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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.

Jeep Grand Cherokee Trackhawk undisguised with Hellcat power

Superchargers make everything better. Mount one to the top of a 6.2L Hemi V8 and pack it under the hood of a Jeep Grand Cherokee and you have a recipe for a completely bonkers, wholly unnecessary, and totally sweet SUV. We've known for a while that the so-called Trackhawk, essentially a Hellcat Jeep, is on its way. We now have photos of a completely undisguised test vehicle on public Michigan roads trying to make its way to SRT headquarters. Jeep already makes an SRT version of the Grand Cherokee. That version only puts out a measly 475 hp and 470 pound-feet of torque from a 6.4L Hemi. After developing a couple of 707-hp Dodges, SRT felt that Jeep needed some of that Hellcat love too. In the photos, we can see that, aside from the front fascia, the Trackhawk will look fairly similar to the standard SRT Grand Cherokee. The front retains the requisite Jeep grille, though it's been narrowed a bit to make room for larger air intakes below. The Hellcat engine creates a lot of heat, so designers needed to make sure the beast has plenty of room to breathe. New LED fog lights have been integrated into lower air ducts. We still don't know many of the Trackhawk's finer details, like the exact price or release date. We do know that Jeep claims a 3.5-second 0-60 time, making it both the quickest-accelerating Hellcat-powered vehicle and one of the quickest-accelerating vehicles in the world. For comparison, BMW claims the X5 M will do 0-60 in 4 seconds flat. Related Video: Featured Gallery Grand Cherokee Trackhawk View 9 Photos Spy Photos Jeep SUV

This American Life spends a week selling Jeeps in Long Island

So you think you know car dealers? Well, maybe you do, but This American Life spent a month at Town and Country Jeep Chrysler Doge Ram in Long Island to give us a behind-the-scenes look (or listen, since it's a radio program) at what it's like to be a car dealer.
Yes, there's a lot of swearing in thick New York accents, frustration, confusion, and generally it's a madhouse at the dealership. But that's understandable when the sales staff has to sell 129 vehicles in October in order to get an $85,000 manufacturer bonus - with several other Jeep dealerships within a 10-mile radius.
The episode, 129 Cars, is worth a listen, but make sure you have 71 minutes to spare if you want to get through it in one sitting. Head here for the unedited version or here for the bleeped version (which is 58 minutes long).