2004 Dodge Ram 3500, 4x4, Automatic, Single Rear Wheel, Slt, 5.9 Cummins Diesel on 2040-cars

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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.

Dodge supercharges the national anthem with 8,950 horsepower

With a video titled "Let Freedom Rev," Dodge teases its upcoming lineup for the 2021 model year, all of which will be fully revealed on July 2. We'll have all the details for you on that day, but there's some interesting news to glean from an accompanying statement from Tim Kuniskis, who serves as the head of Dodge and SRT. “The sound of a screaming supercharged HEMI is so distinctive that this teaser video doesnÂ’t need a single image ... if you know, you know. Tune in July 2 to celebrate with Dodge the pursuit of life, liberty and 8,950 horsepower.” Reading between the lines, it seems that Kuniskis is saying the total horsepower figure for the entire 2021 Dodge lineup will equal 8,950 ponies. Draw your own conclusions, but that cryptic statement's focus on power ought to be enough to get enthusiasts excited for more. The video may be short on moving pictures, but its soundtrack is the star. The "Star-Spangled Banner," that is. This particular rendition of the U.S. national anthem was produced using sounds of Dodge's high-performance lineup, complete with engine revs, upshifts, downshifts and plenty of supercharger whine. Check it out above, and stay tuned for more. Related Video:

11 vehicles from Barrett-Jackson Las Vegas worth watching

This weekend will see the world's collector car crowds descend on Las Vegas, NV for one of the biggest shows on Barrett-Jackson's popular auction circuit. There are hundreds of vehicles up for bidding, ranging from a brand-new Lamborghini Aventador to a spattering of Art Deco classics and a huge swath of classic muscle cars.
While it's virtually impossible to assemble an inarguable list of the best cars coming during the three-day, 700-plus vehicle auction, we've sifted through the listings for this year's show - it was a tough assignment, we promise - and assembled a list of what we think will be some of the most interesting lots. We'll admit, it's a bit heavy on American iron, but if you browse BJ's listings, you'll come to a similar conclusion. Still, scroll down for our list of what we think will be the most interesting vehicles at the upcoming auction.