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China own a Detroit automaker? Would the U.S. let that happen?

The news that several Chinese automakers want to buy Fiat Chrysler Automobiles, and that one has even made an offer, elicits some mixed feelings. On one hand, as some have pointed out, it could be a win-win both for China and for FCA's American workers, ensuring the company's survival and opening new markets. On the other hand, this is China, whose trade relationship with the U.S. is the source of considerable scrutiny from the Trump administration — and whose not-a-friend, not-an-enemy status is particularly difficult to gauge right now during heightened tensions with its client state North Korea. So would such a deal pass regulatory muster? One reason that springs to mind for blocking any sale has to do with national security. Chrysler's role as a military supplier dates back to Dodge trucks used by Gen. Blackjack Pershing to chase Pancho Villa in Mexico, and shortly thereafter by American forces in World War I. The Detroit Three automakers were, of course, mainstays of the Arsenal of Democracy of World War II. Even before U.S. entry into the war in December 1941, America's industrial machinery went into overdrive, and Chrysler was one of the biggest cogs. It engineered and built the M3, Sherman and Pershing tanks and trucks for Gen. George Patton's Redball Express. It helped develop a radar-guided antiaircraft gun that knocked German bombers and V1 rockets out of the sky — on one day, shooting down 97 of 101 V1s headed for London. On D-Day, the radar system helped thwart Luftwaffe counterattacks on the beaches of Normandy, and it later helped Allied forces break out at the Battle of the Bulge. Chrysler redesigned the Wright Cyclone engines used by the Boeing B-29 Superfortress, the plane that firebombed Tokyo and dropped the atomic bombs that ended the war. Chrysler even played a secret role refining uranium in Oak Ridge, Tenn., that was used in the Hiroshima bomb and in the ensuing Cold War arms race. It worked on military missiles and was NASA's prime contractor for the Saturn V rocket that put men on the moon. More recently, Chrysler produced the M1 Abrams tank. And of course Chrysler is the keeper of the flame for Jeep, a 75-plus-years military legacy handed down from Bantam and Willys to Kaiser to AMC to Chrysler. The point of this history lesson is to note that in times of war or national emergency, America's industrial might has been called to serve, and may well be called on again.

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

Ford, Ram in heavy-duty towing spat

Every pickup truck commercial has the brand trying to convince us that its model is the biggest, brawniest vehicle on the block. But Ford and Ram appear ready to really throw down the gauntlet and scrap over the towing figures for their heavy-duty models, and it could potentially end up in court.
The issue revolves around what it means to be best in class. Ford claims that its 2015 F-450 (pictured above) has a max tow rating of 31,200 pounds, compared to 30,000 pounds for the Ram 3500 (right). However, both companies market these heavy haulers as having the top towing in their class. According to Automotive News, Ford is threatening legal action if Ram doesn't back down.
The situation isn't as simple as just comparing the numbers, though. First, the two companies calculate their towing capacities differently. Ram adheres to the SAE J2807 rating, while Ford uses its own internal system. Although, as the company introduces new models, they are certified using the SAE standard. "When an all-new F-Series Super Duty is introduced, it also will use SAE J2807," said Ford to Autoblog in an emailed statement.