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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.

Chrysler recalling 780k minivans over fire risk

Chrysler is recalling 780,000 of its Town & Country and Dodge Grand Caravan minivans from the 2010 to 2014 model years due to the possibility of circuits overheating, which can lead to a fire. Of the 780,000 total vans being recalled, Chrysler estimates that 644,850 are in the US, 106,980 are in Canada, 8,009 are in Mexico, and 20,638 are in other markets. All of the affected vehicles were built between August 25, 2010 and October 31, 2013.
Chrysler's engineers discovered that beverage spills or exposure to moisture (from rain, snow, car washes, and the like) were linked to circuits shorting in the window switch assembly. Short circuits can overheat, and thus, cause a fire.
Chrysler will contact owners and let them know when they may schedule service, at which point, the window switches will be replaced. In the interim, the automaker says that owners may visit their dealers after May 14 to have the switches disconnected.

2020 Dodge Charger Hellcat Widebody, Scat Pack Widebody get grip, go faster

You all knew this was coming. Dodge basically showed it to the public a few months ago. But it's finally official, the 2020 Dodge Charger Hellcat Widebody and naturally aspirated Scat Pack Widebody are going into production. Like the Challenger Widebody, the Charger version is defined by its, well, wide body, which is now standard on all Hellcats and an option on Scat Packs. The fender flares add a total of 3.5 inches of width. Dodge also tweaked the front and rear bumpers and added wider side skirts to help the flares blend into the body. The Hellcat gets a unique rear spoiler, whereas the Scat Pack sticks with the same one its scrawnier twin uses. 2020 Dodge Charger Scat Pack Widebody View 20 Photos But the big advantage to this wide body is the fact Dodge can stick way more tire under the Charger. All Charger Widebody models get 11-inch-wide wheels with 305-mm tires at all four corners. Each version gets revised suspension, too. The Hellcat gets stiffer front springs, thicker front and rear anti-roll bars and retuned shocks. The Scat Pack gets a similar update, but without the thicker front anti-roll bars. Both cars also get six-piston front brake calipers from Brembo with two-piece rotors. All these handling upgrades mean the Charger is an even more impressive track machine. Dodge says the Hellcat now pulls 0.96g on a skid pad, and the Scat Pack Widebody does a little better at 0.98g. The Hellcat has also improved its lap time of Chrysler's 2.1-mile test course by 2.1 seconds, and the Scat Pack improved by 1.3 seconds. Both cars are also still fast in a straight line, with Dodge saying the Hellcat will hit 60 mph in 3.6 seconds on the way to a 10.96 quarter-mile time. Which, Dodge proclaims, makes it the world's most powerful and fastest mass-produced sedan. The Scat Pack Widebody will hit 60 in 4.3 seconds on the way to a 12.4-second quarter-mile.