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FCA spends $1.5 billion to retool plant for Ram production

Fiat Chrysler Automobiles (FCA) is planning to invest $1.48 billion to retool its Sterling Heights Assembly plant in metro Detroit to build the next generation of the Ram 1500. The investment will allow the assembly plant to go from unibody to body-on-frame construction. FCA also confirmed that production of the Chrysler 200 will end in December in order for the plant to be altered. As previously reported, FCA is looking to move production of the 1500 from its current assembly plant in Warren to the Sterling Heights Assembly plant (both are in Michigan). While FCA has not released any official plans for the Warren Truck Assembly Plant, Automotive News reports that the plant will be retooled to manufacture the Jeep Wagoneer and Grand Wagoneer SUVs. Earlier this month, FCA announced plans to invest $1.05 billion to retool the Jeep Wrangler factory. FCA's current investment plans are part of the automaker's push to put competitive products on the road. Related Video: News Source: FCA, Automotive NewsImage Credit: FCA Plants/Manufacturing Chrysler Jeep RAM SUV Sedan

Auto critic calls out Corvette, Mustang and Cherokee faithful

Most automotive purists fear change, but not without reason. Change, after all, did kill big-block V8s, along with most station wagons and manual transmissions. But change has also brought with it far more performance, safety and fuel economy - not to mention ridding the world of shag carpet interiors, bias-ply tires and those horrible motorized seatbelts of the early '90s.
By this time next year, the Chevy Corvette, Jeep Cherokee and next-generation Ford Mustang will all be on sale and will all, in some way, have angered or offended purists. To those critics, Mark Phelan of the Detroit Free Press is preemptively telling them to stop complaining - at least until they've all been driven. From the Corvette's square taillights and the Cherokee's radical nose to whatever pony car purists will harp on the 2015 Mustang for, Phelan's column points out the positives of automotive evolution and the negatives of staying the course for too long. That's fair enough, but do you think Phelan is on point, or all wet? Head on over to the Detroit Free Press to read his words, then have your say in Comments.

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.