1970 Dodge Coronet 500 Twin Turbo 383 One Of A Kind! Full Frame Off Restoration on 2040-cars

Auto blog

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

Auto Mergers and Acquisitions: Suicide or salvation?

We love the Moses figure. A savior riding in from stage right with the ideas, the smarts, and the scrappiness to put things right. Alan Mullaly. Carroll Shelby. Lee Iacocca. Andrew Carnegie. Steve Jobs. Elon Musk. Bart Simpson. Sergio Marchionne does not likely view himself with Moses-like optics, but the CEO of Fiat Chrysler Automobiles recently gave a remarkable, perhaps prophetic interview with Automotive News about his interest and the inevitability of merging with a potential automotive partner like General Motors. Marchionne has been overtly public about his notion that GM must merge with FCA. For a bit of context, GM sold 9.9 million vehicles in 2014, posting $2.8 billion in net income, while FCA sold 4.75 million units and earned $2.4 billion in net income, painting a very rosy FCA earnings-to-sales picture. But that's not the entire picture. Most people in the auto industry still remember the trainwreck that was the DaimlerChrysler "merger" written in what turned out to be sand in 1998. It proved to be a master class in how not to fuse two companies, two cultures, two continents, and two management teams. Oh, it worked for the two individuals at both helms pre-merger. They got silly rich. And the industry itself was in a misty romance at the time with mergers and acquisitions. BMW bought Rolls-Royce. Volkswagen Group bought Bentley, Bugatti, and Lamborghini, putting all three brands into their rightful place in both products and positioning. No marriages there, so no false pretense. Finally, Nissan and Renault got married in 1999. A successful marriage requires several rare elements in this atmosphere of gas fumes and power lust. But a successful marriage requires several rare elements in this atmosphere of gas fumes and power lust, the principle part being honesty. Daimler and Chrysler lied to each other. The heads of each unit, the product planners, and finance all presented their then-current and long-range forecasts to each other with less-than-forthright accuracy. Daimler was the far greater equal and no one from the Chrysler side enjoyed that. The cultures were entirely different, too, and little was done to bridge that gap. Which brings me back to the present overtures by Marchionne to GM. "There are varying degrees of hugs," Marchionne stated in the Automotive News piece. "I can hug you nicely, I can hug you tightly, I can hug you like a bear, I can really hug you." Seriously?

Here are the Challenger SRT Demon's bare-minimum performance numbers

This week's Dodge Challenger SRT Demon teaser video provides what seems like more concrete evidence than any of the others before it. We say it seems that way because the numbers flashed on the screen are likely not showing us everything the car has to offer. So we're looking at these as the minimum performance stats and expecting Dodge to reveal even crazier numbers alongside the car next month. The video also provides some hints at features and modes the car will offer. Let's pick it apart. First off, there's the performance data from the various SRT Performance Pages screens. The 0–60 mph time is 3.0 seconds, which compares well to the "regular" Hellcat's 3.5-second manufacturer claim. Then there are two 0–100 times: 6.08 and 6.8. An eighth-mile time of 6.6 seconds at 125 mph and a quarter-mile time of 0.5 seconds at 129 mph lead us to believe the driver lifted off the throttle in that second eighth-mile and that the car will actually do the quarter in the low 10s. For reference, Dodge claims an 11.2-second quarter for the Hellcat on its street tires and a 10.8 with race slicks. View 7 Photos We also get a cryptic message about the supercharger boost pressure, which suggests it will be higher than the 11.6 psi of the 6.2-liter Hellcat engine. A graph shows it heading up toward 10 psi but the final spike is obscured by a Demon head. Cute. There's a hint at horsepower and torque numbers in a graph on the Dyno page, which shows both peaking around 750. In every shot of this video, the clock is set to 7:57, which we think means it either has that much power or, well, more. We think there's more to it because it appears that part of the graph above the dyno run shown, which would reach to 800 or 850, has been blanked out. A horsepower total of 808 would be a nice complement to the Hellcat's 707, don't you think? We can see from the shift indicator screen that the car will come with or at least offer the eight-speed automatic that's also available in the Hellcat and other Challengers. That's likely to be the best option for drag racing. The Demon's user-defined shift light feature, which lets you choose an optimal shift rpm for each individual gear, also suggests that a six-speed manual will be available. We'll cover the many modes and settings highlighted in this video in a separate post. There's a lot to discuss. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.