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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 caught testing under the cloak of darkness

With Americans still going crazy over compact SUVs and crossovers, the upcoming Alfa Romeo Stelvio is the Italian automaker's latest attempt at regaining its status as a household name in the US. Photographers managed to capture a prototype testing at night with very little camouflage to hide the SUV's overall design. These photos are the clearest ones we've seen of the upcoming SUV. The prototype's front end is extremely similar to the Giulia's with two oval-shaped outlets on the side of the fascia with a v-shaped grille in the center. The headlights, which are surrounded by black tape, also mimic the units found on the Giulia. The ruffles in the camouflage on the hood suggest that the Stelvio gets a pair of vents. The profile of the crossover is much more round than previous prototypes depicted with the overall shape mimicking the Jaguar F-Pace, but much smaller in size. The taillights, surprise, surprise, also resemble the same ones found on the Giulia. There's no way to know what type of engine is powering the Stelvio prototype, but the two tailpipes and skinny tires point toward something much more subdued than the twin-turbo 2.9-liter V6 that puts out 505 horsepower in the Giulia Quadrifoglio. We expect the production version of the crossover to get the same gasoline and diesel options as the Giulia, depending on where the vehicle is sold. The Stelvio – and this shouldn't come as a surprise to anyone – looks like a larger, taller Giulia. While the prototype looks ghastly with its camouflage, we expect, and hope, that the SUV will look a lot better at its debut, which could take place at next month's Los Angeles Motor Show. Related Video: Featured Gallery Alfa Romeo Stelvio Spy Photos Image Credit: KGP Photography Design/Style Spy Photos Alfa Romeo Crossover SUV alfa romeo stelvio

2021 Alfa Romeo Stelvio and Giulia get revamped trims and pricing

After a major interior and infotainment update last year, the 2021 Alfa Romeo Stelvio and Giulia get a more mild update consisting of a smaller trim lineup and a couple of extra features for some trims. The update also includes small price increases across the board. Four new colors are available, too, including Ocra GT Junior, Verde Montreal, Rosso GTA and Rosso Villa d'Este. The first two of those are shown in the galleries. Available trims have dropped from seven to four, with a couple of them simply becoming option packages for the remaining trims. The base trim is now called Sprint, a callback to Alfas of the past. Standard equipment for this trim is unchanged, including standard 10-way power adjustable leather seats, 8.8-inch touchscreen infotainment with Apple CarPlay and Android Auto, remote start, proximity key and automatic emergency braking. As such the price only increases by $50 to $40,745 for the Guilia and $42,745 for the Stelvio. All-wheel drive is a $2,000 option on all Giulias and the Stelvio Sprint. Higher trim Stelvios get all-wheel drive standard. 2021 Alfa Romeo Giulia Quadrifoglio View 14 Photos The Ti and Ti Sport get the most additional standard equipment over last year's versions. They now get dual-pane sunroofs, navigation and HD radio. The Ti Sport also picks up a standard limited-slip rear differential. The Giulia and Stelvio Ti increases in price by $1,300 to $43,995 and $48,395 respectively. The Giulia Ti Sport price goes up by $1,500 to $47,195 while the Stelvio Ti Sport sees a $2,000 increase to $51,595. The Quadrifoglio trim, with its twin-turbocharged V6 is unchanged for 2021. It does get a $250 price increase with the Giulia starting at $76,345 and the Stelvio at $82,345. Related Video: