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Autoblog Podcast #360

Episode #360 of the Autoblog podcast is here, and this week, Dan Roth and Jeff Ross discuss the 2015 Ford Mustang, reports of the latest plan to bring Alfa Romeo back to the US, Chevrolet leaving Europe and Holden closing down in Australia, and the price barrier that's holding down potential EV buyers. Dan also interviewed Jacques Brent, Ford's marketing manager for the 2015 Mustang and Sebastian Ruta and Joe Oh from Blipshift. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. You can follow along after the jump with our Q&A. Thanks for listening!
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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 prioritizing vehicle quality and customer satisfaction

Stellantis honcho Carlos Tavares has proved himself adroit at the turnaround. GM had lost money on its European Opel/Vauxhall unit for two decades before Tavares took the helm at Peugeot-Citroen (PSA) and bought GM's European arm. Tavares restored Opel/Vauxhall to profit in a year. Within 18 months of PSA's "merger" with Fiat-Chrysler being official, we're no longer hearing doomsday stories from some of the perpetually troubled marques under the new umbrella. All of the Italians — Alfa Romeo, Abarth, Fiat, Lancia, Maserati — say they're doing well, Alfa Romeo back in the black and planning a range that will be more accessible and more fun to own. Having established Tavares' mastery of the basics, we've yet to find out if he knows how to transform a brand, which is what all of the Italian automakers need. At Alfa Romeo, the North American heads told Automotive News that they're still establishing the foundations of a revolution. In doing so, the brand sounds more like the kind of premium automaker it's been aspiring to be since its return in 2008.  Vincent Noirbent, VP of Brand and Product Planning for Alfa Romeo on this continent, said the automaker's working a 10-year plan to place itself as Stellantis' global premium brand below Maserati's all-out luxury. We don't know how that's going to work with Lancia in Europe, but we don't get Lancia, so that potential clash is out of our jurisdiction. Autonews phrased Noirbent's message as, "Customer satisfaction and vehicle quality are arguably 'more important' to the brand than sales as it works to build momentum in the U.S." He also said it's more important to build a "sound business" built around the strengths of the brand and that doesn't rely on incentives. A Miami dealer described comments from Alfa Romeo North America boss Larry Dominque as wanting to "make the cars right first, make the [ownership] experience better, and build the value of the brand so somebody will pay an extra $100 a month." In an interview from Pebble Beach, Dominique said a luxury service experience and experiential marketing will also be involved. This will include "concierge services, pick-up and drop-off service for test drives," and when visiting a dealer, "it's the kind of thing where not only could you come in to see beautiful cars, but also do Italian cooking lessons and wine tastings." All the work will take time.