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Macron and Le Pen decry 'shocking' Stellantis CEO pay

PARIS — French President Emmanuel Macron and his far-right challenger in the French presidential vote, Marine Le Pen, on Friday both decried as “shocking” the multimillion euro payout to the CEO of carmaker Stellantis. Stellantis CEO Carlos TavaresÂ’ remuneration package of 19.15 million euros just a year after the company was formed became an issue as Macron and Le Pen campaigned ahead of the April 24 runoff vote. Polls show purchasing power and inflation are a top voter concern. Stellantis was formed last year through the merger of PSA Peugeot and Fiat Chrysler Automobiles. Centrist President Emmanuel Macron, perceived by many voters as being too pro-business, called the pay package “astronomical” and pushed for a Europe-wide effort to set ceilings on “abusive” executive pay. “ItÂ’s shocking, itÂ’s excessive,” he said Friday on broadcaster France-Info. “People canÂ’t have problems with purchasing power, difficulties, the anguish theyÂ’re living with, and see these sums. Otherwise, society will explode.” Far-right leader Marine Le Pen, who enjoys support from many working-class voters, called for bringing in more workers as shareholders. “Of course itÂ’s shocking, and itÂ’s even more shocking when it is the CEOs who have pushed their society into difficulty,” she said Friday on BFM television. “One of the ways to diminish this pay, which is often out of proportion with economic life, is perhaps to allow workers in as shareholders.” Stellantis continued to back the package despite a 52.1% to 47.9% vote rejecting it at an annual shareholders' meeting chaired from the Netherlands, where the company is legally based, on Wednesday. The company, citing Dutch civil code, noted that the vote is advisory and not binding. The company later said in a statement that it took note of the vote, and will explain in an upcoming 2022 remuneration report “how this vote has been taken into account.” In the 2021 report, the company identified peer group companies that it used as a salary benchmark, including U.S. companies like Boeing, Exxon Mobile, General Electric as well as carmakers Ford and General Motors. Stellantis, whose brands include Peugeot, Fiat, Jeep, Opel and Maserati, reported net profits last year had tripled to 13.4 billion euros ($15.2 billion). The French government is the third-largest shareholder in Stellantis, with a 6.15% stake through the Bpifrance Participations S.A. French public investment bank.

2017 Chrysler Pacifica isn't your parents' Town & Country [w/video]

I'm sick of people hating on minivans. There's something about two incredibly functional sliding doors that give people this idea that they've given up, and given in to family life. But if the van you see here had two fixed rear doors, and maybe an extra inch of ride height, it'd be gobbled up like mad as part of the growing crossover craze. So yes, the 2017 Chrysler Pacifica – that's right, Pacifica – is a minivan. But it's so packed full of features, technology, and functionality, that you really ought to look past those sliding doors. There promises to be an incredibly rewarding vehicle within. The 2017 Pacifica rides on an all-new platform, but dimensionally, it's similar to the outgoing Town & Country. That whole "ugh, minivans" thing is one of the reasons why Chrysler decided to axe the Town & Country name for 2017. Simply put, the target customers for the new minivan (young parents) would have grown up in their parents' Town & Country vans (or Caravans, or Voyagers...) in the 1980s. Three decades later, FCA wants to make it absolutely clear that this isn't just your parents' minivan. Why it chose to bring back the name of a lackluster part of its mid-2000s history, though, is anyone's guess. The 2017 Pacifica rides on an all-new platform, but dimensionally, it's similar to the outgoing Town & Country. It's a tenth of an inch shorter in length, about an inch wider, and roughly half an inch taller. The body itself looks great – influence from the 200 sedan is obvious up front, and around back in the taillights, and top-trim models can be had with 20-inch wheels – a big change from the old van, which topped out with 17-inch rolling stock. There's big weight-savings here, too – the Pacifica tips the scales at 4,330 pounds in base spec, which is over 300 pounds less than the Town & Country. Inside, it's more of the same from Chrysler. The interior design uses language brought up from the 200, and the different color and material choices look really rich, especially in Limited Premium trim. Of course, I'll wait to make final judgments on the cabin until I see it in base cloth spec, rife with kid fingerprints and french fries ground into the carpets. Up front, the Uconnect 8.4-inch touchscreen houses familiar infotainment functionality, and for backseat passengers, there's a new Uconnect Theater system, with a pair of 10-inch touchscreen displays.

Feds sue Fiat Chrysler, accuse it of cheating on diesel emissions

WASHINGTON - The US government has filed a civil lawsuit accusing Fiat Chrysler Automobiles NV of using software to bypass emission controls in diesel vehicles. The Justice Department suit, filed in US district court in Detroit, is a procedural step that may ramp up pressure on Fiat Chrysler. The suit could ultimately help lead to a settlement, as in an earlier probe of rival Volkswagen AG that will cost VW up to $25 billion, but which affected a much larger number of vehicles. VW admitted to intentionally cheating while Fiat Chrysler denies wrongdoing. It did not immediately comment on Tuesday. US-listed Fiat Chrysler shares were down 2.9 percent at $10.44. The suit also names Fiat Chrysler's unit V.M. Motori SpA, which designed the engine in question. Reuters reported last week the Justice Department and EPA have obtained internal emails and other documents written in Italian that look at engine development and emissions issues that raise significant questions. The investigation has scrutinized VM Motori. FCA acquired a 50 percent stake in VM Motori in 2010 and the remainder in October 2013. The lawsuit asserts the Italian-American automaker placed undeclared "defeat devices," or auxiliary emissions controls, in 2014-2016 Fiat Chrysler diesel vehicles that led to "much higher" than allowable levels of nitrogen oxide, or NOx pollution, which is linked to smog formation and respiratory problems. The suit seeks injunctive relief and unspecified civil penalties. EPA said in January the maximum fine is about $4.6 billion. In January, EPA and California accused Fiat Chrysler of illegally using undisclosed software to allow excess diesel emissions in 104,000 U.S. 2014-2016 Jeep Grand Cherokees and Dodge Ram 1500 trucks. Fiat Chrysler said on Friday it plans to update software that it expects will resolve the concerns of U.S. regulators about excess emissions in those vehicles. The January notice was the result of regulators' investigation of rival Volkswagen, which prompted the government to review emissions from all other passenger diesel vehicles. Volkswagen admitted in September 2015 to installing secret software allowing its cars to emit up to 40 times legal pollution levels. In total, VW has agreed to spend up to $25 billion in the United States to address claims from owners, environmental regulators, states and dealers and offered to buy back about 500,000 polluting US vehicles.