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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

MotorWeek relives '80s coupes with Dodge Daytona, Ford Escort EXP

Get ready for a wave of nostalgia and the rapid realization of the huge progress in performance cars over the last 30 years. For its latest Retro Review, MotorWeek takes a look back at two, front-wheel drive coupes from the '80s that seem to have entirely vanished from the roads today. Both the 1986 Dodge Daytona CS and the 1986.5 Ford Escort EXP were considered affordable, sporty options in their day, but the passage of time hasn't been kind to either of their specs. The Daytona certainly looks the part of a performance machine with a body that's reminiscent of other '80s coupes, like the third-gen Chevrolet Camaro. However with 146 horsepower and 170 pound-feet of torque from a 2.2-liter turbocharged four-cylinder, acceleration wasn't exactly a strong suit. MotorWeek complained about copious torque steer, as well. The optional CS suspension upgrade package on this Daytona was apparently a nod to Carroll Shelby who was working with Dodge at the time. If anything, the Escort EXP withstands the test of time even worse. As a two-seat coupe, you might have expected Ford's engineers to really turn up the performance to fit the sporty image that the exterior conveyed. That didn't really happen, and depending on which model buyers ordered, they got either 86 horsepower with a 1.9-liter engine or the "high-output" version of that mill with 108 hp.

Dodge Challenger R/T Shaker and Mopar '14 Challenger up the retro appeal

The reborn Dodge Challenger might be getting a bit long in the tooth, having been on the market in its current form since 2008, but Chrysler isn't going to give up on its brutish, full-size two-door just yet. For this year's SEMA Show, the Challenger will be getting a new Mopar edition, as well as a retro-cool shaker hood on the 5.7-liter, Hemi-equipped R/T models.
As we mentioned last night, the Shaker Package will cost $2,500, but includes the Super Track Pak (new steering rack, brake linings, upgraded shocks and 20-inch Goodyear Eagle F1 Super Car tires), a $595 option on its own. The shaker hood result in a performance bump of any kind, but the blacked-out, pop-up scoop is a nifty feature that hasn't been seen on a production car since the Ford Mustang Mach 1 in the early 2000s.
The Mopar '14 Challenger (pictured right) follows the cues of previous Mopar Editions, which have included the 2010 Challenger, 2011 Charger, 2012 300 and 2013 Dart. Only 100 Mopar '14 Challengers will be produced, and they'll include the new shaker hood, Mopar's distinctive blue graphics and wheels, and whatever is pilfered from the accessory catalog.