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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.

Best and worst car brands of 2022 according to Consumer Reports

It's that time again, Consumer Reports this morning lifting the curtain on its 2022 Annual Car Brand rankings and its 10 Top Picks in the car, crossover, and truck category. Drumroll, please: This year, Subaru climbs two spots to claim the winner's circle, having come third the last two years. Last year, Mazda climbed three spots from 2020 to take the crown. This year, Mazda slipped to second, BMW taking the last spot on the podium, also a one-spot drop from 2021. Six automakers in the top 10 hailed from Japan, which is one more than last year, and five luxury makers occupied the top 10, which is two more than last year. And South Korean representation didn't crack the top this year, after Hyundai managed tenth last year. The seven makes after BMW are: Honda, Lexus, Audi, Porsche, Mini, Toyota, and Infiniti.  The magazine and testing concern says its Brand Report Card "[reveals] which automakers are producing the most well-performing, safe, and reliable vehicles based on CR’s independent testing and member surveys," and that "Brands that rise to the top tend to have the most consistent performance across their model lineups." The domestics also took steps back among the 32 OEMs ranked on the 2022 card. Chrysler and Buick were the domestic carmakers who made last year's top 10 in eighth and ninth, respectively. This year, Buick dropped to eleventh, Chrysler to thirteenth. Dodge went from fourteenth to sixteenth. CR continues to ding Tesla's yoke steerer, the not-exactly-natural handhold responsible for the electric carmaker going from sixteenth last year to twenty-third this year.

2016 Dodge Viper ACR is ready to take a bite out of the Corvette Z06 [w/video]

The Dodge Viper ACR is back, and as Fiat Chrysler Automobiles tells it, it's the most venomous breed ever born. Before you get too excited, the 8.4-liter V10 produces 645 horsepower; five more than the standard Viper and five less than the supercharged Chevrolet Corvette Z06. It's unclear why Dodge didn't extract more from the huge engine, although we somehow imagine that certain people in Maranello, Italy had a say in the matter. Instead of blessing the ACR variant with bunches of extra output, Dodge instead turned to an aggressive aerodynamics package that it claims delivers nearly a ton of downforce at the Viper's maximum speed of 177 miles per hour. The total aero package includes an adjustable, twin-element, carbon-fiber rear wing, carbon-fiber diffuser, an extendable front splitter, and dive planes. Those big louvers on the hood? Yeah, they're removable, too. The "race-tuned" suspension uses coil-over Bilstein shocks that offer ten different settings and up to three inches of height adjustment. Kumho Ecsta V720 tires were built specifically for the Viper ACR, and come in 355/30 in back and 295/25 in front, with 19-inch wheels at all four corners. Along with the aero improvements, Dodge is claiming the Viper can pull a race-car-like 1.5Gs in higher-speed turns. Carbon-ceramic brakes with six-piston calipers add the stopping power that's greater or equal to the ACR's cornering performance. Dodge was also keen to reduce weight, taking some rather dramatic measures in the effort. The stereo has just three speakers, while the electric function was removed from the seats. Even the carpet has been replaced with a "lightweight" alternative. Finally, Dodge is offering up the innovative 1 of 1 customization it pioneered with the Viper GT earlier this year. That means that not only can you get the fastest Viper ever built, but it'll be entirely your own when you take delivery.