1948 Chrysler New Yorker In Great Original Condition on 2040-cars

Auto blog

Macron and Le Pen decry 'shocking' Stellantis CEO pay

PARIS — French President Emmanuel Macron and his far-right challenger in the French presidential vote, Marine Le Pen, on Friday both decried as “shocking” the multimillion euro payout to the CEO of carmaker Stellantis. Stellantis CEO Carlos TavaresÂ’ remuneration package of 19.15 million euros just a year after the company was formed became an issue as Macron and Le Pen campaigned ahead of the April 24 runoff vote. Polls show purchasing power and inflation are a top voter concern. Stellantis was formed last year through the merger of PSA Peugeot and Fiat Chrysler Automobiles. Centrist President Emmanuel Macron, perceived by many voters as being too pro-business, called the pay package “astronomical” and pushed for a Europe-wide effort to set ceilings on “abusive” executive pay. “ItÂ’s shocking, itÂ’s excessive,” he said Friday on broadcaster France-Info. “People canÂ’t have problems with purchasing power, difficulties, the anguish theyÂ’re living with, and see these sums. Otherwise, society will explode.” Far-right leader Marine Le Pen, who enjoys support from many working-class voters, called for bringing in more workers as shareholders. “Of course itÂ’s shocking, and itÂ’s even more shocking when it is the CEOs who have pushed their society into difficulty,” she said Friday on BFM television. “One of the ways to diminish this pay, which is often out of proportion with economic life, is perhaps to allow workers in as shareholders.” Stellantis continued to back the package despite a 52.1% to 47.9% vote rejecting it at an annual shareholders' meeting chaired from the Netherlands, where the company is legally based, on Wednesday. The company, citing Dutch civil code, noted that the vote is advisory and not binding. The company later said in a statement that it took note of the vote, and will explain in an upcoming 2022 remuneration report “how this vote has been taken into account.” In the 2021 report, the company identified peer group companies that it used as a salary benchmark, including U.S. companies like Boeing, Exxon Mobile, General Electric as well as carmakers Ford and General Motors. Stellantis, whose brands include Peugeot, Fiat, Jeep, Opel and Maserati, reported net profits last year had tripled to 13.4 billion euros ($15.2 billion). The French government is the third-largest shareholder in Stellantis, with a 6.15% stake through the Bpifrance Participations S.A. French public investment bank.

Marchionne: Midsize pickup still not in the cards; Ram 1500, Jeep Wrangler could use aluminum

During the Fiat-Chrysler briefings on Tuesday, Reid Bigland, head of Ram Trucks, outlined the new product plans for his brand, including confirmation that an all-new light-duty Ram 1500 will launch in 2017. From there, discussions spun off in two directions, with the main questions being: will Ram build a midsize pickup? And, following Ford's move to extensively use aluminum in its new 2015 F-150, will Chrysler be using this weight-saving material for the next round of its fullsize truck, as well?
"I think there is room for a Ram 1000," Fiat-Chrysler CEO Sergio Marchionne (pictured above) told members of the media, saying this is a conversation the automaker has been having internally for several years now. "We've tried this ... we've actually taken it to clinics," Marchionne stated, adding that the "response has been lukewarm."
"I have better use of aluminum in this house than a pickup truck." - Sergio Marchionne

Chrysler Recalls 350K Vehicles To Fix Ignition Switches

Chrysler is recalling nearly 350,000 cars and SUVs to fix ignition switches that could unexpectedly shut off the engines. The recall covers 2008 Jeep Commander and Grand Cherokee SUVs, Chrysler 300 and Dodge Charger sedans, and Dodge Magnum wagons. All were built before May 12, 2008. Chrysler says the ignitions may not fully return to the "on" position after being started. The switches could move to "accessory" or "off." That could shut off the engine and knock out power-assisted steering and other features. Chrysler knows of one crash and no injuries from the problem. It's telling people to use the key alone in the ignition and confirm that switches have returned to "on" after starting their cars. Chrysler is investigating the cause. Customers will be notified when repairs are ready. Related Gallery The Trucks And SUVs Consumers Are Liking Most View 11 Photos