize our cost structure,” the company said in a prepared statement Friday. The cuts, effective March 31, amount to about 2% of Stellantis' U.S. workforce in engineering, technology and software, the statement said. Workers will get a separation package and transition help, the company said. “While we understand this is difficult news, these actions will better align resources while preserving the critical skills needed to protect our competitive advantage as we remain laser focused on implementing our EV product offensive,” the statement said. CEO Carlos Tavares repeatedly has said that electric vehicles cost 40% more to make than those that run on gasoline, and that the company will have to cut costs to make EVs affordable for the middle class. He has said the company is continually looking for ways to be more efficient. U.S. electric vehicle sales grew 47% last year to a record 1.19 million as EV market share rose from 5.8% in 2022 to 7.6%. But sales growth slowed toward the end of the year. In December, they rose 34%. Stellantis plans to launch 18 new electric vehicles this year, eight of those in North America, increasing its global EV offerings by 60%. But Tavares told reporters during earnings calls last month that “the job is not done” until prices on electric vehicles come down to the level of combustion engines — something that Chinese manufacturers are already able to achieve through lower labor costs. “The Chinese offensive is possibly the biggest risk that companies like Tesla and ourselves are facing right now,Â’Â’ Tavares told reporters. “We have to work very, very hard to make sure that we bring out consumers better offerings than the Chinese.

Fiat Chrysler completes sale of Magneti Marelli

Fiat Chrysler Automobiles completed its sale of components maker Magneti Marelli to CK Holdings Co., Ltd., the holding company of Calsonic Kansei Corporation. The Japanese parts supplier paid $6.5 billion (5.8 billion euros), which is a bit less than the $7.1 billion deal that was initially announced in October of 2018. According to Reuters, the price was adjusted based on Magneti Marelli's estimated financial position as of the closing date. The influx of cash allowed FCA to offer a special cash distribution to its shareholders for the first time in a decade. At ˆ1.30 per share, the payout corresponds to a total distribution of approximately ˆ2 billion. The dividend will pay out on May 30. "FCA remains committed to Magneti Marelli, with the new company continuing as a key supplier," FCA CEO Mike Manley said in a statement. "This sale also recognizes the full strategic value of Magneti Marelli, improving our financial position, delivering value to our shareholders and allowing us to enhance our focus on our core product portfolio." Earnings/Financials Chrysler Fiat magneti marelli

2024 Chrysler Pacifica Review: Plug-In Hybrid is still the one to get

Pros: Unique plug-in hybrid; versatile Stow ‘n Go seats; great entertainment features; good looks Cons: No cheaper base trim; top trims and Hybrid are really expensive; less-comfy second-row Stow ‘n Go seats Wow, does time fly by. The 2024 Chrysler Pacifica represents the eighth(!) model year since ChryslerÂ’s iconic minivan lineup was reborn under a single newish name with handsome styling, state-of-the-art features and a plug-in hybrid powertrain that provided unrivaled fuel economy for a three-row family vehicle. Turns out Chrysler did a pretty bang-up job all those years ago, because for 2024, the Pacifica remains a fully competitive and appealing minivan that doesnÂ’t seem long in the tooth. True, the revolutionary Pacifica Plug-In Hybrid makes a more compelling case for itself since no competitor matches it. Even the excellent, hybrid-only Toyota Sienna doesnÂ’t offer the all-electric range of the Plug-In Pacifica. The superior fuel economy offered by both, however, is the key reason why they are our top minivan choices. We ultimately give the nod to the Toyota due to interior versatility and the Plug-InÂ’s hefty price increase last year (2024 pricing was not available at the time of this writing, but since when do cars get less expensive year to year?). As for the standard, V6-only Pacifica, it still stands out from the pack with its user-friendly technology (for those up front and in back), attractive interior style, well-mannered driving dynamics, and unique Stow ‘n Go second-row seats you canÂ’t get in the hybrid. ThereÂ’s a lot to like, but then the same can be said of the Sienna, Kia Carnival and Honda Odyssey. The Pacifica may not be long in the tooth, but its competition has caught up or surpassed it in some respects, so cross-shopping is a must. Interior & Technology   |   Passenger & Cargo Space   |   Performance & Fuel Economy What it's like to drive   |   Pricing & Trim Levels   |   Crash Ratings & Safety Features What's new for 2024? The Pacifica Hybrid has been officially renamed the Pacifica Plug-In Hybrid, but itÂ’s always been a plug-in hybrid, so thereÂ’s nothing functionally new about it. Its trim levels do get reduced by one, with a new Select trim level joining the carry-over Pinnacle. Speaking of that trim level, it gets a new exclusive “Sepia” interior color, with quilted leather seats accented with “Light Diesel stitching and Sydney Gray piping.” Fancy.