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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.

Ram shows off its 2019 Heavy Duty trucks in Laramie Longhorn trim

It may not be everyone's bag (baby), but Ram's high-end Laramie Longhorn trim level has proven quite successful for the truck maker. The Southwestern-themed kit has won the Luxury Pickup Truck of Texas award three years in a row, and you know how popular fullsize pickups are in the the great state of Texas. No surprise, then, that the truck is making its debut today at the Houston Auto Show just a week after other trim levels of Ram's 2019 2500 and 3500 Heavy Duty pickup truck line were displayed in Detroit. Like other 2019 Ram HDs, the Laramie Longhorn comes standard with a 6.4-liter gasoline-fueled Hemi V8 sending 410 horsepower and 429 pound-feet of torque through an 8-speed automatic. Two diesel engines are optional, both sourced from Cummins, both displacing 6.7 liters, and both mated up with 6-speed automatic transmissions. The first step up the diesel ladder nets the buyer 370 hp and 850 lb-ft. But the big dog is the High Output inline-six-cylinder diesel with 400 horsepower and a superlative-defying 1,000 lb-ft of torque at just 1,800 rpm. What sets the Laramie Longhorn apart from lesser models are its interior furnishings. It's heavy on full-grain leather, but now boasts a new alligator skin-embossed surface over the center console, instrument panel, seats and door-panel inserts. Warm-hued satin chrome and brushed nickel trim are unique to the Longhorn, as are barn-wood accent pieces. The interior color offerings include a two-tone brown and a black and tan package. Outside, the Laramie Longhorn offers optional RV Match Walnut Brown bumpers and flares for those who want a unified towing experience. Wheels measuring 20 inches in diameter are offered in various finishes, and the badges are inspired by large belt buckles. See for yourself in the image gallery up above. If you find the style appealing, prefer to travel with your vacation home in tow, and don't mind a starting price that's sure to approach $60,000 with the base V8, Ram promises its Heavy Duty haulers will ride better than their Ford or Chevy equivalents due to their five-link coil and air-bag supported suspension systems. Plus, with a max tow rating of 35,100 pounds courtesy of the the Cummins H.O. powertrain, Ram has bragging rights as the baddest truck in town... for now. Related Video:

Fiat Chrysler to get $105M fine from NHTSA for recall woes

The National Highway Traffic Safety Administration is about to send a powerful message to automakers doing business in the United States, assuming reports of an upcoming $105 million fine against Fiat Chrysler Automobiles comes to fruition. In addition to the record-setting monetary fine, according to The Wall Street Journal, FCA will have to accept an independent auditor that will monitor the company's recall and safety processes and will be forced to buy back certain recalled vehicles. In other cases, such as with Jeep Grand Cherokee and Liberty models with gas tanks that could potentially catch fire in certain types of accidents, FCA will offer financial encouragement for owners to get their recall work done or to trade those older vehicles in on new cars, according to the report. FCA could reportedly reduce its fines if it meets certain conditions, though those remain unclear at this time. These actions against FCA are being taken after NHTSA began a probe into the automaker over almost two dozen separate instances where the government claims FCA failed to follow proper procedures for recalls and safety defects. Included in those safety lapses are more than 11 million vehicles currently in customer hands. These penalties and fines are separate from the investigation over security problems with Chrysler's Uconnect system that allowed hackers to obtain remote access into key vehicle systems in 1.4 million vehicles. Related Video: Image Credit: Marco Bertorello/AFP/Getty Earnings/Financials Government/Legal Recalls Chrysler Dodge Fiat Jeep RAM Safety fiat chrysler automobiles fine