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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

Jeep follows up Super Bowl spot with call to help the USO

Once again, Chrysler had one of the most talked about Super Bowl commercials with its two-minute Whole Again Jeep spot, which was used to highlight its Operation SAFE Return program for US military personnel returning home from active duty. As part of this campaign, Jeep announced today that it will be donating up to $300,000 to the United Services Organizations (USO), and you can help.
Simply tweet using the #joinOSR hashtag on Twitter, visit the Yahoo! homepage or go to the Jeep Operation SAFE Return website, and Jeep will donate $1 to a fund that provides returning troops things like employment assistance and incentives to buy new vehicles. Jeep is also donating to this charity to the tune of $250 for each Jeep Wrangler and Wrangler Unlimited (including the Freedom Edition model) and Jeep Patriot Freedom Edition model sold.

2017 Chrysler Pacifica scores near top on minivan mpg

The 2017 Chrysler Pacifica gets 28 miles per gallon fuel economy on the highway, 18 mpg city, and 22 mpg combined, according to the government's newly announced estimates. Those figures compare well to the 2016 Town & Country's EPA rating of 25 mpg highway, 17 mpg city, and 20 mpg combined. They also make the new minivan among the most efficient models in its class, although not quite the king. These fuel economy figures only apply to the 2017 Pacifica with the 3.6-liter V6, which makes 287 horsepower and 262 pound-feet of torque, and the nine-speed automatic. We will have to wait until the second half of the year to find out how the plug-in hybrid performs, but the brand believes at least 80 MPGe is possible. Chrysler also plans to make stop-start available later, which will increase real-world fuel numbers. Compared to the currently on-sale competitors, the 2017 Pacifica is among the top, but there are two clear rivals. The 2016 Honda Odyssey has EPA ratings of 28/19/22. Those figures match the Chrysler on the highway and combined, but beat it by one mpg in the city. The other challenger is the 2016 Nissan Quest at 27/20/23. The Nissan wins by two mpg in the city and one mpg combined, but the Pacifica wins by one on the highway. According to Fueleconomy.gov, the front-wheel drive Toyota Sienna and Kia Sedona match the Pacifica's 18 mpg city rating, but they can't beat its combined or highway numbers. Related Video: All-new Gasoline-powered 2017 Chrysler Pacifica Offers Unsurpassed Fuel Economy, Greener Ownership Experience 28-mpg highway unsurpassed in minivan segment; 12 percent better than model it replaces Combined-cycle rating of 22 mpg is 10 percent better Improved fuel efficiency contributes to nine-percent reduction in Global Warming Potential (GWP) All-new Pacifica's superior performance attributable to engineering enhancements, such as: Upgraded version of award-winning Pentastar V-6 TorqueFlite transmission; world's first minivan application of nine-speed automatic gearbox Best-in-class aerodynamics Aggressive weight-reduction strategies March 8, 2016 , Auburn Hills, Mich. - The all-new 2017 Chrysler Pacifica minivan has earned a highway-cycle fuel-economy rating of 28 miles per gallon (mpg) from the U.S. Environmental Protection Agency (EPA) – a benchmark unsurpassed by any minivan on the market. It is also 12 percent better than the vehicle Pacifica replaces.