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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

Watch the Dodge Charger SRT Hellcat verify its 204-mph top speed

The industry is producing some ridiculously fast four-doors these days, from the Porsche Panamera and Maserati Quattroporte to the Mercedes E63 AMG and BMW M5. But the fastest of them all doesn't cost six figures. It doesn't even come from Europe. It's made right here in North America, by a US automaker. And it starts at under $64k. We're talking about the Dodge Charger SRT Hellcat, the Pentastar muscle sedan with the 6.2-liter supercharged V8 and its 707 horsepower. Dodge claims it's the "quickest, fastest, most powerful [production] sedan ever," and they're not just blowing smoke... or smoking tires. During the final stages of development, engineers from Auburn Hills took a bone-stock, Hellcat-powered Charger out to a seven-mile oval for a top speed run and they filmed the occasion for posterity. The result? 206.9 miles per hour with the wind, 202.2 against it, for a two-way average top speed of 204.55 mph. Chew on that, imports.

Jay Leno drives the Demon-powered SpeedKore carbon fiber Dodge Charger

Jay Leno drives all sorts of wild vehicles on his TV and YouTube series "Jay Leno's Garage," from concept cars to classics. Although many of the vehicles are museum quality, they don't all come through in straight by-the-book factory form, as Leno often likes to highlight the creative and insane builds from premium speciality aftermarket shops. One of his favorites is SpeedKore, which recently dropped by with its carbon-fiber-bodied 1970 Dodge Charger Evolution. After cementing itself as one of the best builds of the year at SEMA 2018, the high-performance Charger paid Leno a visit to show off its immaculately assembled blend of classic and modern Dodge. It's not the first time SpeedKore has stopped by, as they've previously shot videos together of the 1967 Chevrolet Camaro, the 2016 Ford Mustang Shelby GT350R, and the 1970 Dodge Charger Tantrum. The Charger featured here wears its Evolution name because it is an updated take on the Tantrum build (which had 1,650 horsepower, by the way), but the two are quite different. The Charger Evolution uses numerous parts from Dodge's recent superstars, the Challenger SRT Hellcat and the Challenger SRT Demon. In fact, it's one of the only ways in the world to drive a Demon engine with a manual transmission. Under the hood is the 6.2L Supercharged Hemi V8 from a Demon pre-production car, and SpeedKore has tuned it up to 966 horsepower. It pairs with a Tremec M6 6060 six-speed transmission from the Hellcat. At full bore, the whine of the supercharger paired with the grumble from the custom stainless steel SpeedKore exhaust headers makes for a thrilling, if not unharmonized, battle cry. Whereas some restomods have cut corners, shoddy build quality, or imperfect fittings, Leno notes that SpeedKore's work is top-notch, despite the entire exterior body and many pieces of the interior being fully replaced with glossy clear-coated exposed carbon fiber. According to SpeedKore Vice President Dave Salvaggio, the Charger weighs about 3,400 pounds. Check out the full video above or read full details from our time with the car at SEMA. And as a bonus, Autoblog photographer Drew Phillips recently got to spend a day shooting the Charger. His gallery of photos appears below. Speedkore 1970 Dodge Charger View 53 Photos