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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.

2022 Ram 1500 TRX MSRP up another $2,795

We're not sure if we should be more awed by how fast and how high the new batch of super performance trucks can jump, or that consumer prices are jumping just as fast and just as high. When we published our First Drive Review of the 2021 TRX at the end of November 2020, we wrote, "Another pitfall to Ram TRX ownership is the cost. Ram asks a minimum of $71,790 for the TRX (including a $1,695 destination charge)." When we published our review of the 2022 TRX six weeks ago, the base price had risen to $74,085 after destination (optioned out to $91,575). Considering what the world's been up to for the past 15 months, a $2,295 MSRP increase — a mere 3% — couldn't be considered banditry. But the P/L department at Stellantis is done playing nice. As Mopar Insiders discovered, the MSRP for the 2022 Ram 1500 TRX is $76,880, which is before a spendier destination fee of $1,795. Anyone who wants to own a TRX this year will need $78,675 before options.   It's almost comical that Ram advertises the hurt on its configurator. Click to build and price the 2021 TRX, the configurator shows $70,245 before destination. Change that 2021 to 2022, the configurator shows $76,780. There's a bit more sleight-of-hand during the build process, too, as Ram charges $100 for the sole solid color available, which is black, that sum added as an option even though its the least expensive paint choice possible. The two-tone paints cost at least $200, despite a few of them advertising a price of zero. The diabolical cherry on top is when you check the total after options and read the small print, which informs you, "Pricing provided may vary significantly between website and dealer as a result of supply chain constraints. Pricing shown is nonbinding and does not constitute an offer. Contact your dealer for updated vehicle pricing."  Admittedly, the TRX is only up 4% over the last base price we posted, and we don't expect the new price to deter buyers. We don't blame Ram, either; this is the cost of doing business, and a quick trip to Craigslist or eBay will illustrate that everyone is trying to do the same kind of business, getting every hand into every cookie jar. The Ram buyers who really have it bad are the ones after a 2022 Ram 1500 Laramie. That truck went up $7,180 bucks — a gut-punching 16.4% — to $50,845.

2019 Ram 1500 spy shots further hint at a trick tailgate for the Chicago Auto Show

It seems all but guaranteed that the 2019 Ram 1500 is going to get some kind of fancy tailgate for the 1500. The latest evidence comes from our spy shooters who just caught an extremely suspicious truck running around with the whole bed and tailgate area covered. Everything other than the bed is ours to see, so Ram is obviously trying to hide something out back. We reported this morning about some Twitter shenanigans between Ram and GMC during the Super Bowl last night. The back and forth between the two companies resulted in Ram hinting that we'll see something new at the Chicago Auto Show this Thursday. Here's the Tweet thread below: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. In dissecting these spy shots, there isn't a whole lot to tear apart. We've got a normal Ram 1500 with a secret or two in the rear. As we zoom into the small patch of white we see through the camouflage, the normal outline of a recessed handle is somewhat visible. It's hard to determine exactly what is under there, because the recessed area is black and doesn't define itself next to the black camouflage. We can say there might be a grab handle in the normal spot you'd find one. There seem to be countless forms for this tailgate to take shape in. Spy photos of a Ram over a year ago with a strange 60/40 split caught our eyes that would probably have the option of opening in a barn-door style. Fiat-Chrysler has experience with split tailgates with its foreign-market Fiat Toro pickup, plus the company filed a patent on split tailgates a few years ago. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. A split design is most likely, but if we let the speculative parts of our brains run amok, we could even see a swing-out style tailgate similar to the Honda Ridgeline as possible. A major benefit to Ridgeline's swinging tailgate is easy access to the bed itself, as well as the in-bed trunk. None of the competition has such a useful area under the bed. But it would be hard to see Ram introducing its own trunk, especially when it offers the RamBox bedside storage system. Still, speculation can run wild on this one. The nice part about this mystery is that we won't have to wait long for the solution, since Ram has indicated it'll be solved at the Chicago Auto Show. We'll be on the ground there to try out whatever new-fangled tailgate Ram has to offer. Related video: