2011 Dodge Journey Crew on 2040-cars

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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.

Junkyard Gem: 1977 Dodge Colt Mileage Maker Coupe

While Ford and GM each had the resources to develop their own Michigan-designed subcompacts for the dawn of the 1970s— the Pinto and Vega, respectively— Chrysler couldn't afford the huge price tag for such a project. Instead, Chrysler's European operations were tapped for a couple of models that sold well enough on the other side of the Atlantic, giving us the Plymouth Cricket (known as the Hillman Avenger in the UK) and the Simca 1204 (aka the Simca 1100 in France). American car shoppers gave those two models the cold shoulder, but then Chrysler found genuine sales success by making a deal with Mitsubishi to sell the Colt Galant with left-hand drive. This became the Dodge Colt, with sales beginning in the 1971 model year. Though the 1971-1978 rear-wheel-drive Colts were once as commonplace as Corollas or B210s on American roads, they have all but disappeared today. That makes today's Junkyard Find, discovered in a Denver-area yard last week, particularly interesting. This car shows signs of having been in the hands of a speed-crazed enthusiast owner, including an aftermarket steering wheel and one-piece racing seats with slots for five-point harnesses. The primer-gray paint is another clue. The rear-wheel-drive Colts were reasonably quick for their time, and they could be made genuinely quick with basic engine upgrades. This Mitsubishi Saturn four-banger has a tube header, hot-rod ignition system, and a two-barrel (Mikuni-made) Solex carburetor. We can assume there's probably some kind of cam upgrade under the valve cover, too. The shifter is gone, but the original transmission in this car was either the base four-speed or optional five-speed manual. A three-speed automatic was available for $270 (about $1,275 today). Later on, front-wheel-drive Colts (and Mitsubishi Mirages) could be bought with the Twin-Stick overdrive rig, which gave drivers eight forward speeds and the opportunity to make Twin-Stick beer taps. The 1977-1978 Dodge Colt two- and four-door sedans were based on the Mitsubishi Lancer and were a bit smaller than the 1971-1977 cars, while the wagon version moved to the Galant Sigma platform. The build tag shows that this car started life as the cheapest 1977 Colt model, the "Mileage Maker" two-door sedan (Dodge dealers called it a coupe, so that's what I'm calling it in the title).

Dodge pumps power to the people with $10 discount per horsepower

Dodge announced an incentive program named Power Dollars, which represents the next step in its mission to bring horsepower to the people. Starting on August 1, the automaker is luring enthusiasts into its showrooms by offering a $10 per horsepower discount on select models. The Power Dollars program applies to the 2019 Challenger (pictured), the 2019 Charger and the 2019 Durango. It's as simple as it sounds: if you buy a 500-horsepower car, you benefit from a $5,000 discount. The more horsepower you choose to put in your garage, the more money you save when you sign the dotted line. The 797-horsepower Challenger Hellcat Redeye comes with a $7,970 discount. At the other end of the spectrum, the Charger SXT powered by a 3.6-liter V6 rated at 292 horsepower is eligible for a $2,920 rebate.  The Grand Caravan has 283 horsepower, so it's not far from the Charger SXT, but it's not included in the program. The Journey with the same 3.6-liter V6 engine isn't in it, either. Dodge launched the Power Dollars program to boost sales, and likely to clear the remaining 2019 models out of its inventory before the 2020s arrive. But the company has another reason to make its muscle cars cheaper, one we don't think we've heard from an automaker yet. "Since bringing the Charger and the Challenger back to the market, Dodge has put 485 million horsepower into the hands of our loyal enthusiasts. The goal is to grow to a half-billion horsepower before the end of the year," explained Tim Kuniskis, the global head of Alfa Romeo, and FCA's head of passenger cars in North America, in a statement. It's 15 million horsepower short of the milestone. It needs to sell about 18,820 examples of the Hellcat Redeye to reach its goal, or approximately 51,370 units of the Charger SXT.