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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.

2017 Challenger, Charger Hellcats recalled for catastrophic oil-line failure

If you own a Hellcat, either a Charger or Challenger, built between Feb. 6, 2017, and May 30, 2017, you may want to consider parking it for a while. The reason for this is NHTSA officially acknowledged a recall from Chrysler for engine oil cooler lines that could fail, leading to major oil loss. Which of course could lead to severe engine damage. According to the recall information, the issue lies in the rubber used in the oil cooler line. Chrysler's testing revealed that the rubber didn't meet the company's criteria. As a result it was able to separate from a crimped aluminum portion of the line, letting oil spill out. The recall goes into effect on Sept. 22, which is when Chrysler will start reaching out to owners to alert them. The company will replace the oil cooler lines free of charge. Owners can call Chrysler's customer service at 1-800-853-1403 with any questions regarding the recall, which has the reference code "T48." Related Video:

Is this the 2020 Dodge Charger SRT Hellcat Widebody?

Last month we told you about the heavy anticipation that Dodge will release Charger Widebody versions in SRT Hellcat and R/T Scat Pack trims for 2020. Now we have strong visual evidence to back it up. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Instagram user and self-described motorsports enthusiast zl1_dre_92c captured a brief video while out driving around suburban Detroit Tuesday of what appears to be a Charger SRT Hellcat Widebody with more pronounced fenders and distinctive graphics passing him in traffic. We can see SRT spelled out on the lower passenger front door and on the rear fascia, and curiously, it appears to be sporting a Florida license plate. Mopar Insider says a source told it that's because Dodge was trying to keep the muscle car away from the usual prying eyes in Detroit and instead has been running it around its secret testing facility near Naples, Fla. The website further surmises that the model could well debut this weekend at the SoCal LX Club Spring Fest 14 in Pomona, Calif., an annual gathering of Mopar fanatics. That would explain the flashy wrap graphics and our suspicions that this isn't a test car; why else would Dodge so clearly advertise the car's SRT lineage? Although both models would get specialized suspension tuning, it's believed that the engines and outputs will remain — a 485-horsepower, 6.4-liter V8 in the R/T Scat Pack and the 6.2-liter V8 making 717 hp for the SRT Hellcat. Both will also reportedly get the same 20-by-11-inch Pirelli performance tires as are found on the Challenger Widebody. They're wrapped around five-spoke blacked-out aluminum wheels, accented with red brake calipers. It appears we'll know more about this curiosity soon.