2006 Dodge Ram 2500 Slt Cummins Diesel on 2040-cars

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Stellantis moves to set up its own lending unit

Stellantis is buying Houston-based auto lender First Investors Financial Services Group to set up its own finance arm in the U.S., a move that should support sales and eventually boost profit. The only major traditional automaker in the U.S. without its own finance company agreed to pay $285 million to a group of investors led by Gallatin Point Capital and Jacobs Asset Management, according to a statement. The transaction is expected to close by year-end. Stellantis was formed via the merger between Fiat Chrysler and PSA Group early this year. Carlos Tavares, the PSA boss who became the combined company’s chief executive officer, called the deal to acquire First Investors a milestone that will increase earnings and enhance customer loyalty. “Direct ownership of a finance company in the U.S. is a white-space opportunity which will allow Stellantis to provide our customers and dealers a complete range of financing options,” Tavares said Wednesday in the statement.  Having an in-house finance company has helped rivals General Motors Co. and Ford Motor Co. pad profits, especially during the global semiconductor shortage that has limited production and crimped sales. GM bought subprime lender AmeriCredit Corp. in 2010 and renamed it GM Financial. The operation generated a $2.76 billion profit in the first half -- roughly a third of the companyÂ’s adjusted earnings before interest and taxes. Trouble for Santander? The First Investors acquisition could spell trouble for Chrysler Capital, the operation that Santander Consumer USA Holdings Inc. and Chrysler set up in 2013 before the U.S. automaker completed its merger with Fiat. In a statement, Santander Consumer said itÂ’s committed to supporting Stellantis through the term of their existing agreement and its transition. Santander Consumer will also have “ongoing conversations with Stellantis about long-term mutually beneficial opportunities beyond 2023,” the company said, adding that its consumer business remains strong and has “delivered solid results for our shareholders.” This, along with support from its parent company, will allow the lender to “pursue additional opportunities as they arise.” The lenderÂ’s U.S.-listed stock fell 1.5% in New York trading Wednesday after Bloomberg reported Stellantis was preparing to announce a new finance partner. Stellantis shares rose as much as 1.3% in Paris trading Thursday.

2018 Dodge Demon comes with a factory tune for race gas

We knew the Dodge Demon was going to make a lot of power, but the ongoing question has been how much. We've seen estimates of between 757 and 1,121, but those have simply been guesses based on the numbers found in promo photos. However, if we had to put our bets on a horsepower rating, we'll probably go with the higher estimates because the Demon can run on race gas. Yes, the latest teaser for the Demon reveals that it will come with a factory tune optimized for race gas, which is rated at 100 octane or higher. Running such high octane, in combination with its heavy-duty intake cooling, means the Demon can handle absurd amounts of boost and advanced timing without running the risk of dangerous pre-ignition or detonation. Of course this also means the Demon should be capable of astonishing power with the high-octane calibration. The tune will be included in the Demon crate on a separate engine computer that the owner can swap out when he or she is ready to race. In addition to the computer, the center stack also has a button to activate the high-octane mode. A pair of fuel pumps and larger injectors also ensure the engine gets plenty of that sweet racing fuel. When not running the high-octane tune, the Demon runs on your average premium gasoline. Also, in case you accidentally run premium gas with the high-octane mode activated, the car will automatically switch to the default tune if engine knock is detected. You can get a peek at the system in the video above, and be on the lookout for a bonus video tomorrow. The full reveal will be next week on April 11 at the New York auto show. Related Video:

Bentley Continental GT V8 and Toyota 4Runner | Autoblog Podcast #604

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Consumer Editor Jeremy Korzeniewski and Senior Editor, Green, John Beltz Snyder. First, they talk about driving the 2020 Bentley Continental GT V8 First Edition, followed by the 2020 Toyota 4Runner TRD Off-Road. Then they revive a format called "This or That," discussing the Jeep Wrangler vs. Gladiator, Subaru Forester vs. Outback, Mustang vs. Camaro vs. Challenger, and whether they'd rather spend $25,000 on a new or vintage car. They've got an update on a previous Spend My Money segment, and, finally, they help another listener pick a daily driver. Autoblog Podcast #604 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 2020 Bentley Continental GT V8 2020 Toyota 4Runner This or That: Jeep Gladiator or Jeep Wrangler Subaru Forester or Subaru Outback Ford Mustang, Chevy Camaro or Dodge Challenger Vintage car or new car Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Podcasts Bentley Chevrolet Dodge Jeep Subaru Toyota Truck Coupe SUV Luxury Off-Road Vehicles Performance Classics