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Stellantis won't race to split electric vehicles from fossil fuel cars

MILAN - Stellantis is not considering splitting its electric vehicle (EV) business from its legacy combustion engine operation, its finance chief said on Thursday, as the carmaker presented above-expectation revenue data for the first quarter. Chief Financial Officer Richard Palmer told analysts he did not see huge benefits in the kind of separations pursued by rivals such as France's Renault and U.S. Ford. "We need to manage the company and the assets we have through this transition," he said. "There are benefits to having the cash flow being generated by the internal combustion business for the investments we need to make." Palmer said the group, formed by a merger last year of Fiat Chrysler and Peugeot maker PSA, was not averse to considering adjusting its structure "but we aren't anticipating any big changes." Palmer's comments came after the world's fourth largest carmaker said its net revenue rose 12% to 41.5 billion euros ($44.1 billion) in the January-March period, as strong pricing and the type of vehicles sold helped offset the impact of the semiconductor shortage on volumes. That topped analyst expectations of 36.9 billion euros, according to a Reuters poll. Milan-listed shares were up 0.5% by 1415 GMT, in line with Italy's blue-chip index. The impact of the chip crunch was evident in the decline in shipment figures which fell 12% in the quarter to 1.374 million vehicles. It was a similar story for Germany's BMW which posted higher revenues on Thursday and a decline in car sales. Riding the Recovery Stellantis, whose brands also include Citroen, Jeep and Maserati, confirmed its 2022 forecasts for a double-digit adjusted operating income margin, after 11.8% last year, and a positive cash-flow despite supply and inflationary headwinds. Morgan Stanley analysts said after the results that Stellantis had better management than many peers and benefited from its significant exposure to a stronger U.S. economy and a European recovery from the COVID-19 pandemic. They also said it was less affected by a slowing Chinese economy. Palmer said it was important for the group to maintain double-digit margins and keep delivering positive cash flows. "A 12% increase in revenue with a 12% decrease in volumes indicates a very strong performance on price and mix, which augurs well for our margin performance," he said. He said semiconductor supply problems were expected to ease this year with continued improvements in 2023.

Bid on the incredible George Barris Supervan in Scottsdale

Barrett-Jackson's upcoming Scottsdale, AZ, auction features the groovy Barris SuperVan, which came from the mind of car customizing legend George Barris. He even autographed the interior. Passengers enter the SuperVan through the hinged windshield, and once inside they can party in style thanks to the roof-mounted disco ball. However, occupants can't get too wild because the massive side windows don't leave much room for privacy. Barris built the van around a 1966 Dodge Tradesman A-100 with a three-speed manual gearbox and a 318-cubic-inch V8. Barris originally called the van the "The Love Machine," and it later had quite a Hollywood career. Its on-screen appearances included the '70s movie SuperVan, and a repainted version served as a Hill Valley Transit bus in Back to the Future II. After his passing at age 89 last year, Barris' creation might see a further boost in value. Barrett-Jackson doesn't offer a price estimate for the SuperVan, but we can't wait to see what this groovy vehicle sells for with no reserve. Collectors already valued Barris' work before his death. For example, his 1960s Batmobile, which was likely Barris' most famous creation, went for $4.62 million at a Barrett-Jackson auction in 2013. Related Video: Lot #1306 1966 DODGE TRADESMAN A-100 BARRIS CUSTOM SUPERVAN Auction Scottsdale 2016 Reserve NO RESERVE Status Available Price Request Bidder Info Lot 1306 Location Tent 7 B - 1 Year 1966 Make DODGE Model TRADESMAN A-100 Style BARRIS CUSTOM SUPERVAN *Includes Buyer Commission Details VIN 24653301 Exterior Color RED/BLUE/SILVER Interior Color RED/BLUE Cylinders 8 Engine Size 318 Transmission 3-SPEED MANUAL Description Lot #1306 - Originally designed by George Barris as "The Love Machine" and reincarnated by Barris for the movie "SuperVan." It was used for many movies and TV shows after that, such as the Hill Valley Transit bus in "Back to the Future II," "Sea Quest" and the 1970 movie "Solar Crisis." The van has been completely restored to its "SuperVan" look and has since been signed by George Barris. Manual transmission. Featured Gallery Barris SuperVan Auction News Source: Barrett-Jackson Dodge Auctions Minivan/Van Special and Limited Editions Classics george barris barris

Dodge Durango SRT, Ford F-150 Lightning and why we like physical controls | Autoblog Podcast #678

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by News Editor Joel Stocksdale. They start things off by discussing cars they've been driving, including the 2021 Dodge Durango SRT and the 2021 Toyota Camry Hybrid XSE. Next they discuss the announcement of the Ford F-150 Lightning electric truck, Genesis G70 Shooting Brake and the use of physical controls in cars instead of touchscreens. Finally, they help a reader spend some money. Autoblog Podcast #678 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2021 Dodge Durango SRT 2021 Toyota Camry XSE Hybrid News Ford F-150 Lightning EV announcement Genesis G70 Shooting Brake Opinion: Physical controls add to the driving experience Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Green Podcasts Dodge Ford Genesis Toyota Ford Lightning