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Macron and Le Pen decry 'shocking' Stellantis CEO pay

PARIS — French President Emmanuel Macron and his far-right challenger in the French presidential vote, Marine Le Pen, on Friday both decried as “shocking” the multimillion euro payout to the CEO of carmaker Stellantis. Stellantis CEO Carlos TavaresÂ’ remuneration package of 19.15 million euros just a year after the company was formed became an issue as Macron and Le Pen campaigned ahead of the April 24 runoff vote. Polls show purchasing power and inflation are a top voter concern. Stellantis was formed last year through the merger of PSA Peugeot and Fiat Chrysler Automobiles. Centrist President Emmanuel Macron, perceived by many voters as being too pro-business, called the pay package “astronomical” and pushed for a Europe-wide effort to set ceilings on “abusive” executive pay. “ItÂ’s shocking, itÂ’s excessive,” he said Friday on broadcaster France-Info. “People canÂ’t have problems with purchasing power, difficulties, the anguish theyÂ’re living with, and see these sums. Otherwise, society will explode.” Far-right leader Marine Le Pen, who enjoys support from many working-class voters, called for bringing in more workers as shareholders. “Of course itÂ’s shocking, and itÂ’s even more shocking when it is the CEOs who have pushed their society into difficulty,” she said Friday on BFM television. “One of the ways to diminish this pay, which is often out of proportion with economic life, is perhaps to allow workers in as shareholders.” Stellantis continued to back the package despite a 52.1% to 47.9% vote rejecting it at an annual shareholders' meeting chaired from the Netherlands, where the company is legally based, on Wednesday. The company, citing Dutch civil code, noted that the vote is advisory and not binding. The company later said in a statement that it took note of the vote, and will explain in an upcoming 2022 remuneration report “how this vote has been taken into account.” In the 2021 report, the company identified peer group companies that it used as a salary benchmark, including U.S. companies like Boeing, Exxon Mobile, General Electric as well as carmakers Ford and General Motors. Stellantis, whose brands include Peugeot, Fiat, Jeep, Opel and Maserati, reported net profits last year had tripled to 13.4 billion euros ($15.2 billion). The French government is the third-largest shareholder in Stellantis, with a 6.15% stake through the Bpifrance Participations S.A. French public investment bank.

Marchionne wants to nearly double Jeep sales by 2018

Jeep just keeps breaking its own sales records. A couple of weeks ago, the off-road brand announced its worldwide sales exceeded one million units for the first time, marking its third consecutive global record and the fifth straight year of sales increases here in the US. But FCA isn't about to stop there. TheDetroitBureau.com reports that chief executive Sergio Marchionne, speaking to the media at the Detroit Auto Show, has announced a new sales target for the Jeep division: By 2018, he wants to see Jeep sell 1.9 million units in a single year, nearly doubling its all-time record. The expansion will surely encompass new products, with the all-new Renegade just warming up, a next-generation Wrangler on the way and a reborn Grand Wagoneer in the pipeline, as well. But the focus of FCA's preparations to reach the new target is on production capacity. While it's not clear whether the Toledo, OH plant where half of all the Jeeps sold around the world are currently built will continue to host the next Wrangler, FCA is expanding production overseas. The Renegade is already being built alongside the Fiat 500X in Italy, where another 1,000 workers are being re-hired and where another factory is set to start producing Jeeps, as well. A Renegade-based variant for the South American market will soon be built in Brazil, and by the end of this year, Jeep aims to start local production in China.

Dream Cruising in three Jeep concept cars

Those of you that have attended the yearly Woodward Dream Cruise, know that the rolling car show is many things to many people. A chance to pull the Corvette out of the garage; a time to ogle rare models you've never yet seen in the metal; a weekend for drinking a cold one with friends and simply taking in the festivities. But for our roving editor Brandon Turkus, this year was a chance to cruise in some concept Jeeps that most people will never see, let alone drive. As Turkus aptly points out from the start, Woodward isn't exactly Moab. But wheeling the off-roaders is nevertheless an eye-opening experience; they may not be upcoming products, but these Jeeps tease out a lot we'd like to see from the brand in the future. You can find these mini Short Cut reviews above, and below, but here's a recap of what Turkus got to drive. Jeep Wrangler Staff Car Concept This one's a proper salute to the Jeep military service vehicles of yore. It's an open-air concept based on the four-door Wrangler, with tons of heritage design cues. It looks old, but we promise, it's totally new. It's got basic steel wheels, a stretched canvas roof, bench seats, a painted steel floor, a built-in cooler that accommodates up to 85 cans, and is painted in an iconic Sandstorm color. When the going gets tough, the Staff Car can handle it with aplomb, thanks to the Jeep Performance Parts two-inch lift kit, Fox shocks, Dana 44 axles, and the Wrangler's 3.6-liter V6. Jeep Chief Concept This Wrangler-based concept is an excellent tribute to the classic, fullsize Jeep Cherokee from the 1970s. It's painted in a vintage Ocean Blue color, with a white, "French Bread" roof. There's also a custom razor grille (something made famous on the original Wagoneer), removable sides, chrome bumpers, and classic-looking, 17-inch wheels. Inside, there's surfer-inspired pink, blue, and white cloth mixed with leather trim, with more fun details like a Rosewood front passenger grab handle and tiki-look shift handle. Of course, this thing looks to be truly capable off-road, too, with a two-inch lift kit, Fox shocks, Dana 44 axles at the front and rear, and a 3.6-liter Pentastar V6 underhood. Jeep Wrangler Africa A take on the Wrangler Unlimited, painted in Desert Tan, and powered by a 2.8-liter diesel engine. It looks killer, with 17-inch, body-colored steel wheels wrapped in 35-inch BF Goodrich Mud Terrain tires. There's a two-inch lift kit, Dana 44 axles, and Fox shocks.