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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

Old Dodge vans are big in Japan

One of the great things about Japan and its car culture is that it plays host to some of the most unusual and unique vehicle trends in the world. Whether it's neon-clad Lamborghinis or luxury sedans with insane negative camber, the country always seems to have something new up its sleeve. One of the most surprising trends is track-ready, full-size Dodge vans called Dajibans, and the video above presents a great look at these absurd machines. This isn't the first time we've covered these racing Dodge vans, but it's a subculture too awesome not to merit a second look. For one thing, just as American fans of Japanese cars here like to use JDM (Japanese Domestic Market) parts on their cars, the owners of these Dodges like to use American parts. Many of the vans feature Little Tree air fresheners inside and even have Spectre air filters on the intakes. Who would've thought there would be a market for Autozone's bread and butter auto accessories? Plus, these vans get some other impressive mods. Notice that some vans that appear to have stock metal bumpers, but they're actually fiberglass replicas in the original shape and given a chrome-like paint job. The video's host, an Australian drift fanatic named Alexi who lives in Japan and runs website called Noriyaro.com, gets some great onboard footage, too. One of the vans he rides along in is powered by a generally stock 318 Dodge V8, and still has the original automatic transmission and column shifter. Impressively, the driver manages to manually shift it without grabbing the wrong gear, and even rev matches the shifts. Alexi explains that the driver can catch neutral in-between gears three and two, so there's a brief moment where he can blip the throttle. There's even more information in the video, and it's all fantastic fun to watch. If you decide you haven't seen enough of Dajibans, you can also check out our previous post on it, which is more polished and provides some history and context to the trend. Related Video: News Source: Noriyaro via YouTube Auto News Dodge Minivan/Van Performance Videos JDM trends

Thieves relieve Detroit-area Dodge dealer of $70,000 in SRT wheels

Okay Mopar fans, this won't be easy to read. A video, which has since been made private, popped up over on Reddit's Cars subreddit over the weekend and detailed the aftermath of a massive wheel heist at a metro Detroit dealership. Thieves broke into Sterling Heights Dodge and made off with at least $70,000 worth of wheels and tires. The thieves ignored the V6 models and instead targeted Hellcat, SRT392, Scat Pack, and R/T versions of the Charger and Challenger. The poor muscle cars were left sitting on blocks, with the voice behind the video saying the treatment led to underbody damage. We only counted 12 cars, but the person shooting the video said thieves targeted 14 vehicles. That works out to about $5,000 in wheels per vehicle. We've reached out to Sterling Heights Dodge general manager and the Sterling Heights Police Department for comments. We haven't heard back yet, but we'll be sure to update this post with any additional information. Oh, and if you're in metro Detroit and perusing Craigslist for a new set of alloys, we'd advise against buying Dodge wheels for the next few weeks. They might be hot. Related Video: