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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.

Big rig gets blown over on Wyoming freeway, flattens police cruiser

A big rig navigating a stretch of windy Wyoming highway last week was blown over by high winds and landed on a Wyoming Highway Patrol cruiser. According to CBS News, three Wyoming Highway Patrol troopers responded to an accident along Interstate 80 near Elk Mountain on February 7. While the troopers were out of their cars assisting the crash victims, a white Volvo semi-truck lumbered up I-80 toward them. Wind gusts in that part of Wyoming were clocked in at up to 90 miles per hour on Tuesday, and one of them caught the semi as it neared the parked cruisers. Video from one of the cruiser's onboard cameras showed the big rig drift to the right as a big gust hit the trailer. Slowly, the whole rig tipped over and flattened one of the parked cruisers. The truck then slid a few feet on its side and came to a stop just aft of the cruiser. None of the troopers were injured in the incident, and two people in the truck came out of it unhurt as well. Patrol Lieutenant David Wagener told KGWN that that stretch of I-80 was closed on Tuesday to lightweight, high-profile vehicles. The truck driver was cited for the incident. High winds are no joke, and vehicles getting blown around or even clean off the road is a pretty common phenomenon. Way back in 2011, a truck got blown over in Utah. Then there was a train that got blown off a bridge in Louisiana in 2015. Related Video: News Source: CBS News, KGWN Auto News Dodge Volvo Driving Safety Truck Commercial Vehicles Police/Emergency Sedan semi truck rollover wyoming

Junkyard Gem: 1990 Dodge Colt Vista

The partnership between Chrysler and Mitsubishi started way back in 1971 and led to plenty of Mitsubishis being sold in the United States as Chryslers, Dodges, Plymouths, and Eagles (plus the use of Mitsubishi engines in all manner of Chrysler-built vehicles). The Colt name – used on a series of Galant-, Lancer-, and Mirage-based cars – became a fairly successful brand for Chrysler, and so it was slapped on Dodge- and Plymouth-badged Mitsubishi Chariots. The Colt Vista wasn't a huge sales success, and you won't see many today, but they had a certain following. Here's a rare '90 that I spotted in a Minneapolis self-service wrecking yard over the summer. Just 114k miles on this one, but the rust got pretty bad and that's the most likely culprit for its junkyardization. These cars made good family haulers, although you wouldn't find many of their 2016 counterparts sporting three pedals. Turbo Tom kept it going for quite a while, but rust never sleeps in Minnesota. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. In Japan, the Chariot was sponsored by the terrifyingly disembodied head of Mickey Mouse. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Seats seven actors! Featured Gallery Junked 1990 Dodge Colt Vista View 17 Photos Auto News Dodge Automotive History Hatchback Minivan/Van dodge colt