2013 Ram 1500 Sport on 2040-cars

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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.

Ram 1500 TRX thunders across the desert ahead of August 17 debut

Ram turned every head at the 2016 edition of the Texas State Fair when it introduced a 1500-based, Hellcat-powered concept named Rebel TRX. Nearly four years later, it's finally ready to unveil the production version of its burly truck, which will seemingly lose the Rebel designation while keeping the supercharged V8. Aimed directly at the Ford F-150 Raptor, the 1500 TRX — an acronym which stands for Tyrannosaurus Rex; get it? — will arrive as a high-performance truck that feels right at home speeding through the desert. Although the preview video released by Ram hides the truck's overall design, it's reasonable to assume it will receive a rugged look characterized by a model-specific front bumper that increases the approach angle, skid plates that protect the underbody, and massive tires tucked under fender flares. It will be bigger and meaner than the standard 1500. It will sound the part, too, thanks to a version of the supercharged, 6.2-liter Hellcat V8 engine found in several Dodge and Jeep models. Although the concept made 575 horsepower, insiders (and spy videos shot on the Silver Lake Sand Dunes) hinted the production model will put over 700 horses under the driver's right foot. Ram will introduce the 1500 TRX online on August 17 at noon Eastern time, which is 9 a.m. in Los Angeles. It will stream the event on its various social media outlets (including its Facebook account and its YouTube channel). Sales will start in the coming months, but pricing information hasn't been announced yet. We expect the TRX will be pegged in the same price bracket as the F-150 Raptor, which starts at $55,150 including destination. And, while Dodge will only manufacture the Hellcat-powered Durango for six months, we'd be surprised if the 1500 TRX lands as a limited-edition model. Odds are Ram plans to fill every order it receives. Related Video:     RAM Truck Performance

2022 Ram 1500 gets reworked options to maintain production

Ram was in the mood to giveth at this year's Chicago Auto Show, unveiling three new special edition trucks for the 2022 model year. Mopar Insiders reports Ram is lately in the mood to taketh away, removing or reworking options and features on nearly every trim with the aim of keeping pickup truck production lines running. The biggest blow to the bank account comes from Ram eliminating the Quad Cab on all but the two base trims, Tradesman and Big Horn (called the "Lone Star" in Texas). Seems most buyers on the Laramie and above go with the larger Crew Cab and aren't worried about spending a couple thousand dollars more; the Crew Cab on the Laramie, for instance, is $2,150 more than the Quad Cab. Truck shoppers watching pennies can forget about saving money up front in order to add certain luxuries, too. Come 2022, the smaller cab style can't be ordered with any kind of sunroof, air suspension, Technology Group, or Power Running Boards. When it comes to trims, starting at the bottom, the 2022 Tradesman won't offer an air suspension with any cab style, nor Ram Box storage, nor the multifunction Tailgate. If there's an EcoDiesel under the hood it will only be the HFE version, the standard EcoDiesel nixed on the Tradesman. The HFE variant makes one more mile per gallon in the city and on the highway than the standard EcoDiesel. The Big Horn/Lone Star loses its multifunction tailgate, and the colors Mountain Brown and Frost Beige. To get the rear underseat storage requires ordering either the Level 1 or Level 2 Equipment Groups, the storage can't be had an a standalone option. One step up, the Ram Rebel drops the luxury Rebel 12A package that added a 12-inch Uconnect screen with navigation, nine-speaker audio, and leather-trimmed bucket seats. The trimmed buckets seats will migrate to the Rebel Night Edition package that now costs $525, but can be expected to increase. And the cloth and vinyl bucket seats that now come in black with either red or silver accent stitching will come only in black and red. The Laramie, Limited Longhorn and Limited all shed the Protection Group that added underbody skid plates on the 4x4 models. The Laramie and Limited Longhorn will go almost entirely without any two-tone paint option, the exception being Ivory White and Walnut Brown solely for the Limited Longhorn. On the Laramie, as on the Tradesman, the rear underseat storage goes from being an individual option to part of a group, in this case the Level 1 Equipment Group.