1996 Dodge Ram 2500 - Rare!! Low Mileage 12v Cummins Diesel 77k on 2040-cars

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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.

Ram, Jeep redesigns on hold, Alfa Romeo models may come sooner

Last summer, FCA outlined an ambitious five-year plan that sketched out the company's product intentions for each of its brands through the end of 2018. However, even the best strategies sometimes need tweaking. According to Reuters after speaking with unnamed people at auto suppliers, FCA is now possibly delaying at least a dozen projects in North America for a variety of reasons. From vehicle to vehicle, these postponements allegedly last anywhere from just a few months to over a year. The sources from the suppliers claim that in some cases these tweaks are for engineering and design changes. The next-gen Ram 1500 reportedly has among the shorter delays and is being pushed from mid-2017 to November 2017, according to Reuters. Also, the much-discussed future Jeep Wrangler is allegedly moving a little later to July 2017. Among the vehicles purportedly seeing longer delays, the next-gen Grand Cherokee could get pushed back about a year to 2018. That then forces the launch of the three-row, luxury Grand Wagoneer to be even further away. Jeep's upcoming C-segment CUV and the all-new Chrysler 300, Dodge Charger, and Challenger might also see postponements. The one brand allegedly seeing an accelerated plan is Alfa Romeo. Without going into detail, the sources from these suppliers claim that the Italian automaker is getting even more vehicles for its lineup and could get them even faster than planned. "Those plans need to be flexible and fluid, with the potential to add some vehicles, pull some forward and extend the life cycle of others," FCA said to Reuters about all of these allegations. "We look at these programs on a vehicle-by-vehicle basis." Investment in the auto industry has been a major topic for FCA CEO Sergio Marchionne as of late. He believes consolidation is necessary so that companies aren't burning money on the same projects. Related Video: News Source: ReutersImage Credit: Bill Pugliano / Getty Images Plants/Manufacturing Alfa Romeo Chrysler Dodge Fiat Jeep RAM Sergio Marchionne FCA fca us

Ringbrothers 1969 Dodge Charger Defector is a mean green machine

The 1969 Dodge Charger is one of the most recognizable cars ever built. Its debut at the peak of the muscle car era, sleek bodywork, and roaring Hemi V8 represented everything that was wonderful about American cars from the 1960s. It was fast, loud and moved like a greyhound off the line in search of that mechanical lure. Ringbrothers, the shop behind cars like the De Tomaso Pantera "ADRNLN" and t he Chevy Chevelle "Recoil," have unveiled its latest project - the 1969 Dodge Charger "Defector". Like most Ringbrothers projects, a first glance doesn't show much more than some wheels, new paint and a different ride height. Like any good custom car, the devil is in the details. The Defector falls into the restomod category, meaning it has classic looks but has been updated with modern parts and technology. This is the first time the shop has done a Mopar product, and they wanted to knock it out with the first attempt. While it may look stock, the bodywork has been significantly altered. Compared to a standard '69 Charger, the trunk lid is two inches shorter and the wheelbase has been increased by three inches. That means the car has new rockers and new quarter panels. The car was then painted in a BASF color called "Greener On The Other Side." It wears a black vinyl roof and a black stripe around the rear. The stripe and grille both sport the Ring Brothers logo. The car rides on 19-inch HRE wheels and uses Baer brakes with six-piston front calipers. The new rear subframe comes from Detroit Speed. The ancient steering rack has been replaced with a new rack and pinion unit. We assume this means it won't steer like a drunken hippo in a mudslide. Like the exterior, changes to the interior are subtle. It looks stock, but the seats wear new upholstery and the dash has been fitted with an Alpine stereo with a touchscreen display. The new steering rack is fitted with a nice Nardi steering wheel. The most modern update rests under the hood. In place of the old V8, Ringbrothers have swapped in a new 6.4-liter Hemi V8. It's the same one you'll find in any number of modern Mopar products. It's been tuned by Wegner Motorsports and exhales through a new Flowmaster exhaust system. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.