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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

US Postal Service going Ram ProMaster

Selling cars, vans, and trucks one at a time is business good enough to keep most automakers solvent, but fleet sales are where it's really at. Take this latest order placed by the United States Postal Service from Fiat Chrysler Automobiles, for example. The order calls for a massive fleet of 9,113 units of the 2016 Ram ProMaster 2500 cargo van. That number may only be a drop in the bucket compared to the 190,000 vehicles the Postal Service operates across the country, but it's still a pretty large order to place all at once. "While each and every one of our fleet customers is important to us, none command our attention like USPS," said FCA's fleet operations director Tim Kuniskis. "I can't think of another more mission-critical service than literally delivering the goods of our nation on a daily basis, and we are honored that USPS chose the Ram ProMaster to help them meet their challenging duty." Naturally, each of the 9,113 Ram vans will be specially equipped for the purpose of collecting and delivering the mail and packages. They'll also be fitted with 3.6-liter Pentastar V6 engines driving 280 horsepower and 260 pound-feet of torque through six-speed automatic transmissions to the front wheels. It's the latter feature which the post office may find the most compelling, helping the vans get traction regardless of the weather. You know, given the whole "neither snow nor rain nor heat nor gloom of night" thing that the service seeks to uphold. Related Video: FCA US LLC TO SUPPLY 9,113 NEW 2016 RAM PROMASTER VANS TO U.S. POSTAL SERVICE - Ram Commercial to supply 9,113 new 2016 Ram ProMaster 2500 cargo vans to U.S. Postal Service - Ram ProMaster 2500 is a highly customizable van designed to exceed the demands of commercial customers - Customized outfitting for national mail and package delivery service - Segment exclusive front-wheel-drive system enhances all-weather operation September 29, 2015 , Auburn Hills, Mich. - FCA US LLC announced today that it will supply 9,113 new 2016 Ram ProMaster 2500 cargo vans to the United States Postal Service (USPS). The 2016 Ram ProMaster 2500 cargo van selected by USPS features the award-winning, gasoline-fueled 3.6-liter Pentastar V-6 engine rated at 280-horsepower output with peak torque of 260 lb.-ft. The engine is paired with a proven, smooth-shifting, six-speed automatic transmission, upgraded to accommodate the ProMaster's exceptional cargo-hauling capability.

Ram 2500 Off-Road Pack targets Ford's FX4, Chevy's Z71

If you were a Ford or Chevrolet customer looking for a heavy duty pickup with some improved off-road chops, the process is relatively simple: tick the box for the FX4 or Z71 packages and be on your merry way. These packages are simple affairs, adding upgraded shocks, underbody protection, and unique wheels alongside a slew of cosmetic improvements. Now, Ram is getting in on the game. Making its debut at the Chicago Auto Show, a new 4x4 Off-Road Package will be offered on the 2500 model regardless of engine, bed length, or trim level. The only restriction is cab size – you'll need to order the Crew or Mega Cab in order to get the new option pack. Despite being a new package, Ram's formula is more or less the same as that used by the FX4 and Z71. Mechanical changes are limited to new Bilstein monotube shocks (Ford turns to Rancho, while the shock absorbers on Chevy's Z71 are unbranded) and a standard limited-slip differential (also offered on the Big Horn and Lone Star trims). Firestone supplies the LT tires, which look to strike a balance between off-road ability and on-road comfort, while there's the normal array of underbody protection. And like Ford and Chevy, Ram has fit a prominent decal on the rear fender. Pricing isn't finalized yet, but Ram specifically calls the 4x4 Off-Road Pack "a value-priced option." That'd make a lot of sense, considering how Ford and Chevy have priced similar equipment packs. Neither the FX4 nor the Z71 pack are high-priced options, with the former ringing up at $295 on the F-250 and the latter maxing out at $620, depending on which Silverado HD you chose. Look for the Ram 2500 4x4 Off-Road Pack to hit dealers during the third quarter of 2016. Related Video: Ram Truck Brand Announces New Ram 2500 Heavy Duty 4x4 Off-road Package New Ram 2500 4x4 Off-road Package designed for customers who need essential off-road upgrades combined with 3/4 -ton pushing, pulling and hauling capabilities Part of "America's Off-road Truck Leader" lineup Features stability control upgrades, all-terrain tires and rugged exterior appearance New package includes limited-slip differential, underbody protection and Bilstein shocks Available "RamBox Holster" rack accessory for RamBox-equipped trucks February 11, 2016 , Auburn Hills, Mich. - Ram Truck capitalizes on a core piece of the 3/4 -ton segment with new Ram 2500 4x4 Off-road Package, which includes a list of must-have upgrades for the occasional off-roader.