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Stellantis moves to set up its own lending unit

Stellantis is buying Houston-based auto lender First Investors Financial Services Group to set up its own finance arm in the U.S., a move that should support sales and eventually boost profit. The only major traditional automaker in the U.S. without its own finance company agreed to pay $285 million to a group of investors led by Gallatin Point Capital and Jacobs Asset Management, according to a statement. The transaction is expected to close by year-end. Stellantis was formed via the merger between Fiat Chrysler and PSA Group early this year. Carlos Tavares, the PSA boss who became the combined company’s chief executive officer, called the deal to acquire First Investors a milestone that will increase earnings and enhance customer loyalty. “Direct ownership of a finance company in the U.S. is a white-space opportunity which will allow Stellantis to provide our customers and dealers a complete range of financing options,” Tavares said Wednesday in the statement.  Having an in-house finance company has helped rivals General Motors Co. and Ford Motor Co. pad profits, especially during the global semiconductor shortage that has limited production and crimped sales. GM bought subprime lender AmeriCredit Corp. in 2010 and renamed it GM Financial. The operation generated a $2.76 billion profit in the first half -- roughly a third of the companyÂ’s adjusted earnings before interest and taxes. Trouble for Santander? The First Investors acquisition could spell trouble for Chrysler Capital, the operation that Santander Consumer USA Holdings Inc. and Chrysler set up in 2013 before the U.S. automaker completed its merger with Fiat. In a statement, Santander Consumer said itÂ’s committed to supporting Stellantis through the term of their existing agreement and its transition. Santander Consumer will also have “ongoing conversations with Stellantis about long-term mutually beneficial opportunities beyond 2023,” the company said, adding that its consumer business remains strong and has “delivered solid results for our shareholders.” This, along with support from its parent company, will allow the lender to “pursue additional opportunities as they arise.” The lenderÂ’s U.S.-listed stock fell 1.5% in New York trading Wednesday after Bloomberg reported Stellantis was preparing to announce a new finance partner. Stellantis shares rose as much as 1.3% in Paris trading Thursday.

New Viper 'is a possibility,' Sergio Marchionne says

It was thought the door to the future for the Dodge Viper had closed last year, but Fiat Chrysler CEO Sergio Marchionne reopened it during his press conference at the 2016 Detroit Auto Show. Marchionne said the current Viper is the only FCA product to use the ZD platform, which "doesn't make sense to me." Yet, "given the architectural development within the brand, there is a possibility that a new version of the Viper may surface." Automobile reports that the company uses a versatile, rear- and all-wheel drive Giorgio platform for Alfa Romeo and Dodge. It will support the Alfa Romeo Giulia (Alfa Romeo's larger BMW 5 Series competitor), the next-generation Dodge Challenger, Charger, and rumored Barracuda, and it could support a new generation of Viper. We're probably talking about a different kind of Viper, though, with Automobile saying, "the current car's truck-based V-10 no doubt would be scrapped along with its platform." A Viper without a V10 doesn't seem like a Viper to us, but we'll wait to see what happens. In the midst of contract negotiations for a new labor agreement between FCA and the United Auto Workers last year, it emerged that the Conner Avenue Assembly plant that builds the Viper hadn't been given any new product after the end of Viper build-out in 2017. That led most to reason that the current Viper would be the end of the 25-year run of America's hairiest sports car. How long we'll be waiting is unknown. Marchionne had no timetable and admitted that a future Viper might not appear on the heels of the current one. With a renewed commitment to being debt-free by 2018, FCA is likely more focused on getting Alfa Romeo running properly and cranking out the volume variants for the Giorgio platform first. Related Video: Featured Gallery 2014 SRT Viper GTS: Review View 36 Photos News Source: Automobile via World Car FansImage Credit: Copyright 2015 Drew Phillips / AOL Detroit Auto Show Dodge Coupe Performance Sergio Marchionne FCA conner avenue assembly plant

Cold start comparison: 2020 Alfa Romeo Giulia Quadrifoglio vs. 2013 Dodge Challenger SRT8

The 2020 Alfa Romeo Giulia Quadrifoglio is a five-seat, compact luxury sport sedan packing 505 horsepower thanks to a 2.9-liter twin-turbocharged V6. My personal 2013 Dodge Challenger SRT8 392 is ... well ... not. It's a full-sized muscle coupe whose iron-block 6.4-liter V8 makes 470 hp in the very traditional way: it's freakin' huge, like everything else about the car.  On paper, these two have nothing in common beyond the fact that they were built by the same multi-national manufacturing entity.  But if paper were the be-all and end-all of automotive rankings, everybody would buy the same car. And we don't, especially as enthusiasts. Whether it's looks or tuning or vague "intangibles" or something as simple as the way a car sounds, we often put a priority on the things that trigger our emotions rather than setting out to simply buy whatever the "best" car is at that particular moment.  So, what do these two have in common? They both sound really, really good. Like looks, sounds are subjective. While a rubric most assuredly exists in the world of marketing (attraction is as much a science as any other human response), we have no way of objectively scoring the beauty of either of these cars, and the same applies to the qualities of the sound waves being emitted through their tail pipes.  But we can measure how loud they are. In fact, there's even an app for that. Dozens, as it turns out. So, I picked one at random that recorded peak loudness levels, and set off to conduct an entirely pointless and only vaguely scientific experiment with the two cars that happened to be in my garage at the same time.  For the test, I opened up a window and cracked the garage door (so as not to inflict carbon monoxide poisoning upon myself in the name of discovery), and then placed my phone on a tripod behind the center of each car's trunk lid. I fired each one up and let the app do the rest. I then placed my GoPro on top of the trunk for each test so that I could review the video afterward for any anomalies.  I started with the Challenger. The 6.4-liter Hemi under the hood of this big coupe is essentially the same lump found under the hood of quite a few Ram pickups, and it has the accessories to prove it. Its starter is loud and distinctive. Almost as loud, it turns out, as the exhaust itself. As its loud pew-pew faded behind the V8's barking cold start, we recorded a peak of 83.7 decibels. In the app's judgment, that's roughly the equivalent of a busy street.