1977 Jeep Cherokee Chief Sport 2 Door With 360 4 Barrel 4 Speed Warren Hubs on 2040-cars

Auto blog

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

Weekly Recap: Lamborghini fires on all cylinders

Lamborghini added 192 technicians and specialists in 2014 as the Italian automaker expands under the ambitious growth strategy of parent company Volkswagen AG. The additional workers helped Lamborghini increase its sales 19 percent last year to 2,530 supercars, and further expansion is planned for this year. Lambo has added more than 500 people in the last four years, bringing its headcount to 1,175. "Lamborghini is undergoing a strong phase of growth in both sales and in terms of recruitment," CEO Stephan Winkelmann said in a statement. "We invest significantly in our people ... in 2015 we plan to hire further." The supercar maker's solid performance last year came during a time of transition. Lambo sold off the final 265 Gallardos, which were the brand's best-selling models ever. Its 10-cylinder successor, the Huracan, immediately filled the void. It garnered 3,300 orders, and 1,137 of them were delivered in 2014. The other Lamborghini, the 12-cylinder Aventador, saw its sales increase 13 percent to 1,128 copies. The sales leap comes as Volkswagen drives sales expansion across its portfolio of brands. The German carmaker sold 10 million vehicles around the world for the first time last year. Though Lambo will never make supercars in great numbers, it is expected to contribute to VW's bottom line through its image and profitable sales. Look for further growth this year, and a Super Veloce version (shown above) of the Aventador has already been spotted during testing. Lamborghini has been working on a sport utility vehicle for years, though the company has never publicly approved the project. It also showed a hybrid, the Asterion, at last year's Paris Motor show, suggesting the automaker is considering an electric future. Other News and Notes GMC ponders Jeep Wrangler fighter GMC is considering adding a competitor to the Jeep Wrangler and has discussed the idea with its dealers, according to the Wall Street Journal. Details of the vehicle are unclear, but the report suggested the vehicle could have cues from General Motors' old Hummer brand. The move would broaden GMC's lineup of trucks and SUVs and attract new customers. GMC sold 501,853 vehicles in 2014, making it GM's second-best selling brand. GMC had more volume than Cadillac and Buick combined, though it's still well behind Chevrolet's tally of more than two million vehicles. The notion of a "Wrangler fighter" could be a moving target.

Jeep Cherokee sales rival Wrangler after two months

In our First Drive article on the 2014 Jeep Cherokee we said, "our informal and thoroughly unscientific opinion is they're going to sell tons of them. Why? Because it is very good." So far, it appears the public concurs. Of course, it's very early - the new compact utility has logged just one month of confirmed sales, but Larry Vellequette at Automotive News says dealers have told him that the second month of sales will be even better, a message that mirrors what we've heard from company execs.
In its first, severely truncated month on sale, the Cherokee sold 579 units. With all of November to play with, though, dealers moved 10,169 of them - compared to 11,753 Wranglers and 14,798 Grand Cherokees. That helped propel Jeep to a 30-percent year-on-year improvement for the month, Chrysler Group to a 16-percent improvement and the group's 44th consecutive month of sales growth, exceeding analyst expectations in posting its best November numbers since 2007.
If it can just keep replicating the its first month of sales, the finalist in North American Truck of the Year voting will smoke the trade done by the outgoing Liberty, which didn't break 7,900 units in a month in the last four years of its life (and normally didn't get close to even that). In March this year, Chrysler said it wants to build 250,000 Cherokees in its Toledo assembly plant for global sales. It's early yet, but with second-month sales quoted as being as "strong as death," the bookies might be resetting the odds.