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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.

It ain't easy keeping a Hellcat steady at 170 mph on ice

The Dodge Challenger SRT Hellcat you see hit the ice at Arsunda Speed Weekend in Sweden, over two hours north of Stockholm. It's said to be bone stock, save for the studded tires that help it grip on ice. But it apparently takes more than some steel studs and a lead foot to keep it pointed the right way. Just look at how much driver Alx Danielsson has to saw at the wheel to keep the Hellcat from veering off course. Fortunately he seems to have the chops to do so, being not only a native of Sweden (and therefor imbued from birth with otherworldly abilities to drive on ice) but also having won the highly competitive Formula Renault 3.5 Series championship back in 2006. In the end Danielsson hit a top speed in excess of 170 miles per hour, touted as some sort of record, however unofficial (and specific to Dodge Challengers). That's a fair bit shy of the 205 mph that Bentley achieved in the Continental Supersports, but while that model had slightly less power than the Hellcat, it did have the benefit of all-wheel drive – something that could make all the difference in these kinds of slippery conditions. Related Video:

FCA recalls 210,000 new Jeeps and Dodges due to a brake issue

FCA is recalling some 210,000 vehicles in the U.S. and elsewhere over a possible braking issue. On this occasion, the recall is made less complicated by the fact that about one-third of the affected vehicles are so new, they still reside on dealer lots, making them easy to tally up and put right. The recall concerns 2018 Dodge Journeys, 2019 Jeep Cherokees and 2018-2019 Dodge Grand Caravans and 2018-2019 Jeep Compasses. Most were built in spring 2018, and the recall is related to a brake system component that failed to meet FCA specifications. Further information available on the NHTSA website details the issue, saying that insufficiently coated rear brake caliper pistons may cause gas pockets to form in the brake fluid of very new vehicles. This in turn can reduce rear brake performance — bubbles in brake lines are not desirable. FCA underlines that the brakes still function, but stopping distance can be affected. As a remedy, the brake systems are inspected and re-bled. The recall is slated to begin on Sept. 28. In addition to 154,337 vehicles in the United States, the recall concerns 19,066 units in Canada, some 900 in Mexico and some 35,500 vehicles on other markets. Related Video: Image Credit: AOL Recalls Dodge Jeep Minivan/Van SUV FCA