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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

Alfa SUV on pace for 2016 launch

While other parts of FCA's five-year plan are reportedly being shifted around, the timeline for Alfa Romeo is holding firm. The Italian brand is now hard at work on its crossover, which arrives after the Giulia sedan. Everything is on schedule for a mid-2016 debut too, according to Automotive News, and US sales would reportedly come late that year or in early 2017. Codenamed Project 949, Alfa's crossover shares its underpinnings with the Giulia and is sized to take on premium entries in the segment, like the BMW X3, Automotive News reports. The model is the Italian brand's first production CUV. The plan for a crossover has been percolating for years, as evidenced by the 12--year-old Kamal concept (pictured above). The Giulia and CUV are two of the eight new models Alfa wants to launch by 2018. In the five-year plan, Alfa execs also discussed two compacts, another crossover, a second midsize sedan, a fullsize sedan, and a specialty product. While not all of these might come to the US, the brand has set a goal to see a dramatic global sales jump to 400,000 units. "We are taking a very hard look at the sequencing of the products that we are launching to make sure that we get the biggest bang for the buck from the utilization of the architecture in terms of volumes," FCA boss Sergio Marchionne said, according to Automotive News. Related Video:

Alfa Romeo Giulia, Stelvio Quadrifoglio NRING Editions come with scale models and jackets

Alfa Romeo's Quadrifoglio models, both the Giulia and Stelvio, have set some quick laps at the Nurburgring. The latter holds the SUV record, while the former was recently dethroned by the Jaguar XE Project 8. To celebrate, the company has created the NRING Edition for the Alfa Romeo Giulia Quadrifoglio and the Alfa Romeo Stelvio Quadrifoglio. In typical special edition tradition, it features a unique color, a matte, metallic gray, and a few other other basic upgrades, plus numbering for all 108 examples of each model. But the really special parts of these vehicles aren't actually part of the vehicles, but rather they're bonus accessories and experiences. Each car comes with a "welcome kit." It includes Sparco racing gloves, an Alfa Romeo jacket, cufflinks, shoes and a bag in which to carry everything. The last car we remember coming with its own jacket is the Mercury Marauder. On top of that, each car comes with its own 1:18 scale model. Once you've found a place for your model and are ready with your Alfa gear, you can head to Germany to participate a driving school course at the Nurburgring with your NRING Edition car. All of this makes a somewhat average special edition car something far more exciting, and as such we're not surprised it won't be available in America. All 216 cars will be sold in Europe, the Middle East and Asia. But hey, if you're a wealthy car enthusiast who has been looking at Alfas, one of these could be the way to go. Related Video: