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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.

Chrysler readying 20 Moparized vehicles for SEMA

The Las Vegas Convention Center has plenty of space for aftermarket companies and automakers to show off their wares, and it looks like Chrysler is taking advantage of the spacious floor plan. At next month's SEMA Show, Chrysler will have a full 20 cars from its six brands decked out with Mopar gear.
As a hint of what is to come, Chrysler released a handful of teaser sketches showing glimpses of modified Jeep Cherokee, Ram 1500, Fiat 500L and Chrysler 300 concept vehicles. The automaker will also use the venue to show off a new line of Jeep Performance Parts offered by the all-new Mopar Off-Road Division. In addition to the images, Chrysler also issued a brief press release - posted below - breaking down some of the "industry-first features" that Mopar has offered in recent years.

2019 Ram 1500 pickup spotted without the classic crosshairs

Ram has done a good job of hiding its next-generation trucks from the public, but one of our spy photographers finally glimpsed the pickup with very little camouflage. One truck was even wearing just its factory paint job. From what we can see, the 2019 Ram pickup will be a big departure from the current generation. (UPDATE, January 2018: Here are the story and photos from the 2019 Ram's full reveal at the Detroit Auto Show.) Up front are the most significant changes. Ram trucks since the mid-'90s have been distinguished by their big-rig looks that consisted of low mounted headlights, and a tall, proud grille. That grille was also made all the more prominent by how the middle of the hood met the top of the grille, while the sides of the hood and the fenders dipped down toward the headlights. This traditional look has mostly disappeared. The headlights have been raised up to the top of the grille opening. Now the grille drops below the lights. There is still a hint of the old style in the hood, but the look is very different. That hood and the front bumper also are more sculpted and detailed to emphasize the truck's toughness, and the hood now features a badge with the model of truck and its engine. The dark red truck in the photos has a 5.7-liter V8. The grille appears to be missing the classic crosshairs, too, and instead there's just one horizontal bar. It's possible this is just for this trim level, since the current Ram has a variety of grilles sans crosshairs. Moving around the truck, the changes are less radical. The Ram's flanks are still impressively clean and uncluttered, featuring simple, organic curves. The taillights are more detailed now, and the turn signals and reverse lights have little swoops in them. The tailgate is very clean, too, and the various holes in the back indicate that there will be no shortage of badging and garnish options at the rear. Expect to see all the details in the near future, in time for the 2019 model year. Related Video: