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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

Alfa Romeo Stelvio to get a new rear-drive base version

Good news for those who want an Alfa Romeo Stelvio but do not have the need for all-wheel drive: Alfa is reportedly introducing a cheaper, solely rear-drive version. It will still have plenty of power. Car & Driver is reporting that there will be a new, rear-wheel-drive base Stelvio for 2019, one that undercuts the current cheapest Q4 model by $2,000. That would mean a starting price of $41,440. However, the gap will widen slightly as the all-wheel-drive cars will see a price bump for 2019. The base model's only engine option will be the four-cylinder turbo, offering 280 horsepower and 306 lb-ft of torque. The transmission is the eight-speed automatic. C&D also says that the RWD versions will be kitted out more cheaply than AWD models, as a posher Ti version will always come standard with AWD. The new base models are likely to bear Q2 badging to differentiate them from the "quattro per quattro" Q4 models. And, if you're still willng to add a little something to the RWD Stelvio, there will be an available Sport package that offers 19-inch wheels and performance-oriented accessories such as aluminum pedals, painted brake calipers, paddle shifters and more. This does almost negate the price difference between the 2018 and 2019 base models, as it is said to cost $1,800.

Alfa Romeo 4C La Furiosa revealed by Lapo Elkann's Garage Italia

Visitors to the Dubai Motor Show who stopped by the Alfa Romeo stand were treated to this aesthetically modified 4C created by Garage Italia Customs. To make this particular example stand apart from an "ordinary" Alfa 4C, the customizers cloaked it in a velvet matte-finish red, similar to the original show car. The roof was left in exposed carbon fiber, fading into red, like the engine cover and brake calipers. The trim around the headlights, air vents, and side mirrors has been left in carbon fiber with a thin coat of candy red that leaves the weave exposed. The wheels are painted gold, and the interior is swathed in Alcantara. The creation was made for Alfa Romeo by the customizing firm started by Lapo Elkann. The eccentric brother of Fiat Chrysler chairman John Elkann is himself an heir to the Agnelli empire, and has played a variety of roles in the company - including brand promotion and the creation of the Gucci edition Cinquecento. Alongside fashion house Italia Independent, Lapo founded Garage Italia Customs to apply his unique sense of style and that of his team to models like the Fiat 500, Jeep Renegade, and Maserati Ghibli. Related Video: Milano, November 10th 2015 Garage Italia Customs in Dubai with Alfa Romeo 4C "La Furiosa" On the occasion of the 2015 Dubai International Motor Show, Garage Italia Customs presents a world premiere, La Furiosa, the 4C one-off created for Alfa Romeo. La Furiosa is the result of the meeting between the "Mechanics of Emotions" and the Style Center together with the Maestros of Garage Italia Customs. It is a unique model that combines the high level technical characteristics of this Alfa Romeo and the Tailor Made interventions of the Lapo Elkann team specialists. THE EXTERIORS The stage for the debut of this new creation by Carlo Borromeo - head of the Garage Italia Customs Style Centre – is the Alfa Romeo stand at the Dubai International Motor Show. Hence, La Furiosa is unveiled to the international press next to the Alfa Romeo 510 CV Giulia Quadrifoglio and the latest versions of the Alfa Romeo Giulietta Quadrifoglio, the Alfa Romeo 4C Coupe and the Alfa Romeo 4C Spider. The aim of the Garage is to create a car which emphasises the 4C wild style with a strong and extraordinary aesthetic impact. Special toned-down painting characterises the external livery.