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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

Next Dodge Challenger to be electrified, says FCA boss

Dodge is the last of Detroit's Big Three to truly keep the muscle car purpose and heritage alive with the Challenger and Charger. As the Mustang and Camaro have transitioned to sports car-like experiences, the high-horsepower Dodges have stuck to their guns as straight-line behemoths with little intention of competing with the others in corner carving. People still dig the old-school-cool of cars like the Challenger, as sales actually went up while Mustang and Camaro sales took a hit in 2018. That said, new FCA boss Mike Manley said things will be changing in an electric way for the next generation, in a report by The Detroit News. "The reality is those platforms and that technology we used does need to move on. They can't exist as you get into the middle-2020s. New technology is going to drive a load of weight out, so we can think of the powertrains in a different way. And we can use electrification to really supplement those vehicles." News of electrified muscle cars is nothing new at this point. Ford says it's going to reveal a Mustang Hybrid in 2020. And with Al Oppenheiser (former chief engineer for the Camaro) moving to GM's electric division, you better believe Chevrolet is working on an electrified version of the Camaro. This, however, is the first solid evidence we have that FCA and Dodge are making such a move. What Manley said next is something we all know to be true, but a bit heartbreaking nonetheless. "I think that electrification will certainly be part of the formula that says what is American muscle in the future. What it isn't going to be is a V8, supercharged, 700-horsepower engine," Manley says. Even if it's a bit silly, we all love the Hellcat for its 707 horsepower V8. Clearly, plenty of other people do, too, because Dodge keeps cranking out more insane versions of the car with the Redeye and Demon. As for how much electrification Dodge's muscle car will receive, Manley wouldn't go into detail. Though he does say that electrification "can't be the dominant part." This should provide some solace to all those worried the gasoline engine could disappear from the American muscle car. Just as Dodge is reluctant to stray from the original intent of the muscle car, it's not hard to imagine the Challenger/Charger being the last to go full-electric. Gas engines supplemented by 48-volt systems or plug-in hybrids will most likely be the end result when we first see electrified Challengers.

2015 Dodge Charger configurator opens up shop

Itching to get your hands on a new 2015 Dodge Charger? Your day is almost nigh, my friend While you're waiting, you can spec out how you'd want your muscle sedan to look as Dodge has included the revised four-door in its online configuration tool. Though it's not the most impressive or interactive of configurators we've seen, the site lets you choose any color you want (from the limited array available anyway) along with all the key options packages and such. First you'll need to choose a trim level though, but we're afraid the Hellcat version isn't part of this site, and the SRT site hasn't launched a configurator yet for the world's fastest production sedan, so you'll have to choose between SE, SXT and R/T trim levels. Related Video: