2000 Dodge Grand Caravan Se Braun Entervan Full Automatic Wheelchair Conversion 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 may stay with FCA until 2020

We might get to see Sergio Marchionne and his vast array of sweaters in the auto industry for even longer than expected. The FCA CEO suggested last year that he would retire from the automaker when its current five-year plan was complete in 2018. Now, he has tentatively extended that point out to at least 2020. "I can do this for another five years if you push me, right? Beyond that, I ain't gonna do it, and I don't want to," he said to Automotive News. That would give Marchionne a 16-year career at the top from joining Fiat in 2004 to possibly leaving FCA in 2020. Although, take the CEO's statement with a grain of salt because he has made multiple statements about the timing for his retirement. In 2012, Marchionne said he would only remain in charge until 2015, which is, well, now. Those five years might also go quite quickly because Marchionne is a busy guy with the Ferrari IPO, the attempted merger with General Motors, implementing FCA's five-year plan, and many other projects. He's already considering the next CEO, though. "My purpose in life is to find the Kuniskises of the world, the Manleys, the Biglands, the Palmers," Marchionne said to Automotive News, referencing the heads at Dodge, Jeep, FCA North America, and the company's chief financial officer, respectively. "I told them, 'One of you is going to do what I do one day. I don't know who that is, but one of you is going to do it.'" News Source: Automotive News - sub. req.Image Credit: Paul Sancya / AP Photo Chrysler Dodge Fiat Jeep Sergio Marchionne FCA fca us Mike Manley reid bigland tim kuniskis

Chrysler says its 8-speed transmissions will save 700 million gallons

Chrysler Group's TorqueFlite eight-speed transmission could be earning some serious green bragging rights if the company's projections are correct. The recently widely proliferated automatic gearbox, which is now in more than a million vehicles around the world, is poised to save drivers an estimated 700+ million gallons of fuel over the vehicles' lifetimes (an expected cost savings of $2.5 billion). In addition, Chrysler expects a reduction in CO2 emissions by more than six million metric tons. According to Chrysler, and depending on the vehicle, the TorqueFlite can improve fuel economy. The TorqueFlite autobox features particularly close ratios from fifth to eighth gear (see the press release below for the specific numbers), and uses low-viscosity fluid that doesn't need to be replaced. Transmission software adapts to the driving situation to optimize efficiency based on driver behavior, temperature, grade, stability control, and longitudinal and lateral acceleration. The TorqueFlite is capable of handling a variety of duties. As evidenced by the wide range of vehicles Chrysler Group has seen fit to equip with the eight-speed transmission, the TorqueFlite is capable of handling a variety of duties. Since its 2012 introduction, the TorqueFlite has gone from performing cog-swapping duties in Dodge Charger and Chrysler 300 models equipped with the 3.6-liter Pentastar V6 to changing gears in vehicles such as the Pentastar- and Hemi-powered Dodge Durango, Jeep Grand Cherokee and even the Ram 1500 EcoDiesel. For the 2015 model year, the eight-speed is finding its way into even more vehicles with the addition of a third version. In addition to the American-made TorqueFlite 845RE and 8HP70, the new 8HP90 will be manufactured in Saarbrucken, Germany. The 8HP90 is designed for higher torque loads, making it ideal for high-performance vehicles like the 2015 Dodge Challenger SRT Hellcat. The already-in-use 8HP70 will expand its duties to be used in 2015 Hemi models such as the Dodge Charger, Challenger, and Challenger SRT8. You can see the list of those benchmarks in Chrysler's press release below.