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Stellantis sees vehicle loan durations extended amid banking turmoil

Stellantis is seeing clients seeking longer-term financing and leasing deals for their vehicles as a consequence of higher global interest rates, the carmaker's head for the business said. Chief Affiliates Officer Philippe de Rovira said loans which normally had a three-year maturity were now increasingly moved to four years. "This allows customers to get a car for a monthly instalment that is similar to that they had before," he said. The world's third largest carmaker by sales on Tuesday announced it had completed a plan announced in late 2021 to reshuffle and simplify its leasing and financing operations in Europe. Under its terms, Stellantis created a 50-50 single long term multi-brand leasing company named Leasys with Credit Agricole Consumer Finance. It also set up local joint ventures in European countries for its new Stellantis Financial Services unit, formerly Banque PSA Finance, with BNP Paribas Personal Finance and Santander Consumer Finance. "These banks have always had better funding conditions than those we can have as an automaker," de Rovira said. Benefits of the plan included cutting the number of financing and leasing entities the group runs in each country and the number of IT systems it uses, with expected savings exceeding 30% in this particular area, he added. De Rovira said the group had a huge portfolio of orders it had not yet delivered due to supply chain shortages impacting production. "Demand is not our main issue. The issue is to deliver as fast as we can cars that are in our order portfolio, which is still at record levels," he said. The group aims to expand its corporate leased vehicle fleet to more than one million units in 2026 and to double net income from its so-called banking activities to 5.8 billion euros ($6.3 billion) by 2030. De Rovira said Stellantis was not seeing a downward trend in vehicle pricing. "Probably the significant price increases we have seen in 2021 and 2022 will not be repeated because the context is changing, but for the moment we don't see decreases, we see stabilisation". ($1 = 0.9188 euros) (Reporting by Giulio Piovaccari and Gilles Guillaume; Editing by Jan Harvey) Earnings/Financials Plants/Manufacturing Alfa Romeo Chrysler Dodge Jeep RAM

Dodge gives 2015 Viper slight power increase, new GT model

With its troubling sales figures, the newly rechristened SRT Dodge Viper needs to come out swinging for 2015. To do that, Dodge has made a number of tweaks and changes that will hopefully carry the V10-powered sports car into more successful days.
First up for 2015 is a new GT model, which aims to marry the reasonable price of the base car with the adjustable suspension and trick stability control program of the GTS model. The GT also sports a cabin that's covered in Alcantara suede and Nappa leather as standard.
Also new for 2015 is the SRT TA 2.0 Special Edition, which expands on last year's Viper TA by adding new aerodynamic bits and bobs, including a larger rear wing, which ups downforce at 150 miles per hour from 278 pounds to 400 pounds.

1942 Dodge Carryall from WWII featured on 'Jay Leno's Garage'

On this episode of Jay Leno's Garage, Leno takes a look at a unique Dodge Carryall, both in its past and present states. The Carryall is a 1942 model restored and modified by Winslow Bent at Legacy Classic Trucks in Wyoming. According to Bent, the truck spent time in Tunisia during World War II. Obviously it's no longer a military vehicle, but Bent explains that he and his crew built the truck to still be extremely durable, since its new owner wanted a support vehicle for classic car rallies around the world and in remote locations. To reach this end, the Carryall's original inline-six has been replaced with an intercooled Cummins 4BT turbocharged diesel four-cylinder. Bent modified the engine to make less power than it could in order to make the engine understressed and longer lasting. In total, it makes only 130 horsepower, but 380 pound-feet of torque. It also features a boxed frame and heavy duty axles. It's plenty practical, too, with a large roof rack, winch, and even an on-board welding setup. But it's not all hardcore upgrades, since it also has air conditioning. Check out all the other cool details and listen to Leno and Bent geek out over leaf springs and intakes in the video above. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: YouTube / Jay Leno's Garage Aftermarket Dodge Truck SUV Off-Road Vehicles Special and Limited Editions Classics Videos Jay Lenos Garage dodge power wagon