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Stellantis sees vehicle loan durations extended amid banking turmoil

Stellantis is seeing clients seeking longer-term financing and leasing deals for their vehicles as a consequence of higher global interest rates, the carmaker's head for the business said. Chief Affiliates Officer Philippe de Rovira said loans which normally had a three-year maturity were now increasingly moved to four years. "This allows customers to get a car for a monthly instalment that is similar to that they had before," he said. The world's third largest carmaker by sales on Tuesday announced it had completed a plan announced in late 2021 to reshuffle and simplify its leasing and financing operations in Europe. Under its terms, Stellantis created a 50-50 single long term multi-brand leasing company named Leasys with Credit Agricole Consumer Finance. It also set up local joint ventures in European countries for its new Stellantis Financial Services unit, formerly Banque PSA Finance, with BNP Paribas Personal Finance and Santander Consumer Finance. "These banks have always had better funding conditions than those we can have as an automaker," de Rovira said. Benefits of the plan included cutting the number of financing and leasing entities the group runs in each country and the number of IT systems it uses, with expected savings exceeding 30% in this particular area, he added. De Rovira said the group had a huge portfolio of orders it had not yet delivered due to supply chain shortages impacting production. "Demand is not our main issue. The issue is to deliver as fast as we can cars that are in our order portfolio, which is still at record levels," he said. The group aims to expand its corporate leased vehicle fleet to more than one million units in 2026 and to double net income from its so-called banking activities to 5.8 billion euros ($6.3 billion) by 2030. De Rovira said Stellantis was not seeing a downward trend in vehicle pricing. "Probably the significant price increases we have seen in 2021 and 2022 will not be repeated because the context is changing, but for the moment we don't see decreases, we see stabilisation". ($1 = 0.9188 euros) (Reporting by Giulio Piovaccari and Gilles Guillaume; Editing by Jan Harvey) Earnings/Financials Plants/Manufacturing Alfa Romeo Chrysler Dodge Jeep RAM

2015 Ram 1500 Rebel drops the crosshairs, muscles in with new snout

Emboldened by record sale and increasing market share, Ram continues to spin off derivatives of its fullsize pickup. Bowing at today's Detroit Auto Show, the 10th model based on Ram's 1500 series is the new-for-2015 Rebel, and it's designed to capture the affections of that exceedingly popular marketer's bogey, the "active lifestyle enthusiast." Ram officials figure they've already got the hunt/fish/camp crowd all sewn up with the 1500 Outdoorsman, so the Rebel's imposing snout strikes out in a different direction in search of extreme-sports types – namely customers with dirt bikes, side-by-sides, jet-skis and other powersports toys. If that has you envisioning the Rebel as a rival to the Ford F-150 SVT Raptor, think again – "It's not an extreme, desert-racer off-road type product," says Ram boss Bob Hegbloom. If you're seeking an analog from another automaker, look to the Toyota Tundra TRD Pro and we think you'll be in the ballpark. The Rebel's most distinctive styling element has to be its radical new grain-finish grille, which does away with Ram's longstanding crosshair motif in favor of an interlocking design that intentionally won't be for everyone. There are lighting changes, too, with black-bucket headlamps featuring LED accents and matching LED foglights. A non-functional twin-snorkel sport hood, tonneau cover with stamped logo, blacked-out taillamps and unique badges are other model telltales. The Rebel (where have we heard that name before?) makes good use of Ram's air suspension system as an easy way to raise the ride height by an inch, which in turn affords inch-longer suspension travel and lends the truck a more formidable stance while helping clear the 33-inch (LT285/70R17E) Toyo Open Country A/T tires. Flares swiped from the 2500 Power Wagon keep the wider rubber mounted on Rebel-exclusive 17-inch wheels nicely – and legally – tucked in. Further off-road-minded modifications include a close-cropped steel front bumper that offers an improved arrival angle as well as 360-degree tow hooks and replaceable center skid plate. Out back, dual exhausts tuck up into the bumper and out of harm's way, but you might be too busy staring at the billboard-sized RAM tailgate lettering to notice. Ram officials assure us the Rebel's suspension has been recalibrated to cope with the higher ride height and better off-road ability (mostly through the inclusion of Bilstein monotube shocks, a softer rear anti-roll bar and reworked jounce bumpers).

FCA recalls over 200k Jeep Cherokees for windshield wiper static

Fiat Chrysler Automobiles is issuing a recall for over 200,000 versions of the 2014 Jeep Cherokee due to a problem with static buildup disabling the windshield wipers. FCA has identified 158,671 units in the United States. Another 18,366 vehicles are estimated to be affected in Canada, a further 3,582 in Mexico, and 26,049 outside of North America. The problem, according to the first statement below, results from static building up if the wipers are operated in dry conditions. The static could mess with the wipers' control module, rendering them disabled. To fix the problem, dealers will be instructed to install a ground strap to the module. In parallel, FCA is also offering incentives to the owners of certain trucks that were subject to recall but for which remedies were not immediately available. To encourage those owners to bring their older vehicles in for the required service, the automaker will disperse $100 prepaid cards for use at their discretion. The program is offered to owners of certain model year Jeep Grand Cherokee, Jeep Liberty, Chrysler Aspen, and Dodge Durango sport-utility vehicles, as well as certain Dodge Dakota and Ram trucks. Owners of the affected Grand Cherokees will have the option instead to take a $1,000 consideration toward the purchase of a new vehicle or for parts and service. The offers are only being extended under certain specific criteria, though. So if you think that could be you, you'll want to read through the conditions in the second announcement below. STATEMENT: CONTROL MODULE August 31, 2015 , Auburn Hills, Mich. - FCA US LLC is recalling an estimated 158,671 SUVs in the U.S. to help protect their control modules from static buildup that may potentially disable the vehicles' windshield wipers. An investigation by FCA US discovered static buildup may occur if the vehicles' windshield wipers are activated during dry conditions. Significant static buildup may affect a control module that powers the wipers. The Company is unaware of any related injuries or accidents. Affected are model-year 2014 Jeep Cherokee SUVs. An estimated 18,366 vehicles will be recalled in Canada, as will an estimated 3,582 in Mexico and 26,049 outside the NAFTA region. Dealers will install a ground strap to the control module to eliminate the potential for static buildup. Customers will be advised when they may schedule service, which will be performed at no cost.