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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.

Which of these five plug-ins should win the 2017 Green Car of the Year?

It's going to be a competitive race for the 2017 Green Car Of The Year. With a minivan in the running for the first time in ages, the five finalists announced by Green Car Journal today include five very different plug-in vehicles. As Ron Cogan, the editor and publisher of Green Car Journal, said in a statement, "electrification is now considered by most automakers an essential technology for current and future high-efficiency models." Let's check out the list: Toyota Prius Prime, the updated plug-in version of the world's best-selling hybrid. Chevy Bolt, GM's all-new entry into the long-range EV game. Chrysler Pacifica, a family hauler with the ability to go 30 miles on electric power. Kia Optima. The nomination is for the full line-up, but really the hybrid and plug-in hybrid models are the green stars here. BMW 330e iPerformance, one of the automaker's many new plug-in hybrids that bring battery power to models outside the i sub-brand. Green Car Journal will announce the winners at the Los Angeles Auto Show on November 17th, along with some, "other green transportation announcements," whatever that means. Last year, the winner was the 2016 Chevy Volt, the first model to snatch up two wins. Which do you think should win this year? Related Video: News Source: Green Car JournalImage Credit: REUTERS/Kevork Djansezian Green LA Auto Show BMW Chevrolet Chrysler Kia Toyota Chevy Bolt chrysler pacifica green car of the year toyota prius prime bmw 330e

MotorWeek reviews '83 American Motors lineup

The 30th anniversary of American Motors' 1987 sale to Chrysler by Renault is just a few years away. AMC is long dead, but for its latest peek in the archives, MotorWeek winds back the clock to somewhat happier times. Take a look at the entire AMC lineup from 1983, including its models from Jeep and Renault. The Jeeps, and to a lesser extent, the AMC Eagle, enjoy a cult following today, but it's amazing how many of these other vehicles are now practically forgotten. Even the big debut in '83 of the Renault Alliance is largely ignored. Although with a ludicrous amount of body roll and a 55-horsepower 1.4-liter engine, it's probably rightly buried. Related Video: News Source: MotorWeek via YouTube Design/Style Chrysler Jeep Renault Classics Videos amc