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Stellantis sees vehicle loan durations extended amid banking turmoil

Stellantis is seeing clients seeking longer-term financing and leasing deals for their vehicles as a consequence of higher global interest rates, the carmaker's head for the business said. Chief Affiliates Officer Philippe de Rovira said loans which normally had a three-year maturity were now increasingly moved to four years. "This allows customers to get a car for a monthly instalment that is similar to that they had before," he said. The world's third largest carmaker by sales on Tuesday announced it had completed a plan announced in late 2021 to reshuffle and simplify its leasing and financing operations in Europe. Under its terms, Stellantis created a 50-50 single long term multi-brand leasing company named Leasys with Credit Agricole Consumer Finance. It also set up local joint ventures in European countries for its new Stellantis Financial Services unit, formerly Banque PSA Finance, with BNP Paribas Personal Finance and Santander Consumer Finance. "These banks have always had better funding conditions than those we can have as an automaker," de Rovira said. Benefits of the plan included cutting the number of financing and leasing entities the group runs in each country and the number of IT systems it uses, with expected savings exceeding 30% in this particular area, he added. De Rovira said the group had a huge portfolio of orders it had not yet delivered due to supply chain shortages impacting production. "Demand is not our main issue. The issue is to deliver as fast as we can cars that are in our order portfolio, which is still at record levels," he said. The group aims to expand its corporate leased vehicle fleet to more than one million units in 2026 and to double net income from its so-called banking activities to 5.8 billion euros ($6.3 billion) by 2030. De Rovira said Stellantis was not seeing a downward trend in vehicle pricing. "Probably the significant price increases we have seen in 2021 and 2022 will not be repeated because the context is changing, but for the moment we don't see decreases, we see stabilisation". ($1 = 0.9188 euros) (Reporting by Giulio Piovaccari and Gilles Guillaume; Editing by Jan Harvey) Earnings/Financials Plants/Manufacturing Alfa Romeo Chrysler Dodge Jeep RAM

2019 Dodge Challenger Review and Buying Guide | Cause we still review awesome cars, too

The Dodge Challenger has now been kicking around without a complete redesign for a decade, yet it actually seems to be getting more popular in its old age. Credit a substantial overhaul a few years ago, constant tinkering, and a yearly roll out of exciting new variants. For the 2019 Dodge Challenger, we welcome the 797-horsepower Hellcat Redeye and R/T Scat Pack Widebody. However, there's an inherent honesty and unique goodness to the Challenger that allows it to still duke it out with the Ford Mustang and Chevy Camaro – despite those age-old rivals' transformation into something more akin to a sports car. The Challenger, by contrast, is 100% muscle car more concerned with straight-line performance than handling precision. It's also much bigger and practical, lending itself better to daily driver duty. That, plus its distinctive style and diverse model lineup, make it easy to see why the Challenger continues to enjoy such massive success. You can certainly count us among its fans. What's new for 2019? We say goodbye to the SRT 392 and Demon, but hello to the 797-horsepower Hellcat Redeye and R/T Scat Pack Widebody. The regular Hellcat gets a 10-hp bump as well as a new "dual snorkel" hood. Further down the Challenger pecking order, you can now get all-wheel drive on the base SXT. What's the interior and in-car technology like? The Challenger's interior certainly isn't as characterful and flamboyant as its exterior would suggest. The Mustang and Camaro are more interesting and distinctive inside. Still, there are some interesting design flourishes that spruce things up, from the base trim's standard houndstooth cloth to the two-tone leather choices available as options. Besides, we're not sure how flamboyant you need the interior to be in a car available in electric orange, blue, green and purple paint colors. Furthermore, what the Challenger interior may lack in visual pizzazz, it makes up for with space (see below) and technology. A 7-inch touchscreen is standard, but all trim levels have an 8.4-inch version available as an option or standard. Both are among the easiest to use in the industry, and we prefer the 8.4-inch unit in particular to what's offered by the Camaro and Mustang. Heck, the Ford doesn't even come standard with a touchscreen, let alone the Apple CarPlay and Android Auto that are included on every Challenger. How big is it? For a performance coupe, the Challenger is enormous.

Last call for Chrysler 300C, Dodge Charger, Challenger: Get your orders in by July 31

We’ve known for a while that the Dodge Challenger and Charger, along with the Chrysler 300C, were going away, and we now have a production end date for the long-running trio of big cars. Earlier this week, we learned that the order books for all three will close at the end of July, ahead of closing production at the end of the year. The 300C has been around since the 2005 model year and has been on sale relatively unchanged since 2011. Chrysler has updated the powertrain choices and technology over the years, but the car we see on sale today is nearly identical to the car we first saw when President George W. Bush was in office. Though it shares a platform and some underlying engineering with the Dodge Charger and Challenger, Chrysler hasnÂ’t gone to the lengths that Dodge did to give the 300C a proper sendoff. Dodge pulled out all the stops with its large cars, offering a series of “Last Call” models highlighting the carsÂ’ power and history. That said, Chrysler did release a limited-production 300C for 2023 that offers a 6.4-liter Hemi V8. ItÂ’s held to 2,000 units and doesnÂ’t have the swagger that DodgeÂ’s cars bring, but there are a few reasons to be excited about the final 300C. With 485 horsepower and 475 pounds of torque on tap, the car can reach 60 from a standstill in 4.3 seconds and run the quarter mile in 12.4 seconds. Those are serious numbers for any car, let alone one that feels like a Barcalounger on wheels. Other upgrades for the final 300C include a 3.09 limited-slip differential, an active exhaust system, and active suspension. If the 300C speaks to you in a way that other rolling sofas donÂ’t, itÂ’s likely too late to grab a limited-production car, but Chrysler is offering the standard 300 — for now.