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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

Ford, Chrysler and Mazda expand scope of Takata airbag recalls

The scope of the Takata airbag inflator recall is ballooning once again across the United States. Where Honda has elected to take its driver-side airbag campaign nationwide, Chrysler Group and Ford have now announced expanded regional actions to cover some passenger-side airbag inflators. Mazda is adding more regions, as well. For Chrysler Group, the campaign covers the inflators on 149,150 examples of the 2003-model-year Ram 1500, 2500 and 3500 pickups. The recall is limited to vehicles sold or ever registered in Alabama, Florida, Georgia, Hawaii, Louisiana, Mississippi, Texas and the territories of American Samoa, Guam, Puerto Rico, Saipan, and the Virgin Islands. The company will begin notifying affected customers on January 19. According to Chrysler's announcement of the action, the passenger side inflators in these trucks "are of a type that is not used in any of the other vehicles affected by Chrysler Group's regional field action." The automaker says that it's not aware of any actual failures or accidents in these pickups and even claims there are no "observed failures in laboratory testing of its airbag modules." The company is continuing to study the problem, though. Ford is taking a similar step by issuing a recall of inflators for 38,500 examples of the 2004-2005 Ranger and 2005-2006 Ford GT. The campaign only affects vehicles originally sold or ever registered in Florida, Hawaii, Puerto Rico and the US Virgin Islands. Certain zip codes of Georgia, Alabama, Mississippi, Louisiana, Texas, Guam, Saipan and American Samoa are also covered. There's already precedent for passenger-side airbags to be covered under the Takata inflator recall. When many automakers announced campaigns in June, BMW, Chrysler, Ford, Honda, Mazda, Nissan and Toyota all included that side in some of their repairs. Subaru subsequently did, as well. In addition, Mazda is expanding the scope of its recall to add Florida, Puerto Rico, Hawaii, Saipan, Guam, American Samoa, US Virgin Islands, Georgia, Alabama, Louisiana, Mississippi and Texas to the affected areas. The company estimates that it has a total of 86,773 vehicles in need of repair. Mazda is also teaming with Toyota to begin independent testing of the Takata inflators. Scroll down to read all of the automakers' announcements of these newly expanded recalls. Statement: Air-Bag Inflators December 3, 2014 , Auburn Hills, Mich.

2015 Dodge Viper GTC available in 25 million no-cost combos with 1 Of 1 bespoke program

What's the one thing no car can have too much of? Here's a hint – it's not power. It's not efficiency, either, or technology, or even safety. It's exclusivity. It's one reason Rolls-Royce has become a legend building absolutely bespoke motor vehicles, and it's the reason Dodge, of all companies, is offering a new GTC trim level for its Viper supercar. Now, you might be asking what's so special and exclusive about a trim level? Well, in the Viper GTC's case, it gives owners access to a catalog of 8,000 shades of paint for the exterior, 24,000 "hand-painted" custom stripe patterns, 10 different wheel options, 16 interior trims and no fewer than six aerodynamic packages. That results in 25 million different configurations for the 645-horsepower snake. Most shockingly, the customization choices come at no additional cost on the GTC model. And it's only the start. Ordering a GTC will enroll customers in a unique VIP program called Viper Concierge, which according to Dodge, "offers an exclusive point of contact throughout the custom Viper build process." In other words, buyers will be given the means to stay right on top of their car's production, through the 140-to-160-hour painting process, which itself will be fully documented with pictures and through a mobile-friendly website, to the actual construction of their GTC. The Concierge process will start with the ordering stage, which will include Dodge sending customers a paint chip showing the owner's custom choosing, which they can confirm or refuse. Shortly thereafter, Dodge will send buyers a 1:18-scale "speed-form" replica in their chosen custom colors, once again to confirm or deny the build. Once the buyer's color and option selection is locked-in, that car becomes a one-of-one Viper for that year – no other buyer will be permitted to build a Viper to the same specifications. The concierge service also grants access to the Viper Ambassador Owner's Portal, where orderers can track their car's build process, receive weekly updates and share their excitement with (jealous) friends and family. And once the car is complete, it will be fitted with a custom dash plaque identifying its bespoke provenance – the owner can choose to have their name put on the badge, the car's nickname, or whatever they wish (Dodge will also ship each Viper with a second blank plate to include if the original owner sells the car).