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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

Zombie cars roundup: Dodge has sold 3 new Vipers this year

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.

2021 Dodge Durango SRT Hellcat is here to be the king of all SUVs

This was inevitable, right? The 2021 Dodge Durango SRT Hellcat has arrived, and Dodge hasn’t held anything back. FCA has essentially taken its lovely Hellcat engine and dumped it into the largest SUV it sells. Cheers to that. Power from the 6.2-liter supercharged V8 is rated at 710 horses and 645 pound-feet of torque in this application. It has 3 extra ponies beyond the traditional 707-horsepower version, and thatÂ’s probably just so Dodge can call it the most powerful SUV in the world, eking by the Jeep Grand Cherokee Trackhawk that has 707. The Durango Hellcat will crack off a 3.5-second 0-60 mph time and hit a top speed of 180 mph, assuming youÂ’re brave enough to take it there. The 0-60-mph time is 0.9 second quicker than a non-supercharged Durango SRT. Dodge pitted the two against each other on a 2.1-mile road course, and the Hellcat completed the lap 1.5 seconds quicker than the base SRT. All the shifting continues to be handled by an eight-speed automatic transmission. Of course, Dodge is also giving the Durango SRT Hellcat more braking and more suspension to handle the extra power. The upgraded suspension is tuned to be more comfortable in Auto mode and offer better handling in Track mode with less roll, less understeer and better rebound control. This is thanks to newly tuned shocks and stiffer top damper mounts. The brakes are upgraded to massive Brembo six-piston calipers in front and four-piston calipers in the rear. They clamp onto vented rotors at all four corners (15.75 inches in front and 13.8 inches in rear). Tires are 295-square, which is the same size as the regular SRT. You can choose between all-season or summer Pirelli tires. 2021 Dodge Durango SRT Hellcat View 17 Photos SRT says it tailored the Hellcat engine to the Durango to make sure it could handle sustained track use. It has a unique cooling circuit for the charge air coolers thatÂ’s designed to keep air going to the engine cooler than 140 degrees. The lower front fascia hides a “cold-air scoop” where the Durango pulls air in from. ItÂ’s all spit out through a new exhaust system thatÂ’s definitely going to be loud as hell. Dodge says it features a 260 mm X-pipe, which is the largest in the SRT lineup. From a styling standpoint, the Hellcat stands out from its brethren without looking too ostentatious.