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Junkyard Gem: 1986 Chrysler Fifth Avenue

Chrysler started putting the New Yorker name on its top-end luxury dreadnaughts all the way back in the early 1940s. When it came time to pitch an even more exclusive New Yorker, what street did Chrysler choose for its name in 1979? Exactly. The Fifth Avenues started out as Plymouth Gran Fury siblings, then switched to the smaller M-Body Dodge Diplomat platform for the 1982-1989 model years. Here's a padded-landau-roof-equipped '86 Fifth Avenue, spotted in a San Francisco Bay Area self-service wrecking yard. Though the Fifth Avenue started life as a option package for the New Yorker, Chrysler ditched the New Yorker badging on these cars after the 1983 model year (while applying it, confusingly, to the Chrysler-badged front-wheel-drive E-Body). Perhaps this was due to certain Chrysler-demographic-terrifying developments in New York-based popular culture around that time. 1970s styling touches were still going strong in mid-1980s Detroit, and this car has lots of fake wood and button-tufted vinyl inside, with this stainless-trimmed padded landau roof outside. Mechanically speaking, it's a Dodge Diplomat, complete with 140-horsepower 318-cubic-inch (5.2 liter) V8, rear-wheel-drive, and three-speed automatic transmission. The Diplomat was a sturdy and reliable machine, but the $14,910 Fifth Avenue sticker price was a lot to pay for a Diplomat with some extra gingerbread, especially when the Diplomat listed at $10,086. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The Diplomat was a very popular choice for American law-enforcement duties during the 1980s, and the chase scene from Short Time shows a slightly exaggerated depiction of its tough construction. It's a shame that the filmmakers couldn't find a way to use a Fifth Avenue instead. For 1990, the Fifth Avenue name went onto a stretched version of the front-wheel-drive K Platform, then disappeared after 1993. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. "I enjoy making money... and spending it. But not foolishly." Related Video:

Stellantis expects to hit emissions target without Tesla's help

Franco-Italian carmaker Stellantis expects to achieve its European carbon dioxide (CO2) emissions targets this year without environmental credits bought from Tesla, its CEO said in an interview published on Tuesday. Stellantis was formed through the merger of France's PSA and Italy's FCA, which spent about 2 billion euros ($2.40 billion) to buy European and U.S. CO2 credits from electric vehicle maker Tesla over the 2019-2021 period. "With the electrical technology that PSA brought to Stellantis, we will autonomously meet carbon dioxide emission regulations as early as this year," Stellantis boss Carlos Tavares said in the interview with French weekly Le Point. "Thus, we will not need to call on European CO2 credits and FCA will no longer have to pool with Tesla or anyone." California-based Tesla earns credits for exceeding emissions and fuel economy standards and sells them to other automakers that fall short. European regulations require all car manufacturers to reduce CO2 emissions for private vehicles to an average of 95 grams per kilometer this year. A Stellantis spokesman said the company is in discussions with Tesla about the financial implications of the decision to stop the pooling agreement. "As a result of the combination of Groupe PSA and FCA, Stellantis will be in a position to achieve CO2 targets in Europe for 2021 without open passenger car pooling arrangements with other automakers," he added. Tesla's sales of environmental credits to rival automakers helped it to announce slightly better than expected first-quarter revenue this week. The next tightening of European regulations will soon be the subject of proposals from the European Commission. The 2030 target could be lowered to less than 43 grams/km. Related Video: Government/Legal Green Alfa Romeo Chrysler Dodge Fiat Jeep Maserati RAM Tesla Citroen Peugeot Emissions Stellantis

Fiat Chrysler agrees to new $3.8 billion credit facility with banks

MILAN — Fiat Chrysler said on Thursday it has agreed a new credit facility with two banks, at a time when major carmakers are having to shut down plants, losing revenue as demand slumps in the wake of the coronavirus. Most of FCA's plants around the world are currently shut in response to the virus emergency. Italian investment firm Exor, which controls FCA, said on Wednesday that the temporary closures might continue and increase depending on how the coronavirus outbreak develops. FCA said the credit facility would be available "for general corporate purposes and for working capital needs" of the group and that it was structured as a "bridge facility" to support its access to capital markets. "This transaction confirms the continued strong support of FCA's international key relationship banks in the current extraordinary circumstances," the automaker said in a statement, without making any explicit link between the new facility and the impact the virus is having on the global economy. The facility can be drawn in a single tranche of 3.5 billion euros ($3.8 billion), with an initial 12-month term which can be extended for further six months. It adds to existing credit facilities worth 7.7 billion euros, including lines for 1.5 billion euros that the company has started to draw down, FCA said. FCA is in merger talks with Peugeot owner PSA to create the world's fourth biggest carmaker. The deal is expected to be finalized by the first quarter of next year. Equita's analyst Martino De Ambroggi said that, based on his new assumption of a 10% drop of global auto market this year, the crisis triggered by the coronavirus would impact the merged automaker's free cash flow by over 5 billion euros. Earlier this week, General Motors announced it will draw about $16 billion from its credit lines in a bid to beef up liquidity amid rising business impact from the fast-spreading coronavirus outbreak. And last week, rival Ford abandoned its 2020 forecast and said it was drawing down $15.4 billion from two credit facilities to bolster its balance sheet. Related Video: