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2023 New York Auto Show Editors' Picks

The New York Auto Show has typically marked the end of the auto show season. That's arguable now that shows have been shuffling around, but if we stick with it, that means that show season wrapped up with a modest bang. While the number of reveals were a bit modest, some of them were some seriously big deals for the car industry. Some of them were also literally big. And these are the reveals that were our favorites. They range from updated classics to the latest EVs. Read on to see what topped the list. 2024 Jeep Wrangler 4xe View 22 Photos 5. 2024 Jeep Wrangler The 2024 Wrangler is impressive as mid-cycle updates go. It's both a reflection of the longevity of the Wrangler's product cycles (we get a redesign once a decade, almost on the dot) and the Ford Bronco toppling Jeep's once firm monopoly on soft-top off-roaders. The cheaper 4xe entry is a welcome addition, and the ongoing one-upmanship between Ford and Jeep will continue to serve enthusiasts who want the best of the best. This is why competition matters, folks. — Associate Editor Byron Hurd Genesis GV80 Coupe Concept View 9 Photos 3. (Tie) Genesis GV80 Coupe Concept Even though it was far from the most important vehicle at the show, the Genesis GV80 Coupe Concept weirdly stole NY for me. IÂ’ve been largely unimpressed or neutral on most SUV coupes, but now thereÂ’s finally one that I love. Genesis design in general has been on fire lately, and the fact that it can turn out a crossover coupe that actually looks good is more evidence of its excellence. The stunning interior with those orange-backed seats and sporty-looking orange accents everywhere probably wonÂ’t make it into production, but IÂ’d love to see Genesis really amp up the performance angle with the coupe version of the GV80. Oh, and please offer the conceptÂ’s orange paint in the production carÂ’s palette, too. — Road Test Editor Zac Palmer 2024 Hyundai Kona Electric View 21 Photos 3. (Tie) 2024 Hyundai Kona The Hyundai Kona has been a favorite mini-crossover of ours for a while, but it has had some foibles. Most notably, it's been almost too small in some areas. That's been fixed and then some with this new one. It also doesn't lose any of the funkiness that made the model so distinct in the first place, while also gaining some fun styling cues from its bigger siblings.

Fiat Chrysler CEO: No plans to sell brands to Chinese

DETROIT — Fiat Chrysler Automobiles (FCA) has no intention of breaking up the company or selling individual brands to China or other parties, the company's chief executive said on Monday at the Detroit Auto Show, adding that the group was counting on its coveted Jeep brand to drive future profits. "We're not going to break up anything," Chief Executive Sergio Marchionne said at a news conference at the Detroit Auto Show. "We have no intention of breaking it up and giving anything to the Chinese." Marchionne said the Jeep sport utility vehicle brand could help FCA double its net profit. FCA's portfolio also includes luxury Maseratis, sporty Alfa Romeos and tiny Fiats. FCA's share price has jumped more than 30 percent this year on a bullish outlook for the auto sector, Jeep growth expectations and speculation that Marchionne's final year at the helm could prompt strategic deals such as spinoffs, technology alliances and disposals. The popularity of the Jeep brand, which is targeting sales of 2 million vehicles this year, has prompted talk it could be spun off from the group, as happened with tractor maker CNH Industrial and supercar group Ferrari, or sold off. Rumors have resurfaced that Guangzhou Automobile Group might be interested in snapping up part of FCA. Marchionne said on Monday that while GAC has partnered to deliver Jeeps to the Chinese market and FCA is talking to the Chinese automaker about helping it enter the U.S. market, "none of these things are designed to impact on the independence of FCA." FCA has often been the subject of merger speculation, especially after its unsuccessful 2015 attempt to tie up with larger U.S. rival General Motors. Its share price jumped to record highs in August after reports of interest from China's Great Wall Motor Co and South Korea's Hyundai. Marchionne said while both Jeep and truck brand Ram are strong enough to exist on their own, "we need to talk about ... what will be left behind." Marchionne said he has recommended to the company's board that the automaker spin off Magneti Marelli, a maker of components for lighting, engines, electronics, suspension and exhausts, to shareholders by the end of 2018. Marchionne confirmed FCA's targets for 2017 and for 2018, including a plan to erase all debt and generate up to 5 billion euros ($6.14 billion) in net cash.

Stellantis moves to set up its own lending unit

Stellantis is buying Houston-based auto lender First Investors Financial Services Group to set up its own finance arm in the U.S., a move that should support sales and eventually boost profit. The only major traditional automaker in the U.S. without its own finance company agreed to pay $285 million to a group of investors led by Gallatin Point Capital and Jacobs Asset Management, according to a statement. The transaction is expected to close by year-end. Stellantis was formed via the merger between Fiat Chrysler and PSA Group early this year. Carlos Tavares, the PSA boss who became the combined company’s chief executive officer, called the deal to acquire First Investors a milestone that will increase earnings and enhance customer loyalty. “Direct ownership of a finance company in the U.S. is a white-space opportunity which will allow Stellantis to provide our customers and dealers a complete range of financing options,” Tavares said Wednesday in the statement.  Having an in-house finance company has helped rivals General Motors Co. and Ford Motor Co. pad profits, especially during the global semiconductor shortage that has limited production and crimped sales. GM bought subprime lender AmeriCredit Corp. in 2010 and renamed it GM Financial. The operation generated a $2.76 billion profit in the first half -- roughly a third of the companyÂ’s adjusted earnings before interest and taxes. Trouble for Santander? The First Investors acquisition could spell trouble for Chrysler Capital, the operation that Santander Consumer USA Holdings Inc. and Chrysler set up in 2013 before the U.S. automaker completed its merger with Fiat. In a statement, Santander Consumer said itÂ’s committed to supporting Stellantis through the term of their existing agreement and its transition. Santander Consumer will also have “ongoing conversations with Stellantis about long-term mutually beneficial opportunities beyond 2023,” the company said, adding that its consumer business remains strong and has “delivered solid results for our shareholders.” This, along with support from its parent company, will allow the lender to “pursue additional opportunities as they arise.” The lenderÂ’s U.S.-listed stock fell 1.5% in New York trading Wednesday after Bloomberg reported Stellantis was preparing to announce a new finance partner. Stellantis shares rose as much as 1.3% in Paris trading Thursday.