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Junkyard Gem: 1994 Dodge Spirit

Under Lee Iacocca's watch, Chrysler began selling the first of the modern new K-Cars for the 1982 model year, and American sales of Ks and K-derived cars and minivans continued all the way through 1995. While these vehicles saved Chrysler from near-certain doom after the agony of a government bailout in 1979, the platform had become pretty outdated by the middle 1990s (though GM didn't hesitate to sell its similar-vintage J-Cars well into our current century). The Spirit replaced its aging Aries cousin starting in 1989, and has become very tough to find today. Here's a late Spirit with the optional Mitsubishi V6 engine, found in a Denver self-service yard recently. For the 1991 and 1992 model years, the Spirit R/T was the fastest new four-door car you could buy in the United States. With 224 horsepower from a very nervous turbocharged 2.2-liter engine, the Spirit R/T could run the quarter-mile in 14.5 seconds and hit a top speed of 141 mph. Today's Junkyard Gem isn't one of those cars, unfortunately. The base engine in the 1994 Spirit was a 2.5-liter Chrysler straight-four rated at 100 horsepower, but this car has the optional 142-horse Mitsubishi 6G72 V6 engine. The 6G7 family of engines remains in production to this day, 35 years after the first one went into a Galant, and members of this engine family have powered everything from the Diamante to the Sonata. On Chrysler vehicles of all-Mitsubishi design from this era, the engines tended to have big Mitsubishi emblems prominently displayed. For a Chrysler-designed car, though, it made more sense to badge the engine as a Chrysler. Note the British spelling of the unit of displacement here; GM and Ford started that trend back in the 1960s, with the "6.5 litre" Pontiac GTO and "7.0 litre" big Fords. With the big engine plus power windows, decklid luggage rack, and other luxurious (for a Spirit) options, I'm pretty sure this car didn't start life in a fleet. It drove more than 175,000 miles during its time on the road. The resale value of a 26-year-old Detroit sedan with high miles can't be much, even if the interior still looks nice enough, so any mechanical problem (or just a trade-in) spells doom for cars such as this one. The gold insets in the aluminum wheels look very stylish. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 117 out of 200 Americans preferred the Spirit to the Honda Accord! This content is hosted by a third party.

Stellantis moves to set up its own lending unit

Stellantis is buying Houston-based auto lender First Investors Financial Services Group to set up its own finance arm in the U.S., a move that should support sales and eventually boost profit. The only major traditional automaker in the U.S. without its own finance company agreed to pay $285 million to a group of investors led by Gallatin Point Capital and Jacobs Asset Management, according to a statement. The transaction is expected to close by year-end. Stellantis was formed via the merger between Fiat Chrysler and PSA Group early this year. Carlos Tavares, the PSA boss who became the combined company’s chief executive officer, called the deal to acquire First Investors a milestone that will increase earnings and enhance customer loyalty. “Direct ownership of a finance company in the U.S. is a white-space opportunity which will allow Stellantis to provide our customers and dealers a complete range of financing options,” Tavares said Wednesday in the statement.  Having an in-house finance company has helped rivals General Motors Co. and Ford Motor Co. pad profits, especially during the global semiconductor shortage that has limited production and crimped sales. GM bought subprime lender AmeriCredit Corp. in 2010 and renamed it GM Financial. The operation generated a $2.76 billion profit in the first half -- roughly a third of the companyÂ’s adjusted earnings before interest and taxes. Trouble for Santander? The First Investors acquisition could spell trouble for Chrysler Capital, the operation that Santander Consumer USA Holdings Inc. and Chrysler set up in 2013 before the U.S. automaker completed its merger with Fiat. In a statement, Santander Consumer said itÂ’s committed to supporting Stellantis through the term of their existing agreement and its transition. Santander Consumer will also have “ongoing conversations with Stellantis about long-term mutually beneficial opportunities beyond 2023,” the company said, adding that its consumer business remains strong and has “delivered solid results for our shareholders.” This, along with support from its parent company, will allow the lender to “pursue additional opportunities as they arise.” The lenderÂ’s U.S.-listed stock fell 1.5% in New York trading Wednesday after Bloomberg reported Stellantis was preparing to announce a new finance partner. Stellantis shares rose as much as 1.3% in Paris trading Thursday.

Zombie cars: A dozen discontinued vehicles people still buy new

Car models come and go, but as revealed by monthly sales data, once a car is discontinued, it doesn't just disappear instantly. And in the case of some models, vanishing into obscurity can be a slow, tedious process. That's the case with the 12 cars we have here. All of them have been discontinued, but car companies keep racking up "new" sales with them. There are actually more discontinued cars that are still registering new sales than what we decided to include here. We kept this list to the oldest or otherwise most interesting vehicles still being sold as new, including a supercar. We'll run the list in alphabetical order, starting with *drumroll* ... BMW 6 Series: 55 total sales BMW quietly removed the 6 Series from the U.S. market during the 2019 model year. It had been available in three configurations, a hardtop coupe, a convertible and a sleek four-door coupe-like shape.   BMW i8: 18 total sales We've always had a soft spot for the BMW i8, despite the fact that it never quite fit into a particular category. It was sporty, but nowhere near as fast as similarly-priced competitors. It looked very high-tech and boasted a unique carbon fiber chassis design and a plug-in hybrid powertrain, but wasn't really designed for maximum efficiency or maximum performance. Still, the in-betweener was very cool to look at and drive, and 18 buyers took one home over the course of 2021.   Chevy Impala: 750 total sales The Impala represented classic American tastes at a time when American tastes were shifting away from soft-riding sedans with big interior room and trunk space and into higher-riding crossovers. A total of 750 sales were inked last year.   Chrysler 200: 15 total sales The Chrysler 200 was actually a pretty nice sedan, with good looks and decent driving dynamics let down by a lack of roominess, particularly in the back seat. Of course, as we said regarding the Chevy Impala, the number of Americans in the market for sedans is rapidly winding down, and other automakers are following Chrysler's footsteps in canceling their slow-selling four-doors. Even if Chrysler never really found its footing in the ultra-competitive midsize sedan segment, apparently dealerships have a few leftover 2017 200s floating around. And for some reason, 15 buyers decided to sign the dotted line to take one of these aging sedans home last year.