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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

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:

2018 Alfa Romeo Stelvio Quadrifoglio is the priciest Alfa you can buy

Alfa Romeo has finally announced pricing for its Stelvio Quadrifoglio high-performance crossover, and it's not cheap. The base price is $81,590, which makes it the most expensive car in the Alfa lineup. The next most expensive is the Giulia Quadrifoglio at $75,295. That's a difference of roughly $6,000. And you can make the Stelvio even more expensive by optioning in Sparco carbon fiber shell racing seats or carbon ceramic brakes. Alfa hasn't revealed pricing for those, but expect the brakes to cost the same $8,000 that they do on the Giulia Quadrifoglio. You do get a lot of car for the money, though. The Stelvio Quadrifoglio gets the same twin-turbocharged, Ferrari-built V6 as its Giulia counterpart, still making 505 horsepower and 443 pound-feet of torque. That will take the car to 60 mph from a standstill in 3.9 seconds and on to a top speed of 177 mph. The Stelvio Quadrifoglio is also the current SUV lap time record holder at the Nurburgring. If the price seems acceptable to you, you'll be able to pick one up early this year. Related Video: Featured Gallery 2018 Alfa Romeo Stelvio: LA 2016 View 11 Photos Image Credit: Drew Phillips Alfa Romeo Crossover SUV Performance alfa romeo stelvio quadrifoglio