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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

Ram 1500 custom trucks for SEMA go high and low

For SEMA, Mopar only created two in-house custom 2019 Ram 1500 trucks, and they're fairly mild in terms of modifications, many of which are existing Mopar accessories. But at the very least they show two extremely different ways to upgrade a Ram, with one being an off-road-oriented Ram Rebel, and the other being a lowered, street-oriented truck. The latter mod has become a bit unusual in a world dominated by Raptors and ZR2s. We'll start by talking about the street truck, which is the only one of the two with its own unique name: Low Down. Its defining characteristic: It sits two inches lower than a standard Ram 1500. This was done with a concept lowering kit that Mopar does not offer. Another part not yet available is the hood, which features an aggressive scoop. Finally, inside are some concept aluminum pedals. There aren't plans for any of these to come to production yet, but you can be sure Mopar will be paying attention to the public's reaction, and if things go well, they could show up at a dealer near you. The other defining feature of the Low Down is its paint scheme, which is black over silver, with a stripe separating them painted in the same Brass Monkey bronze hue available on some of FCA's wheels. The factory Ram wheels also get a custom paint scheme. Aside from the special parts and custom paint, almost everything else is right out of the Mopar catalog, including the fender flares, bed cover, spray-in bedliner, 5-inch exhaust tips and cold-air intake. The Mopar-customized Ram Rebel doesn't get a fancy name, but it still gets plenty of tweaks. It uses the factory Ram lift kit, so it sits two inches higher than a stock Rebel. It also features 35-inch tires. Up front, there's the concept hood found on the Low Down. At the back of the bed, there's a new flashy matte black decal that will be available for Ram Rebels in the near future. The bed also has an available "Rambar" sport bar, with some Mopar auxiliary lights. The bed has a spray-in bedliner and a concept spare tire carrier. Out the back are the same 5-inch exhaust tips as on the Low Down. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

New Winnebago Solis Pocket is the brand's smallest camper van

Winnebago, the brand whose iconic boxy motorhomes with the big "W" logo were a fixture at campgrounds back in the '70s, has since branched out into other RVs including camper vans. The company has just introduced its latest, the Solis Pocket, which is both its smallest and most affordable offering, but one that still packs a lot of features. As surfaced by Motor1, the Winnebago Solis Pocket is based on the Ram ProMaster van with a 136-inch wheelbase and is 17 feet 10 inches long. That makes it almost two feet shorter than the next-larger Solis 59P, which is based on the 159-inch-wheelbase ProMaster. The camper van is powered by a 3.6-liter V6 hooked to a six-speed automatic. That gives it a 3,500-pound towing capacity, and the van comes standard with a trailer hitch. At 113 inches tall and with a 6-foot 3-inch interior height, the Solis Pocket packs a lot into its small space. The camper van sleeps three, two in the drop-down Murphy bed at the rear of the rig and one in a two-seat dinette/sofa that converts to a small single bed. A kitchenette with a two-burner cooktop, a sink with a 20-gallon freshwater tank, and a mini-fridge are arranged on the passenger side of the van. A 3.2-gallon cassette toilet tucks under one of the dinette seats. The two front seats also swivel to face the interior. The price for the Solis Pocket is $95,736. Clearly, "least expensive" does not mean cheap. For reference, the Solis 59P starts at $107,821. If the whole #vanlife is starting to sound unattainable, maybe consider #trailerlife instead. Winnebago's camping trailers start at $22,172, and that roughly $73k cost differential would buy a pretty sweet tow rig. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.