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Fiat Chrysler dumped 40,000 unordered vehicles on dealers

In a move that echoes recent history, Fiat Chrysler has been making more cars and trucks than dealers in the U.S. are willing to accept, with Bloomberg reporting that at one point the automaker had built up a glut of around 40,000 unordered vehicles. That’s led some dealers to accuse FCA of reviving the dreaded “sales bank” accounting practice of obscuring inventory to improve the balance sheet. The company reportedly began building up its inventory of unordered cars this summer despite an industrywide slowdown in sales and an eagerness by some dealers to thin their inventories because rising interest rates are making it more expensive to hold unsold cars. The inventory build-up also coincided with Fiat ChryslerÂ’s efforts to find a merger partner, first with Renault, which fell through, then last monthÂ’s announcement that it will merge with FranceÂ’s PSA Group. FCA denies any such scheme and tells Bloomberg the rising inventory is down to a new predictive analytics system designed to better square supply with demand from dealers that is helping the company save money and narrow the numbers of unsold vehicles. The company recently agreed to pay a $40 million civil penalty to the U.S. Securities and Exchange Commission to settle a complaint that it paid dealers to report fake sales figures over a span of five years. While no one is suggesting that FCA is in dire financial straits — the company saw higher than expected earnings in the third quarter and record profits in North America — the practice has strong historical precedent by Chrysler, which built up bloated inventories in the run-up to its two federal bailouts, in 1980 and 2009. It was also common at GM and Ford during the 2000s, when all three Detroit automakers struggled with excess manufacturing capacity and plummeting sales in the lead-up to the Great Recession. Back in 2012, CFO Magazine wrote about a report that explained automakersÂ’ rationale for the practice and how it works: Say fixed costs for a given factory are $100, and that the factory can make 50 cars. Consumers, however, demand only 10. Under absorption costing, if the company makes all 50 cars, its cost-per-car is $2. If it makes only up to demand, or 10 cars, the cost-per-car is $10. Although each car adds variable costs for steel and other parts, if those costs are low, the company still has an incentive to make more cars to keep the cost-per-car down.

Ram 1500 EV shown in more clarity with new teaser images

Besides the first electric Jeep and other product plans, Stellantis gave us yet another preview of the upcoming electric Ram 1500 pickup truck. The company isn't giving much away, but these new renderings do give us some more details on what the truck will look like. The most striking features of the front are the pairs of LED lights above and below that meet toward the middle in a sort of dog bone shape. In the middle is the updated Ram logo that's been featured for its "Ram Revolution" program that takes input from Ram fans for designing the truck. The hood has creases that are suggestive of the dual-level, semi-truck-inspired design that has stuck with the truck since the 1990s. It also seems to have a heat-extractor vent design, which we're not sure would really be functional on an electric truck. Along the sides, the fenders appear to be pushed far outward. The edge where the cab meets the bed has a jog in it that pushes into the cab. It has us thinking the cab and bed may be one piece, along the lines of the Chevy Silverado EV. That single piece will still ride on a separate frame, though, since the Ram 1500 EV will be built on the STLA Frame platform. Continuing on the topic of side styling, the window sill rises toward the rear pillar, and that rear pillar leans forward, again more like the GM electric truck designs. At the back, the electric Ram has taillights that connect into the tailgate like the Ford F-150 Lightning. The shape also echoes that of the headlights, along with the illuminated Ram logo. The rear shot also gives more clarity on the unique cab design. The electric Ram will go into production in 2024. As touched on, it will use the STLA Frame platform that features a traditional separate frame from the body. The platform can accommodate 159 to 200 kWh of battery capacity with a range of up to 500 miles. Early renderings also show the platform using independent suspension both front and rear. Furthermore, Ram has said it will offer a plug-in hybrid variant based on the electric model to go on sale the same year. And electrification won't stop at the 1500.

Ram truck owner who stopped lawbreaking teen joyride gets truck repaired for free

Here is a story that should make you feel a little better about modern society. Bryson Rowley, the concerned man in Utah who put himself in danger to stop an out-of-control, joyriding teen, is getting his damaged pickup fixed free of charge.
It all occurred after a kid stole his grandfather's Hyundai Veloster. As part of a police chase, he went speeding through a park where children were playing and into a neighborhood. When it appeared that the pursuit was returning to the park, Rowley got into his Ram and drove into the little, white coupe instantly stopping it. However, after the collision, his truck needed a new front bumper.
People in the community have banded together to make sure that Rowley didn't have to pay for any repairs, according to Car Throttle. A company called Fusion Bumpers even shipped out a replacement to him. It's nice to see that people putting out a helping hand to repair the damage to his truck.