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Stellantis won't race to split electric vehicles from fossil fuel cars

MILAN - Stellantis is not considering splitting its electric vehicle (EV) business from its legacy combustion engine operation, its finance chief said on Thursday, as the carmaker presented above-expectation revenue data for the first quarter. Chief Financial Officer Richard Palmer told analysts he did not see huge benefits in the kind of separations pursued by rivals such as France's Renault and U.S. Ford. "We need to manage the company and the assets we have through this transition," he said. "There are benefits to having the cash flow being generated by the internal combustion business for the investments we need to make." Palmer said the group, formed by a merger last year of Fiat Chrysler and Peugeot maker PSA, was not averse to considering adjusting its structure "but we aren't anticipating any big changes." Palmer's comments came after the world's fourth largest carmaker said its net revenue rose 12% to 41.5 billion euros ($44.1 billion) in the January-March period, as strong pricing and the type of vehicles sold helped offset the impact of the semiconductor shortage on volumes. That topped analyst expectations of 36.9 billion euros, according to a Reuters poll. Milan-listed shares were up 0.5% by 1415 GMT, in line with Italy's blue-chip index. The impact of the chip crunch was evident in the decline in shipment figures which fell 12% in the quarter to 1.374 million vehicles. It was a similar story for Germany's BMW which posted higher revenues on Thursday and a decline in car sales. Riding the Recovery Stellantis, whose brands also include Citroen, Jeep and Maserati, confirmed its 2022 forecasts for a double-digit adjusted operating income margin, after 11.8% last year, and a positive cash-flow despite supply and inflationary headwinds. Morgan Stanley analysts said after the results that Stellantis had better management than many peers and benefited from its significant exposure to a stronger U.S. economy and a European recovery from the COVID-19 pandemic. They also said it was less affected by a slowing Chinese economy. Palmer said it was important for the group to maintain double-digit margins and keep delivering positive cash flows. "A 12% increase in revenue with a 12% decrease in volumes indicates a very strong performance on price and mix, which augurs well for our margin performance," he said. He said semiconductor supply problems were expected to ease this year with continued improvements in 2023.

Next Chrysler Town & Country will have foot-operated rear doors

Families are still months away from actually seeing the next-gen Chrysler Town & Country debut at the 2016 Detroit Auto Show, but details are continuing to trickle out about the upcoming minivan. Among several features rumored in the latest leak, the sliding doors and rear hatch are reportedly optional with foot activation, according to Automotive News. It should make loading the van easier for owners with their hands full. The T&C's powertrain sees some efficiency improvements, too. Under the hood, expect an upgraded version of the 3.6-liter Pentastar V6 and the already rumored nine-speed automatic, according to Automotive News. For the all-wheel-drive version of the minivan, an electric motor would provide the propulsion at the rear axle. Inside, all of the passengers can arrive with their devices fully charged thanks to USB ports for each of the three rows. Plus, for owners who need to make room to haul, the Stow 'N Go seating is now easier to use, too. Like the latest Honda Odyssey, fastidious buyers might even spec an optional vacuum. Earlier spy shots of the van indicate the switch to a rotary gearshift and upgraded infotainment, as well. Following the Detroit debut, the T&C goes into production in Windsor, Ontario, in late February 2016, Automotive News reports. The plug-in hybrid version would come towards the end of the year possibly capable of 75 mpge.

2022 Chrysler 300 gains a little, loses a little

Like an old player who will do anything to keep playing the game, the Chrysler 300 returns in 2022 to limp through another round in the sales arena. No one will be surprised to find out Chrysler doesn't have much in mind for the sedan that still stands out for being unlike segment competitors. The Touring, Touring L, and S trims carry over, and they all stick with Uconnect 4C on an 8.4-inch touchscreen, not the upgraded Uconnect 5 infotainment introduced this year that even the fleet-only 2022 Voyager gets. They are also fitted with the new air filtration system going into every Chrysler product, which removes 95% of particulates from the air. Otherwise, the entry-level model goes untouched. The Touring L gets the $995 Sport Appearance Package as standard equipment next year, which gussies the four-door up with a performance front fascia in body color with Black Noise badges, black pockets in the headlights, LED fog lamps, black LED taillights, black chrome moldings and 20-inch Black Noise wheels instead of the standard 18-inchers in polished aluminum.  Next year's 300S makes the Popular Equipment Group standard equipment, an option that costs $3,495 on the 2021 model. This includes navigation, a dual-pane sunroof, and nine-speaker Alpine audio with a 506-watt amplifier, surround sound and a sub in the trunk.   The $1,995 Comfort Group hold steady on the options list next year, its 15 features increased with the addition of a new alarm system.  Chrysler's trimmed other options that were available on the current model year before the order books closed this month. Amethyst and Canyon Sunset exterior colors are gone, so too is the Driver Convenience Group and its universal garage door opener. Mopar Insiders says the only interior choices next year will be Black, and Black with Linen, which would mean the retirement of Black Smoke and Radar Red. Production for the 2021 models will continue until December at the latest. The 2022 sedans are expected on dealer lots early next year. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.