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Stellantis won't race to split electric vehicles from fossil fuel cars

MILAN - Stellantis is not considering splitting its electric vehicle (EV) business from its legacy combustion engine operation, its finance chief said on Thursday, as the carmaker presented above-expectation revenue data for the first quarter. Chief Financial Officer Richard Palmer told analysts he did not see huge benefits in the kind of separations pursued by rivals such as France's Renault and U.S. Ford. "We need to manage the company and the assets we have through this transition," he said. "There are benefits to having the cash flow being generated by the internal combustion business for the investments we need to make." Palmer said the group, formed by a merger last year of Fiat Chrysler and Peugeot maker PSA, was not averse to considering adjusting its structure "but we aren't anticipating any big changes." Palmer's comments came after the world's fourth largest carmaker said its net revenue rose 12% to 41.5 billion euros ($44.1 billion) in the January-March period, as strong pricing and the type of vehicles sold helped offset the impact of the semiconductor shortage on volumes. That topped analyst expectations of 36.9 billion euros, according to a Reuters poll. Milan-listed shares were up 0.5% by 1415 GMT, in line with Italy's blue-chip index. The impact of the chip crunch was evident in the decline in shipment figures which fell 12% in the quarter to 1.374 million vehicles. It was a similar story for Germany's BMW which posted higher revenues on Thursday and a decline in car sales. Riding the Recovery Stellantis, whose brands also include Citroen, Jeep and Maserati, confirmed its 2022 forecasts for a double-digit adjusted operating income margin, after 11.8% last year, and a positive cash-flow despite supply and inflationary headwinds. Morgan Stanley analysts said after the results that Stellantis had better management than many peers and benefited from its significant exposure to a stronger U.S. economy and a European recovery from the COVID-19 pandemic. They also said it was less affected by a slowing Chinese economy. Palmer said it was important for the group to maintain double-digit margins and keep delivering positive cash flows. "A 12% increase in revenue with a 12% decrease in volumes indicates a very strong performance on price and mix, which augurs well for our margin performance," he said. He said semiconductor supply problems were expected to ease this year with continued improvements in 2023.

2015 Easter Jeep Safari Concepts First Drive

Imagine if once a year your grandmother made a chocolate cake. Not a chocolate cake, that chocolate cake. Blow-your-mind chocolate cake. But she won't ever let you have any – you can only have the spatula and whatever's left over in the mixing bowl. And you don't care. You look forward to that spatula and bowl every year because – "Gadzooks!" – that is some stupendous cake. For us, that cake is the Easter Jeep Safari. An annual pilgrimage to Moab, Utah for a taste of what Fiat-Chrysler's off-road brand has cooked up in its Design Dome. "No, you can't have any," the company tells us, "but you can taste it here, then dream about it until next Easter." In Detroit, Jeep gave us a close look at the seven concepts it built for this year's 49th annual event. Then it went a step further and took those show cars to Mill Canyon, UT, to crawl the red rocks in Jeep's natural habitat. After all, the company calls Moab, "Our home away from home." And it's not true that we never get more than a taste of Jeep's conceptual goodness – 2011's JK8 pickup conversion kit is a slice of Safari creation we can now take home, for instance, as are the hood decals that adorned two of the concepts we drove this year. Pietro Gorlier, President and CEO of Mopar, told us that the evolution of Jeep Performance Parts came from listening to journalists and customers in his first year on the job in 2010. So there's that. But still, we want more cake. Like a full-on production Wrangler Africa. These being one-of-a-kind prototypes traipsing through a canyon of nearly immovable objects, we didn't go fast, we didn't go far, we didn't push hard. But we did drive all the Easter Jeeps, and even just this small taste was outstanding. View 30 Photos Jeep Chief While we listened attentively to the detailed spiels on all this conceptual candy, one question ran through our minds: "How am I going to get in the Chief before everyone else?" And we could see the same thought every colleague's face, those scheming bastards. And why not? The Ocean Blue tribute to the venerable Cherokee of old grabbed everyone's attention since the first teaser images weeks before the event, in part because the vintage truck is up there with mermaids for rarity and lustworthiness. Anything that goes this far in obeisance to that classic Jeep is always going to score huge marks. The Chief is a four-door Wrangler underneath, but in many ways it feels nothing like a Wrangler.

2016 Jeep Renegade Dawn of Justice is a Superhero special [w/video]

The Jeep Renegade doesn't fit the usual image for the Batmobile, but it seems Bruce Wayne is willing to use what's around in a pinch. Thanks to the compact crossover's appearance for a scene in the upcoming Batman v Superman: Dawn of Justice movie, a new version now offers customers a blacked-out CUV that looks tailor made for the Dark Knight. Buyers can order the Renegade Dawn of Justice Special Edition in an exclusive shade called Carbon Black or a lighter Granite Crystal with a gloss black roof. To continue the dark look, Jeep fits shiny black trim and 18-inch wheels in the same color, and there's an emblem that blends Superman and Batman's logos. The shadowy appearance continues inside on the cloth seats and gloss trim, but metal diamond accents on the gearshift and door handles offer some contrast. The company bases the Dawn of Justice edition on the Latitude 4x4 trim with the 2.4-liter four-cylinder and nine-speed automatic. It comes standard with the Popular Equipment Group, which combines remote start, a power driver's seat, and dual-zone climate control. The Dawn of Justice Special Edition retails for $27,245 (after $995 destination) and is available now. Company spokesperson Todd Goyer tells Autoblog that Jeep expects production to be in the "low thousands." You can watch Ben Affleck as Bruce Wayne speeding around in a Renegade below in the ad for this superhero-themed version. The film hits theaters on March 25. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Video: FCA US LAUNCHES ONE-OF-A-KIND CO-BRANDED PARTNERSHIP WITH WARNER BROS. PICTURES' BATMAN V SUPERMAN: DAWN OF JUSTICE Jeep® and Dodge brands debut marketing campaigns as part of promotional partnership with Warner Bros. Pictures' highly anticipated Batman v Superman: Dawn of Justice, opening nationwide in theaters on March 25, 2016 Jeep brand introduces all-new 2016 Jeep Renegade Dawn of Justice Special Edition available now in dealerships across the country Jeep and Dodge brands to launch commercials using hero scenes from the film February 22, 2016 , Auburn Hills, Mich. - FCA US LLC and Warner Bros. Pictures are joining forces in a one-of-kind co-branded partnership to mark the premiere of the highly anticipated debut of Batman v Superman: Dawn of Justice (opening nationwide in theaters on March 25, 2016).