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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.

Ram 1500 wins Consumer Reports fullsize truck test

Vehicles that perform well in road tests by some of the most popular automotive publications, such as Car and Driver, Motor Trend and Automobile, don't always score well in in Consumer Reports' more regimented, practical test procedures, so the Ram 1500's climb to the top of CR's scoreboard is a boon for the well-received pickup truck, which CR also put on its "recommended" list.
To start off with, the freshened 2013 Ram 1500 has a lighter, stiffer chassis than before, and the four-wheel-drive Crew Cab that CR bought and tested performed flawlessly and achieved class-leading fuel economy (15 miles per gallon) with the 5.7-liter Hemi V8 - the most popular engine choice for the 1500 - and the new eight-speed automatic transmission. The unique-in-its-class rear coil spring setup endowed the truck with "one of the best rides of any pickup," CR reports. That helped it earn its class-leading road-test score of 78, well ahead of the nearest competition still in production, the Toyota Tundra (69) and the Ford F-150 (68). It's worth noting, however, that the Chevrolet Avalanche outscores the 1500 by two points (80), but production of that vehicle ends after the current 2013 model year.
About the only things the publication could find wrong with the truck were a heavy tailgate and a high step up into the cabin. Get ready for the next round later this summer when CR is finished testing the 2014 Chevrolet Silverado, which is doing well so far in the publication's tests.

2013 North American Car and Truck/Utility of the Year finalists announced [w/poll]

2012 is almost in the books and automakers are spending December gearing up for the 2013 auto show season, which tips off next month at the Detroit Auto Show. Traditionally, the latter opens up with the announcement of the North American Car and Truck/Utility of the Year awards, and this year figures to be no different.
But up until this moment, we didn't know which six vehicles would be parked ahead of the stage as finalists, with executives and engineers waiting for the winners to be disclosed. Whittled down from October's "short list" of nominees (11 cars and 10 truck/utility vehicles), the finalists are as follows:
2013 North American Car of the Year: