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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 Classic reportedly getting budget-friendly off-road package for 2021

Ram confirmed the last-generation 1500, which wears the Classic nameplate, will return for 2021. Buyers will again have three trim levels to choose from, but the brand will reportedly add an off-road-oriented package to the range. Motorists who select the Warlock model (pictured) will soon be able to order a package named Warlock All-Terrain, according to Mopar Insiders. Assigned order code ASJ, it bundles all-terrain tires made by Yokahama, a full-size spare tire, 17-inch aluminum wheels painted flat black, plus front and rear all-weather floor mats. Ordering the All-Terrain package certainly doesn't transform the 1500 Classic into a TRX for off-roaders on a tight budget, but it will allow buyers to skip a trip to the nearest tire store after they take delivery. And, the Warlock is more capable off the beaten path than other variants of the 1500 Classic, because it receives heavy-duty rear shocks, a one-inch suspension lift, Rebel-like bumpers that increase its approach and departure angles, and tow hooks. Visually, it stands out with a black grille and cladding over the wheel arches, among other styling cues. Ram hasn't confirmed the report, and it hasn't outlined the changes it's making to the 1500 Classic for 2021. Pricing for the entry-level truck allegedly starts at $30,145 once a rather high $1,695 destination charge enters the equation, and the range-topping Warlock model costs $38,040 with the same charge factored in. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2020 Ram 2500 Power Wagon POV drive

Ram Truck's Gear Up! hunting series teaches you how to gut a deer

Ram knows that hunters and other outdoor enthusiasts make up a key demographic of its trucks' sales, so late last year it started an Internet hunting video series called Gear Up! on YouTube hosted by a variety of attractive ladies dressed in camouflage. (Ram knows its target audience, eh?).
This series has been going since October, but it caught our eye with a recent episode that gives instructions on how to properly gut (or dress) a deer. There are no graphic images, but Megan (this episode's host) does provide detailed and frank - if slightly surreal - deer-processing tips in a cheerful tone. For example: "Begin sliding your knife up the deer's belly towards its neck" and "sever the final tubes of the rectum." Oh, and this gem: "At this point, you'll need to get a little limber and actually stick your hand and knife up through the hole that is now visible leading into the deer's throat..."
Keep in mind, this is one of the advanced videos, so if you're really trying to learn how to hunt deer, you should start from the earlier, beginner-level videos in this Hunting 101 series. Scroll down if you'd like to learn how to clean a deer carcass Ram-style, and we've even included a few of the other how-to videos (including how to choose a taxidermist!) in this somewhat bizarre lifestyle marketing series.