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Macron and Le Pen decry 'shocking' Stellantis CEO pay

PARIS — French President Emmanuel Macron and his far-right challenger in the French presidential vote, Marine Le Pen, on Friday both decried as “shocking” the multimillion euro payout to the CEO of carmaker Stellantis. Stellantis CEO Carlos TavaresÂ’ remuneration package of 19.15 million euros just a year after the company was formed became an issue as Macron and Le Pen campaigned ahead of the April 24 runoff vote. Polls show purchasing power and inflation are a top voter concern. Stellantis was formed last year through the merger of PSA Peugeot and Fiat Chrysler Automobiles. Centrist President Emmanuel Macron, perceived by many voters as being too pro-business, called the pay package “astronomical” and pushed for a Europe-wide effort to set ceilings on “abusive” executive pay. “ItÂ’s shocking, itÂ’s excessive,” he said Friday on broadcaster France-Info. “People canÂ’t have problems with purchasing power, difficulties, the anguish theyÂ’re living with, and see these sums. Otherwise, society will explode.” Far-right leader Marine Le Pen, who enjoys support from many working-class voters, called for bringing in more workers as shareholders. “Of course itÂ’s shocking, and itÂ’s even more shocking when it is the CEOs who have pushed their society into difficulty,” she said Friday on BFM television. “One of the ways to diminish this pay, which is often out of proportion with economic life, is perhaps to allow workers in as shareholders.” Stellantis continued to back the package despite a 52.1% to 47.9% vote rejecting it at an annual shareholders' meeting chaired from the Netherlands, where the company is legally based, on Wednesday. The company, citing Dutch civil code, noted that the vote is advisory and not binding. The company later said in a statement that it took note of the vote, and will explain in an upcoming 2022 remuneration report “how this vote has been taken into account.” In the 2021 report, the company identified peer group companies that it used as a salary benchmark, including U.S. companies like Boeing, Exxon Mobile, General Electric as well as carmakers Ford and General Motors. Stellantis, whose brands include Peugeot, Fiat, Jeep, Opel and Maserati, reported net profits last year had tripled to 13.4 billion euros ($15.2 billion). The French government is the third-largest shareholder in Stellantis, with a 6.15% stake through the Bpifrance Participations S.A. French public investment bank.

May 2016: FCA wins, Ford and GM stumble on weak car volumes

The May 2016 sales numbers are in, and it looks as though FCA is getting some vindication for boldly cancelling two slow-selling car models. Meanwhile, Ford saw overall sales dip and GM's May volume took a big dive versus the same month in 2015. While Marchionne's decision to axe the Chrysler 200 and Dodge Dart has drawn criticism as being short-sighted, it's working for FCA so far. Although the Dart and 200 aren't out of production yet and no capacity has been shifted to crossover or trucks, May's numbers show that the emphasis on Jeep and Ram models makes sense right now. FCA's US sales rose 1 percent last month compared to May 2015, putting the year-to-date total at 955,186 vehicles, an increase of 6 percent compared to the same period last year. Standouts included the Jeep Renegade, Compass, and Patriot, and the Fiat 500X. Ram pickup sales were down 3 percent. And your fun fact is that Alfa Romeo sales were up precisely 10 percent, for a total of 44 4Cs sold versus 40 in the same month last year. At FoMoCo, the Ford brand took a hit to the tune of 6.4 percent from May 2015 to 2016, registering 226,190 sales last month. Lincoln showed improvement on its modest numbers, going from 9,174 to 9,807, a 6.9 percent increase. Overall, Ford was down 5.9 percent for the month to 235,997; despite the slump, year-to-date total Ford sales are up 4.2 percent to 1,112,939. Strong sellers included Escape, Expedition, F-Series, and Transit - big stuff. Most small and/or efficient models (Fiesta, Focus, Fusion, C-Max) saw sales slides. Fusion sales were also down, likely due to effects of model changeover to the freshened 2017 model. Ford has promised four new crossovers and SUVs by 2020 and if things keep trending this way the company will be able to sell them, but things could change in the next four years. GM saw the worst of it for domestic brands. Retail and fleet sales were down for each of the four divisions, with the May 2016 total dropping 18 percent to 240,450 vehicles. GM's year-to-date sales are down 5.0 percent in 2016 to 1,183,705. Both the Sierra and Silverado were down significantly, and the majority of Chevy, Buick, GMC, and Cadillac nameplates saw sales decreases, with both small cars and larger utilities included. Not even big stuff could help GM this month, it seems. We'll have more on the rest of the industry's May sales as those figures trickle in.

2015 Ram 1500 Rebel drops the crosshairs, muscles in with new snout

Emboldened by record sale and increasing market share, Ram continues to spin off derivatives of its fullsize pickup. Bowing at today's Detroit Auto Show, the 10th model based on Ram's 1500 series is the new-for-2015 Rebel, and it's designed to capture the affections of that exceedingly popular marketer's bogey, the "active lifestyle enthusiast." Ram officials figure they've already got the hunt/fish/camp crowd all sewn up with the 1500 Outdoorsman, so the Rebel's imposing snout strikes out in a different direction in search of extreme-sports types – namely customers with dirt bikes, side-by-sides, jet-skis and other powersports toys. If that has you envisioning the Rebel as a rival to the Ford F-150 SVT Raptor, think again – "It's not an extreme, desert-racer off-road type product," says Ram boss Bob Hegbloom. If you're seeking an analog from another automaker, look to the Toyota Tundra TRD Pro and we think you'll be in the ballpark. The Rebel's most distinctive styling element has to be its radical new grain-finish grille, which does away with Ram's longstanding crosshair motif in favor of an interlocking design that intentionally won't be for everyone. There are lighting changes, too, with black-bucket headlamps featuring LED accents and matching LED foglights. A non-functional twin-snorkel sport hood, tonneau cover with stamped logo, blacked-out taillamps and unique badges are other model telltales. The Rebel (where have we heard that name before?) makes good use of Ram's air suspension system as an easy way to raise the ride height by an inch, which in turn affords inch-longer suspension travel and lends the truck a more formidable stance while helping clear the 33-inch (LT285/70R17E) Toyo Open Country A/T tires. Flares swiped from the 2500 Power Wagon keep the wider rubber mounted on Rebel-exclusive 17-inch wheels nicely – and legally – tucked in. Further off-road-minded modifications include a close-cropped steel front bumper that offers an improved arrival angle as well as 360-degree tow hooks and replaceable center skid plate. Out back, dual exhausts tuck up into the bumper and out of harm's way, but you might be too busy staring at the billboard-sized RAM tailgate lettering to notice. Ram officials assure us the Rebel's suspension has been recalibrated to cope with the higher ride height and better off-road ability (mostly through the inclusion of Bilstein monotube shocks, a softer rear anti-roll bar and reworked jounce bumpers).