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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

2024 Alfa Romeo Giulia and Stelvio prices are a mixed bag

Something happened on the way to the end of 2024, and that happening has resulted in higher-than-expected prices for the 2024 Giula and 2024 Stelvio. When Alfa announced changes for both models in April, we were informed the new Giulia Competizione trim would start at $53,115 in rear-wheel-drive form, the Stelvio Competizione trim would start at $57,420 in obligatory all-wheel-drive form. A month later, Cars Direct got wind of price cuts thanks to Alfa Romeo wanting to give buyers even more reason to put money down on la dolce vita instead of a certain Bavarian. In that report, the entry-level Giula Sprint was going to start at $44,795 after destination, the Stelvio Sprint would start at $46,370. An an Alfa Romeo spokesperson even replied to Cars Direct with, "The reduction in pricing is a lifecycle direction for Stelvio and Giulia to enhance market competitiveness." Looking at the 2024 configurator, the Giulia Sprint improves its advantage before options, whereas the Competizione is $2,345 above expectations. Prices for the 2024 Giula range after the $1,595 destination charge are: Sprint: $44,670 Ti: $47,210 Veloce: $50,970 Competizione: $55,460 Quadrifoglio: $82,970 Quadrifoglio 100th Anniversary: $90,070 What's not included here are mandatory additional costs for the Competizione and both Quadrifoglio trims; they don't offer the free white exterior paint option that the Sprint, Ti, and Veloce do. So the above sums will go up by at least $500, the least expensive exterior color option, to as much as $2,200. As for the Giulia Sprint undercutting the BMW 330i, that only happens if you want a white Giulia on the stock 17-inch wheels. The 2024 330i starts at $45,495, which is $825 above the base Giulia. But the BMW comes on 18-inch wheels, the Giulia on 17-inchers, and stepping up a rim size on the Alfa Romeo costs $1,725. BMW also offers black paint as a free option, whereas going dark on the Giulia costs $660. The Giulia does come with 280 horsepower versus the BMW's 255, so there's that. At the very top, a Giulia Quadrifoglio asking $82,970 might be a tough ask against a BMW M3 asking $81,195, never mind a $90,070 Giulia Quadrifoglio 100th Anniversary. It's the same on the Stelvio side of the fence.

Alfa Romeo won't sully the GTA name by putting it on the Stelvio

Alfa Romeo began celebrating its 110th birthday by resurrecting the heritage-laced GTA nameplate on a track-happy evolution of the Giulia Quadrifoglio. Enthusiasts went wild when they heard the news, but the company warned it's not about to put the GTA name on every model it makes just to capitalize on its popularity. First launched in 1965, the GTA acronym has historically denoted a lighter version of an existing model developed with racing (or, at least, track use) in mind. The recently-unveiled Giulia GTA fits the bill; a Stelvio GTA wouldn't, according to the company. Executives thought long and hard about it and ultimately ruled it out. "GTA is an important name for Alfa Romeo. Frankly speaking, we had a meeting on a Stelvio GTA, but it's just not in line with customer expectations. It has to be the best possible [on the track]. On the Stelvio, we have a higher center of gravity [than on the Giulia], so it won't achieve the same goals," said Fabio Migliavacca, the company's product marketing boss, in a candid interview with British magazine Autocar. His comments suggest the 505-horsepower Quadrifoglio model is as hot as the Stelvio will get in the foreseeable future. There's no indication Alfa Romeo is planning to add a second sedan to its range — its next new model is widely believed to be a smaller crossover — so the GTA treatment will be limited to the Giulia (pictured). This could explain why demand for the car and its two-seater GTAm counterpart has been exceptionally high. The stripped-out, 540-horsepower sedans are limited to 500 numbered units combined worldwide. Alfa Romeo hasn't started taking orders yet, and it had the misfortune of unveiling the model mere days before the Italian government imposed an ongoing national coronavirus quarantine, but it has received more expressions of interest than it has build slots. Migliavacca revealed a majority of the enthusiasts the firm has heard from prefer the more hardcore GTAm over the slightly softer GTA. It's lighter, and consequently quicker around a track. "A lot of people are raising their hands and saying, 'I want to have one,' 'I want to have four,'" he said. "It's truly an amazing reaction considering the timing." Related Video: