1997 Jeep Grand Cherokee, No Reserve 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.

Chrysler registers Trackhawk trademark

There may not be many ways to forecast what an automaker is planning for the future, but there are some. Trademark applications are one of them, and Chrysler has just applied with the US Patent and Trademark Office to protect the name "Trackhawk." The question is, what's it planning on using it for? We don't know for sure, but we can put together an educated guess or two. And one guess is that Jeep will use the name to replace the letters SRT on the performance version of the Grand Cherokee.
How do we figure, you ask? From a number of developments. For starters, the SRT division has been reintegrated into the Dodge brand. Those letters currently appear on only two vehicles from outside the Dodge lineup: one is the Grand Cherokee SRT, and the other is the Chrysler 300 SRT. We've heard ruminations (however unconfirmed) that the latter could be either discontinued or possibly relabeled, and if the same proves true of the GC, the Trackhawk name could serve as a on-road performance counterpart to the Trailhawk label applied to off-road versions of models like the Cherokee and Renegade.
Logical it may be, but it's hardly a foregone conclusion. The Trackhawk name could just as easily be used for a new concept (like the Trailhawk name was in 2007), for another kind of trim level or for something else entirely. In fact we don't even know for sure it'll be used by the Jeep brand specifically, or used at all for that matter. Automakers have been known, after all, to register names they don't end up using.

Junkyard Gem: 1983 AM General postal Jeep DJ-5L

When neither snow nor rain nor gloom of night will stay you from your appointed rounds, you don't need fancy styling or futuristic technology. All you need is a simple steel box with four wheels, one seat (on the right-hand side), a mail-sorting tray, and an engine. The Jeep DJ was that vehicle, and DJs served as workhorses for the United States Postal Service starting in 1955 and — in some rural areas— into our current century. Here's one of the last ones made, found covered with snow in a Denver self-service wrecking yard. Related: Postal truck prototypes spied from Oshkosh and Karsan When American Motors bought Jeep in 1970, it built and sold DJs via its AM General subsidiary. The DJ-5 was a stripped-down, two-wheel-drive version of the pretty-spartan-to-start-with Jeep CJ, and there wasn't much to go wrong with it. The final year for the DJ-5 was 1984. During the AMC era, the DJ received an ever-shifting array of engines, depending on what looked like the best deal in Kenosha at a given time. Starting with the Chevrolet Nova straight-four, Jeep DJ engine compartments boasted AMC straight-sixes of 232- and 258-cubic-inch displacements, followed by Audi 2-liter straight-fours (yes, the same engine used by the Porsche 924), then the 2.5-liter GM Iron Duke four, and finally the 2.5-liter AMC straight-four. This DJ-5L has Duke power. The early DJs had manual transmissions, but all the AM General DJ-5s came with automatics. If you think an Iron Duke powering a Jeep is odd, consider that it's bolted to a Chrysler Torqueflite transmission. Once the USPS was done with them, cheap DJ-5s flooded the market. This one has had a random junkyard seat swap, but retains the handy mail-sorting tray. Featured Gallery Junked 1983 Jeep DJ-5L View 21 Photos Jeep Commercial Vehicles Classics amc mail truck