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Stellantis won't race to split electric vehicles from fossil fuel cars

MILAN - Stellantis is not considering splitting its electric vehicle (EV) business from its legacy combustion engine operation, its finance chief said on Thursday, as the carmaker presented above-expectation revenue data for the first quarter. Chief Financial Officer Richard Palmer told analysts he did not see huge benefits in the kind of separations pursued by rivals such as France's Renault and U.S. Ford. "We need to manage the company and the assets we have through this transition," he said. "There are benefits to having the cash flow being generated by the internal combustion business for the investments we need to make." Palmer said the group, formed by a merger last year of Fiat Chrysler and Peugeot maker PSA, was not averse to considering adjusting its structure "but we aren't anticipating any big changes." Palmer's comments came after the world's fourth largest carmaker said its net revenue rose 12% to 41.5 billion euros ($44.1 billion) in the January-March period, as strong pricing and the type of vehicles sold helped offset the impact of the semiconductor shortage on volumes. That topped analyst expectations of 36.9 billion euros, according to a Reuters poll. Milan-listed shares were up 0.5% by 1415 GMT, in line with Italy's blue-chip index. The impact of the chip crunch was evident in the decline in shipment figures which fell 12% in the quarter to 1.374 million vehicles. It was a similar story for Germany's BMW which posted higher revenues on Thursday and a decline in car sales. Riding the Recovery Stellantis, whose brands also include Citroen, Jeep and Maserati, confirmed its 2022 forecasts for a double-digit adjusted operating income margin, after 11.8% last year, and a positive cash-flow despite supply and inflationary headwinds. Morgan Stanley analysts said after the results that Stellantis had better management than many peers and benefited from its significant exposure to a stronger U.S. economy and a European recovery from the COVID-19 pandemic. They also said it was less affected by a slowing Chinese economy. Palmer said it was important for the group to maintain double-digit margins and keep delivering positive cash flows. "A 12% increase in revenue with a 12% decrease in volumes indicates a very strong performance on price and mix, which augurs well for our margin performance," he said. He said semiconductor supply problems were expected to ease this year with continued improvements in 2023.

Dodge Challenger SRT Hellcat ringtone revs up [w/video]

The best (or worst, depending on your views) thing about smartphones is that you're able to carry lots, and lots of useful stuff around in your pocket. That means you can always have a phone, messaging service, email, flashlight, calculator, dictionary, encyclopedia, and literally thousands of other things on your person at all times. Now, we can add one more thing for you to carry about in your little slab of aluminum, glass and plastic - a Dodge Challenger SRT Hellcat.
Now, you obviously can't carry around a 707-horsepower muscle car around in your pocket. That'd be ridiculous, impractical and uncomfortable. You can, however, carry around the noise made by said muscle car's 6.2-liter, supercharged Hemi V8, thanks to a new, free-to-download ringtone from the folks at Dodge and SRT.
We can't embed the ringtone here, so if you'd like to hear exactly how it'll sound when your phone goes off, you'll need to head over to the SRT Hellcat's page. If that's more trouble than it's worth, the same ringtone was attached to a tiny speaker on the press kit for the mighty Challenger, and was captured on video by our own Seyth Miersma (don't worry, he's already been soundly dressed down for shooting a video in portrait mode).

Junkyard Gem: 1990 Dodge Daytona Shelby

Once Lee Iacocca took the helm at Chrysler and shifted nearly all car models to front-wheel-drive platforms — either members of the convoluted K family or descendants of the Simca-derived Omnirizon platform — he called up his pal Carroll Shelby and made a deal to help with the design of some Shelby-ized, turbocharged Dodges. This relationship resulted in the Shelby Charger starting in 1983 and the Omni GLH in 1984. For 1987, the K-based Dodge Shadow and Daytona got the Shelby treatment, and suddenly the roads of North America were awash in Shelby-badged turbocharged machinery. Most are long gone by now, but I managed to unearth this tattered and rusty '90 Shelby Daytona at a Denver yard. The Shelby Daytona stayed in production through the 1991 model year (when the car got both Shelby and IROC badging, and does anybody remember the IROC Daytona today?), but most of the examples I've found during my wrecking-yard explorations have been earlier models. You won't find many '90 or '91 Daytona Shelbys. Some junkyard shopper pulled the cylinder head and all the turbo-related goodness before I reached this car. That makes sense, because the 1990 Daytona Shelby's turbocharged 2.2-liter engine made 174 horsepower— way more than most previous turbo Chryslers. Maybe someone hot-rodded their Plymouth Caravelle with those parts. This car has the five-speed manual transmission, as it should. Note the New Car Scent Little Tree, which is the second-most common junkyard-found air freshener (after Black Ice). It's not hard to identify the main reason this car got discarded: catastrophic (by Colorado standards) body rot. 171,349 miles is pretty decent for a nervous turbocharged car from 30 years ago. I don't see many Colorado junkyard cars with brewery and/or skiing-related stickers that don't also have stickers from cannabis dispensaries, but here's one. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Pretty much just as good as the Porsche 911 Turbo, and $70,000 cheaper! Featured Gallery Junked 1990 Dodge Daytona Shelby View 21 Photos Auto News Dodge Automotive History Coupe Carroll Shelby shelby Junkyard Gems