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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.

A hybrid Jeep Wrangler could be in the cards for new generation

Jeep could make a hybrid version of its iconic off-roader, the Wrangler, the head of the Jeep brand suggested in an interview with Autoblog. Speaking this week on the floor of the Detroit Auto Show, Jeep's global chief Mike Manley said "the hybridization could actually help Wrangler," noting it could improve torque distribution, a critical element for four-wheel drive vehicles. Manley added, "Electrification, absolutely. I could see Wrangler being a form of electric." The Jeep boss didn't offer further details, though a hybrid Wrangler has been rumored for years. The next-generation off-roader is due for the 2018 model year, which means a reveal is imminent. Hybrid technology would likely be used to assist the Wrangler's performance and efficiency, rather than as a total fuel-economy play. The next-gen Wrangler is expected to have LED lights, updated and more aerodynamic design, and greater use of aluminum. A turbo four-cylinder gasoline engine, a diesel engine, and an eight-speed automatic transmission are also among the powertrain rumors, though the diesel may be in jeopardy after the EPA accused FCA US of installing emission-control software on its EcoDiesels. Despite the changes, this new Jeep will be instantly recognizable as a Wrangler, Manley told us. "It's the icon of our brand." View 30 Photos Also heartening for enthusiasts, the Wrangler is getting a pickup variant built alongside the utility vehicle in Toledo, OH. Manley wouldn't speculate on a name, though it has a long list of historic choices. Jeep used "Comanche" on a Cherokee-based pickup from 1986-92 and had the Gladiator/J-Series for a larger truck from 1963-87. "Of course we could go back to one of the record books [for a name]," Manley said. Meanwhile, Jeep also confirmed that the Wagoneer and Grand Wagoneer models will return to its lineup in 2020, slotting above the Grand Cherokee and giving Jeep an entry in the upper luxury SUV segment. Manley said the Wagoneers will compete in the $60,000-to-$100,000 price range. They will be based on a body-on-frame platform sourced from the Ram and built in Warren, MI. "Ever since I've been associated with Jeep, in my mind, they needed to come back to the portfolio," Manley said. Jeep's other spotlight vehicle, the Grand Cherokee, will get a new generation launching in 2019, Manley said. Though the current line has been on sale since 2010, Jeep has added interior updates and special variants to keep it fresh.

Chrysler Recalling Nearly 907,000 Cars, SUVs

Nearly 907,000 Chrysler, Dodge and Jeep SUVs and cars are being recalled for alternators that can fail and heated power mirror wiring that can short and cause minor fires. The recalls, posted Thursday by U.S. safety regulators, push the total number of recalls so far this year 544, totaling a record of more than 52 million vehicles. The largest of Thursday's recalls covers nearly 470,000 Jeep Grand Cherokees, Chrysler 300s, and Dodge Chargers, Challengers and Durangos from the 2011 through 2014 model years. The alternators can fail, causing the 3.6-liter V6 engines to stall unexpectedly. The problem also can cause the electrical system to fail, as well as knock out power-assisted steering, antilock brakes and electronic stability control. It can even cause fire or smoke, according to documents Chrysler filed with the U.S. National Highway Traffic Safety Administration. NHTSA opened an investigation into the problem in July, and Chrysler began its own probe in August. The company analyzed warranty complaints and alternators that had failed. The alternator generates electricity to recharge the battery and run other devices. Chrysler investigators traced the problem to heat fatigue in an alternator diode. Chrysler said it received 322 complaints about the problem, while 55 people complained to NHTSA. The company said it knows of one crash related to the problem, but no injuries or fires. The company will replace the alternators with upgraded versions for free. Owners will be notified in November. The company says customers who see warning lights or suspect a problem should contact their dealers. The recall affects cars and SUVs sold mainly in the U.S. and Canada, but some were sold in Mexico and overseas markets. The second recall covers almost 437,000 Jeep Wranglers from 2011 through 2013. Water can find its way into the heated power mirror wiring harness and cause corrosion. That can cause a short and could cause a minor fire and smoke, as well as cause loss of function of the mirror. The problem was discovered in February after three Wranglers in Canada were damaged. Chrysler says it has 26 complaints about the problem, but it knows of no fires, crashes or injuries. Dealers will move the wiring and install a protective shield to keep water out at no cost to owners, starting in December. Most of the Wranglers are in the U.S., Canada and Mexico, but more than 78,000 were sold overseas.