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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

Hypermiling a Ram 1500 EcoDiesel to 38.1 mpg

You never quite know what Wayne Gerdes has up his sleeve. The man who coined the term hypermiling is always looking for adventurous ways to prove that anyone – even you... yes, you – can eke out more miles per gallon just by changing the way you drive. Saying that is easy. Proving it by going on outlandish cross-country drives is hard. But for Gerdes and his team of fuel economy fiends over at CleanMPG, hard is half the fun. Our latest adventure appeared, at first glance, to be nearly impossible. Which is why we always answer the phone when Gerdes calls. He likes to take journalists along on his drives, not only to try teach us how to hypermile but also to prove that we can be taught. The first time I 'helped' him and his team was when we got over 30 miles per gallon in a 2011 Ford F-150 XLT with the EcoBoost 3.5-liter V6. The EPA rated that truck with at just 16 mpg in the city and 22 on the highway. So, we'll count that trip as a success. Next up was a cross-country drive last fall in a trio of Audi TDI vehicles to prove that you don't need to drive extra slow to beat the EPA numbers. In fact, we made it from Los Angeles to New York City in just over 46 hours, cramped but not cranky. We had once again proven that how you drive is hugely important to your fuel usage. Our latest adventure appeared, at first glance, to be nearly impossible. The EPA says that the Ram 1500 EcoDiesel we would be driving gets just 22 combined mpg (19 city and 27 highway). Gerdes' idea was to drive it as far north from Houston, TX towards Detroit, MI as we could go on one tank. The day before we left, our itinerary got an extra stop. Instead of taking one of the official Shell Eco-marathon prototype vehicles to Detroit, it was decided to bring the winning diesel-powered prototype from the just-finished event to The Henry Ford Museum, where it had been arranged the car would be displayed. The winning car was built by a small team (just four students) from Sullivan High School in Sullivan, IN, who managed to beat a number of college teams with a score of 1,899.32 mpg. That target would be a bit out of reach for the Ram, but could we get 1,000 miles from the tank? Since the truck has a 26 gallon tank (officially, anyway), that would mean the EPA says we could only go 702 miles, assuming all highway driving. Could we make up 300 miles with careful driving? That spells both challenge and fun.

Dodge delaying Challenger Hellcats ordered with satin black hood [UPDATE]

The new Dodge Challenger SRT Hellcat is one of the most formidable muscle cars on the planet. And it looks the part, too – especially with the optional satin black hood. But if you were one of the first customers to place an order for the 707-horsepower Mopar muscle car and specified the black hood on the options sheet, you may have to wait awhile. According to members of the Hellcat.org forum cited by Car and Driver, deliveries of certain Challenger Hellcats have been delayed without explanation. When these fanatic customers started looking into the issue, they realized that all of the delayed orders shared one thing in common: they all had ordered their Dodges with that optional black hood. Although an exact reason wasn't specified, those who ordered the black hood on their Challenger coupes were told that delivery was being pushed back to February. But some were reportedly informed by their local dealership that things could be moved along if they switched their order to a body-colored hood instead. It's not clear if the issue is a supplier problem, a paint booth issue at the factory, or something else entirely. We've reached out to Dodge for clarification, and will update this story when we hear back. UPDATE: Reached for comment, a Dodge spokesperson confirmed to Autoblog that the satin black hood "is not currently available for production" and that customers who ordered it "can opt to change their order to a body-color hood" or otherwise have their orders delayed until the option becomes available at a later date to be confirmed.