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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.

Fiat Chrysler Automobiles recalls nearly 750k vehicles in two campaigns

Fiat Chrysler Automobiles is recalling a total of 747,817 vehicles in the US in two separate campaigns recently added to the National Highway Traffic Safety Administration database.
The first one covers about 434,581 units of the Chrysler 300, Dodge Charger, Challenger, Durango, and Jeep Grand Cherokee from the 2011-2014 model years with electric hydraulic power steering, the 3.6-liter V6 engine and a 160 amp alternator, according to FCA. In the affected vehicles, it's possible for the alternator to fail without warning and possibly cause the car to stall. According to the documentation submitted to NHTSA, the automaker began investigating the problem in August 2014 and has found possible evidence of one crash caused by the failures but no known injuries.
Customers will begin receiving notification about the recall next month, and obviously the repairs will be done at no cost to them.

Dodge Durango Shaker concept: A 392 V8 in front of six Viper seats

When done right, a parts-bin special can be a beautiful thing. This Dodge Durango Shaker concept for the 2016 SEMA show is one such vehicle, and it's easily our favorite Mopar debuting in Vegas. The key, of course, is pulling from the right bins. Take a tour and you'll see Charger, Challenger, and Viper pieces grafted onto this slick crossover. The featured special part is the big, 6.4-liter 392 Hemi V8 that's been dropped under the hood; it's sourced from the SRT Challenger and Charger where it makes 485 horsepower and 475 pound-feet of torque. With that in place, the fabricators cut a big hole in that hood for the Challenger's awesome optional shaker scoop. It wasn't an easy installation; it required a custom spacer for the intake to make sure everything lined up with the hole properly. View 17 Photos Apparently there were some Viper seats lying around, so six of them were stuck into this Durango. Makes sense. It does lose a bit of people-carrying capability as a result, since only two seats fit in each row, and the seats don't fold for extra cargo room. A Dodge spokesperson attested to the fact that all three rows are usable, if not totally comfortable. But then stock third-row seats aren't always that comfortable anyway. Seriously, though, Viper seats. We don't care how comfortable or usable the result is. Although you might not give it a second thought, even the fuel filler needed some special attention. This piece was also lifted from a Dodge Challenger, and it was taken along with the surrounding sheet metal. Because of the different orientation of the filler cover on the Challenger, the builders decided the easiest way to get it to fit was to chop the fuel filler section out and weld it onto the Durango. The designers also put a little blue Stig on the cover. And those are just the cool parts that were hard to install. This Durango features plenty of other slick details, like the custom bumpers, fender flares, and side skirts. Everything is painted B5 Blue with matte black and carbon accents all around. Up front, the bumper hides a pair of fog lights stolen from a Challenger Hellcat – and yes, they're the ones with intakes in the middle. The grille is also a custom piece, losing the standard crosshair design for better airflow. The fender flares cover up some seriously wide, 305-section tires at all four corners, which are hauled down by Hellcat brakes. The rear bumper bumper contains a stylish center-exit exhaust with dual tips.