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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.

Chrysler Recalling 870,000 SUVs For Brake Defect

Chrysler is recalling nearly 870,000 SUVs because corrosion may make the vehicles' brakes harder to use. Jeep Grand Cherokee and Dodge Durango SUVs from the 2011 through 2014 model years are involved. Chrysler says crimp joints in the brake boosters can corrode if they're exposed to water. If the water freezes, the boosters won't aid braking as they usually do. Chrysler began investigating after some customers said their brakes felt too firm when pressed down. The company knows of one accident, but no injuries, due to the defect. Dealers will install a shield to protect the boosters for free and replace boosters that aren't working properly. Chrysler has since changed the design to make the boosters more corrosion resistant. Chrysler will notify owners of the recall, which involves 867,795 vehicles. Related Gallery Safest Crossovers For The Budget-Conscious Family View 10 Photos Recalls Chrysler Dodge

Dodge PHEV due in 2022 expected to be the Hornet

A relatively new saga involving hornets in the Pacific Northwest begins with the adjective "murder" and gets worse from there. A relatively dated saga involving hornets in the automotive industry begins with the name "Dodge" and is — or could be — much friendlier to plant and animal life. Last year, former Dodge parent company Fiat Chrysler trademarked the term "Dodge Hornet" for the first time. Two months ago, an Italian publication credited its sources with news that current parent company Stellantis will create a Dodge version of the Alfa Romeo Tonale (pictured) and call it the Hornet. Now, Mopar Insiders picked up on Stellantis CEO Carlos Tavares sharing a roadmap of the 20 PHEV and battery-electric vehicles coming our way in the next two years between the company's 14 brands. Dodge merits a single PHEV entry in the 2022 column. MI says this will be the Hornet.      As FCA recast its U.S. lineups to give Dodge more focus and give Chrysler a reason to exist, Dodge lost the Caliber, Nitro, and Journey. The way this new report is put, and as we mused a year ago, the coming Hornet will replace the Journey — a space Dodge could do well to return to. Never given much love by the parent company, the Journey turned into a hoary old thing over its 13 years on the market, but sold in remarkable numbers to the end. According to Car Sales Base, sales increased nearly every year for the first nine years of the Journey's life. Even during the sales decline over the last four years of its production life, the Journey found 298,594 homes in the U.S. More than 12,000 zombie units have been moved off lots this year. A Dodge Hornet likely wouldn't offer the Wal-Mart rollback pricing the Journey was known for. Also, the Hornet would pack in just two rows, whereas the Journey offered three. Nevertheless, we're now talking about three vehicles sharing major internal organs; the Alfa Romeo Tonale leans heavily on the Jeep Compass platform and internals, and the Dodge is expected to be built at the same Naples, Italy plant as the Alfa Romeo. The economies of scale are there. As for powertrain, we know there's a Tonale PHEV coming, but it's thought to get its plug-in system from the Jeep Renegade 4xe that's based around the smaller 1.3-liter four-cylinder with either 190 or 240 total horsepower instead of the larger 2.0-liter engine in the Wrangler 4xe.