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CEO Sergio Marchionne curses FCA spokesman for emissions cheating denial

WASHINGTON — Fiat Chrysler Chief Executive Officer Sergio Marchionne reprimanded the company's top U.S. spokesman for issuing press releases about Fiat's vehicle emissions practices days after Volkswagen's disclosure in September 2015 that the German automaker had used illegal software to evade emissions tests, documents released Monday show. Lawyers suing Fiat Chrysler Automobiles in a securities case filed excerpts of an email from Marchionne to Gualberto Ranieri, then the company's U.S. spokesman, in a filing in federal court in New York criticizing him for saying that the company does not use defeat devices. "Are you out of your goddam mind?" Marchionne wrote in an email on Sept. 22, 2015, adding that Ranieri should be fired and calling his actions "utterly stupid and unconscionable." The company said in a statement on Monday it was "understandable that our CEO would have a forceful response to any employee who would opine on such a significant and complex matter, without the matter having been fully reviewed through its appropriate channels." The statement added that Ranieri's comments came just days after VW's emissions issue became public "and before a comprehensive internal review and discussions with component suppliers was possible." Fiat Chrysler was sued in 2015 along with Marchionne and other executives over claims it defrauded shareholders by overstating its ability to comply with vehicle safety laws. An amended version of the complaint filed in 2017 added claims about its compliance with emissions laws. The shareholders accused the defendants of inflating Fiat Chrysler's share price by hundreds of millions of dollars from October 2014 to October 2015 by downplaying safety concerns. They said the shortcomings materialized in 2015 when the automaker was fined $175 million by the National Highway Traffic Safety Administration, and took a roughly $670 million charge for recalls. Plaintiffs filed the excerpts seeking approval to take up to 40 additional depositions, including Marchionne's. The U.S. Justice Department sued Fiat Chrysler in May 2017, accusing it of illegally using software to bypass emission controls in 104,000 diesel vehicles sold since 2014. Fiat Chrysler has held numerous rounds of settlement talks with the Justice Department and California Air Resources Board to settle the civil suit, including talks as recently as earlier this month. It faces a separate criminal probe into the matter.

This incredibly '90s Dodge Ram video shows roots of the luxury pickup truck

To paraphrase the Talking Heads, you may find yourself behind the wheel of a Ram 1500 Limited with a 12-inch touchscreen and sumptuous leather, and you may ask yourself, "How did we get here?" Well, some of that credit goes to that loaded Ram's predecessor, the second-generation Dodge Ram. As you'll see in this fascinating promotional video for the truck uploaded by YouTube Channel TheClassicSports, it seems to highlight all the things that make up the modern pickup truck, albeit in a slightly more modest form. Right off the bat, the video starts talking about how the new Ram isn't your traditional pickup. It has features like anti-lock brakes, a spacious, comfortable cabin and standard driver-side airbag. Later, it notes the extensive sound insulation, as well as the cupholders and a giant center console to set up your mobile office, with space for a cell phone and laptop.  But it's not just a comfortable truck. It's a powerful, practical and intimidating one. This Ram is frequently credited as the truck that changed pickup design, moving from simple rectangular boxes to ones with style, particularly semi-truck style. In the video, the host notes that regardless of what people think, "They all call it 'big'." And of course, there's the all-important utility aspect. Highlights include various interior storage bins, slots in the bed to create divided sections, and the critical towing and payload capacities; best-in-class of course. Don't forget the wide array of engines, too, from the base V6 to the unique at the time gas V10 engine. This isn't to say that competitors from Chevy and Ford weren't changing to this more stylish, more well-appointed truck philosophy, either. The mid-'90s Silverado was quite modern, too, with its sleek, if still boxy shape. And the late-'90s F-150 ushered in a sleek, curvy design that has yet to return to the full-size market. But the second-generation Ram really encompasses everything about how the truck market was about to change for the next few decades. Related Video:

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.