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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

FCA reportedly joins the crowd skipping this year's Paris Motor Show

It's likely FCA vehicles will not be seen at the Paris Motor Show this year. Automotive News is reporting that Fiats, Alfa Romeos, Jeeps and Abarths will not be a part at the show, based on information circulating in the French media. There's a possibility that Maseratis will be displayed at a special section dedicated to upscale cars, but Maserati too will not have a show stand of its own. Ferrari will have a stand, but as it happens, the supercar maker has been a standalone brand since 2015. Skipping the Paris show follows FCA's decision not to take part in the Frankfurt show last year, and the two shows alternate as the biggest autumnal automotive show in Europe. Volkswagen will also not attend the event, and neither will Ford, Nissan or Infiniti. This has become a problem for car shows worldwide, including Detroit's North American International Auto Show. FCA has not released a formal statement about the matter, but a FCA spokesman, quoted by the French magazine L'Argus, reportedly said that the sales and publicity brought in by the show stand would not justify the costs of attending. The news mirrors Volvo's newly announced plan to not take part at the next Geneva Motor Show, but to arrange "bespoke activities" to introduce its cars instead. Related Video:

Updated Alfa Romeo Tonale possibly caught camo-free during design clinic

Amateur spy shots taken during what looks like a design clinic held behind closed doors have shed light on how Alfa Romeo's Tonale concept is evolving on its way to production. They suggest the design study presented during the 2019 Geneva auto show wasn't as close to done as many thought. The photos were posted on an Italian enthusiast forum and quickly taken down, but they were saved and published by an Instagram user named CocheSpias. Alfa Romeo did not distribute them on its official channels, so we can't be 100 percent certain about their authenticity. Assuming they're the real deal, they reveal the Tonale has mellowed out considerably since it first showed its nose in Geneva. The headlights are bigger in nearly every direction, they're less bionic-looking, and they're separated from the grille by smaller, recessed air vents. It's a look that's very loosely reminiscent of some of the company's classic models, like the Giulia Sprint GT. Stylists also re-shaped the hood.           View this post on Instagram                   Aqui os dejamos unas fotos de una de las maquetas pre-produccion del futuro SUV de Alfa Romeo. El Tonale. #alfaromeo #alfaromeotonale #alfaromeosuv #alfasuv #prototype #carspy #carscoop #carshot #fotoespia #instacar #spyshot #newcar #carporn #carpassion #instapic #carpic A post shared by CocheSpias (@cochespias) on Oct 8, 2019 at 1:04am PDT The profile and the overall proportions don't appear to drastically change. The rear door handles remain integrated into the C-pillar to give the Tonale a two-door look, a styling cue also seen on the Giulietta sold in Europe. The rear lights are bigger, though they're still connected by a light bar. The emblem on the hatch confirms Alfa Romeo hasn't changed its mind about the crossover's name. The user who posted the photos from the design clinic explained he wasn't given permission to upload images of the interior. He reported the Tonale's steering wheel looks a lot like the Giulia's, and the dashboard receives the same blend of round and rectangular air vents. The infotainment system's touchscreen is propped up on the dashboard rather than neatly integrated into the center stack, a layout which makes it easier to change during a mid-cycle update, or as tech advances. Mechanical specifications remain under wraps. Alfa didn't have much to say about the concept, either, but we know it used a gasoline-electric plug-in hybrid drivetrain.