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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

BMW M5 and FCA's 5-year plan | Autoblog Podcast #544

On this week's Autoblog Podcast, Associate Editor Reese Counts is joined by Green Editor John Beltz Snyder and Consumer Editor Jeremy Korzeniewski. We talk about driving the Subaru Ascent and BMW M5, and discuss FCA's five-year plan and the Audi Q8. As always, we help spend a listener's cash on a new car in the "Spend My Money" segment. Autoblog Podcast #544 Your browser does not support the audio element. 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 Cars we've been driving: 2019 Subaru Ascent and BMW M5 FCA's five-year plan Audi Q8 Spend my money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Podcasts Audi BMW Chrysler Dodge Subaru Car Buying Used Car Buying FCA subaru ascent

Subaru Impreza WRX, Dodge Charger police car from 'Baby Driver' are for sale

Fans of " Baby Driver," now is your chance to own some seriously cool bits of movie memorabilia. Allpro Subaru is currently selling two of the cars from the film. The first is one of the red Subaru Impreza WRXs that were used for some of the film's signature stunts, which made the red rally sedan the de facto hero car of the movie. There were a number of stunt cars used to represent the hero car, including a modified WRX and an STI with a WRX wing. This particular one, a 2006 model, is a little more interesting, as it was the one that was converted to rear-drive to make it easier to complete stunts with it. According to the description, it also has a turbocharger from a 2004 STI to make more power, which fits what stunt driver Jeremy Fry told us. The description reveals other interesting tidbits. The car does have a clean title and has 158,000 miles on it. Obviously some of those miles were a bit rough, and the description notes that the stunt driving has led to some cosmetic defects. The AutoCheck vehicle history report reveals more. Apparently this Impreza WRX led a rough life before filming, as it had four mild to moderate crashes reported. It also appears that it will need the Takata airbag replaced. But on the plus side, this car is a unique piece of car and film history, and its rear-drive layout should make it interesting to drive. On top of that, it also has a leather interior that appears to be in good shape. View 5 Photos You'd better have a healthy bank account before trying to buy this WRX. As of writing, the bidding has reached $40,300. If that's too pricey, though, Allpro Subaru has yet another car from the movie. It's a 2011 Dodge Charger police car in Atlanta, Ga. police livery, complete with a V8. It's also pretty thoroughly wrecked, though the description says that it is drivable. Based on the bullet holes in the windshield, the Charger appears to be the one used in the (mild spoiler alert) final showdown between Baby and Buddy. But because this car is much less famous and in far worse shape, it's also much cheaper. Bidding has only reached $3,000 at the time of writing. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2006 Subaru Impreza used in Baby Driver News Source: eBay / Allpro Subaru via JalopnikImage Credit: eBay / Allpro Subaru TV/Movies Dodge Subaru Auctions Police/Emergency Performance Sedan impreza wrx baby driver