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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

Dodge Challenger Shakedown: '71 body, new guts

While Jeep has created a number of vintage-bodied custom vehicles with modern components, this year's SEMA show plays host to Dodge's take on the idea. The Shakedown concept began life as a 1971 Challenger and ditched almost everything in it, including the engine and chassis. What's left is a modern car with a retro look. The chassis was a particularly complicated part of the job, since the Challenger was originally a unibody car. However, Dodge chose to separate the Challenger's iconic body from its structural parts, and moved it onto a custom, one-off chassis from which the body can be removed as needed. The chassis also carries lowered suspension, Challenger Hellcat brakes, and a 6.4-liter 392 Hemi V8 connected to a six-speed manual transmission from the Viper. Dodge also installed the engine using the new Hemi engine swap kit from Mopar. With the shaker cold-air intake and custom exhaust, the Shakedown's powerplant makes 485 horsepower. View 13 Photos The body itself received plenty of tweaking as well. Dodge shaved off the drip rails, door handles, and turn signals for a cleaner look, and also fitted the grille, headlights, and taillights from a 2017 Challenger. The whole thing is finished in matte black paint with a "vibrating" stripe offset on the left side. The Shakedown also gets 20-inch Slingshot rear wheels and a pair of custom 19-inch versions for the front. On each fender is a bright red "392" decal that uses the same font as the labels on classic Mopars 360 cubic-inch V8s. Inside, the Shakedown gets the same radical upgrade as the chassis. Two Viper seats accompany a Viper steering wheel, and the rear seats are gone altogether. The Viper gearbox is shifted with a Challenger Hellcat gear knob, and carbon-fiber accents and leather adorn the wheel, door panels, instrument panel and center console. Related Video: Image Credit: FCA, Joel Stocksdale SEMA Show Dodge Coupe Concept Cars Performance

New Viper 'is a possibility,' Sergio Marchionne says

It was thought the door to the future for the Dodge Viper had closed last year, but Fiat Chrysler CEO Sergio Marchionne reopened it during his press conference at the 2016 Detroit Auto Show. Marchionne said the current Viper is the only FCA product to use the ZD platform, which "doesn't make sense to me." Yet, "given the architectural development within the brand, there is a possibility that a new version of the Viper may surface." Automobile reports that the company uses a versatile, rear- and all-wheel drive Giorgio platform for Alfa Romeo and Dodge. It will support the Alfa Romeo Giulia (Alfa Romeo's larger BMW 5 Series competitor), the next-generation Dodge Challenger, Charger, and rumored Barracuda, and it could support a new generation of Viper. We're probably talking about a different kind of Viper, though, with Automobile saying, "the current car's truck-based V-10 no doubt would be scrapped along with its platform." A Viper without a V10 doesn't seem like a Viper to us, but we'll wait to see what happens. In the midst of contract negotiations for a new labor agreement between FCA and the United Auto Workers last year, it emerged that the Conner Avenue Assembly plant that builds the Viper hadn't been given any new product after the end of Viper build-out in 2017. That led most to reason that the current Viper would be the end of the 25-year run of America's hairiest sports car. How long we'll be waiting is unknown. Marchionne had no timetable and admitted that a future Viper might not appear on the heels of the current one. With a renewed commitment to being debt-free by 2018, FCA is likely more focused on getting Alfa Romeo running properly and cranking out the volume variants for the Giorgio platform first. Related Video: Featured Gallery 2014 SRT Viper GTS: Review View 36 Photos News Source: Automobile via World Car FansImage Credit: Copyright 2015 Drew Phillips / AOL Detroit Auto Show Dodge Coupe Performance Sergio Marchionne FCA conner avenue assembly plant