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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

Dodge Challenger SRT Hellcat ringtone revs up [w/video]

The best (or worst, depending on your views) thing about smartphones is that you're able to carry lots, and lots of useful stuff around in your pocket. That means you can always have a phone, messaging service, email, flashlight, calculator, dictionary, encyclopedia, and literally thousands of other things on your person at all times. Now, we can add one more thing for you to carry about in your little slab of aluminum, glass and plastic - a Dodge Challenger SRT Hellcat.
Now, you obviously can't carry around a 707-horsepower muscle car around in your pocket. That'd be ridiculous, impractical and uncomfortable. You can, however, carry around the noise made by said muscle car's 6.2-liter, supercharged Hemi V8, thanks to a new, free-to-download ringtone from the folks at Dodge and SRT.
We can't embed the ringtone here, so if you'd like to hear exactly how it'll sound when your phone goes off, you'll need to head over to the SRT Hellcat's page. If that's more trouble than it's worth, the same ringtone was attached to a tiny speaker on the press kit for the mighty Challenger, and was captured on video by our own Seyth Miersma (don't worry, he's already been soundly dressed down for shooting a video in portrait mode).

SpeedKore carbon-fiber 1970 Dodge Charger packs a 996-hp Demon engine

SpeedKore Performance does some pretty neat things with carbon fiber. SEMA is always the place to show off new and interesting builds, and SpeedKore has a few new offerings on display. We talked about the lightweight carbon fiber 2018 Dodge Demon late last week, but now that SEMA 2018 is in full swing, we've got a look at something even cooler, an all-carbon, Demon-powered 1970 Dodge Charger "Evolution." SpeedKore Performance is based in Wisconsin and has been churning out SEMA showstoppers for years. In addition to the Demon, take a look at this Shelby GT350R the shop modified a few years back. The Charger Evolution is named so because it further modifies the SpeedKore Charger "Tantrum" that was used in the " Fast and Furious" films. That car used a carbon composite body and was fitted with a 9.0-liter Mercury Racing twin-turbo engine making an absurd 1,650 horsepower. The Evolution might be down on power — only 996 horses thanks to a modified Demon crate engine — but the goal was to create something a little more usable than the Tantrum. Upgrades include a smaller supercharger pulley, larger fuel injectors, a custom cold-air intake, stainless steel headers and a custom exhaust with SLP mufflers. There's also a Dailey Engineering dry sump, upgraded oil cooler, and Saldana radiator. It's also lighter, thanks to even more carbon fiber. SpeedKore had a goal to get the '70 Charger to about 3,200 pounds. To get there, the Evolution employs carbon-fiber bodywork, an aluminum floor, a steel roll cage and a new 2x3-inch steel box frame. SpeedKore's autoclave is large enough to bake a one-piece roof, hood and quarter panels. The bare bodywork has been finished with a clear coat to help prevent fading. The Evolution uses billet aluminum for the door handles, fuel cap and grille, all finished in a bronze-nickel coating to pair with the HRE wheels. In addition to the floor, aluminum was used for the firewall, transmission tunnel and radiator shroud. To slow the Charger down, it uses Brembo brakes with six-piston calipers up front and four-piston calipers in the rear. The suspension uses Penske adjustable coilovers while Michelin Pilot Sport 2 tires wrap 19x10-inch front wheels and 20x12-inch rear wheels. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.