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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.

NHTSA investigating 110,000 Ram 2500s and 3500s, one death alleged

The National Highway Traffic Safety Administration has launched an investigation focusing on 110,000 Dodge Ram 2500 and 3500 pickups from model years 2004 to 2006. One death has already been reported, according to NHTSA, due to a potential fault with the clutch interlocks on manual-transmission versions of the heavy duty pickup.
According to the report, these trucks can be started without depressing the clutch. There have been three reports so far, and as we mentioned above, one very sad incident seems to have resulted in the death of a child.
"One complaint involved an incident that occurred when a child was able to enter the vehicle and start the ignition without depressing the clutch. The vehicle then moved forward striking another child resulting in a fatality," NHTSA said in the investigation bulletin, which you can view below.

Weekly Recap: Things you might not know about the 2015 Dodge Charger and Challenger Hellcats

If you're an enthusiast, and you don't know that Dodge spawned another Hellcat this week, you really must have been living in cave. The 2015 Dodge Charger SRT Hellcat is probably the biggest news for enthusiasts since the reveal of, well the 2015 Dodge Challenger SRT Hellcat.
But, there are some things you might not know or might have missed about the new Charger and Challenger Hellcats. For starters, reports that the Hellcat production would be limited to a low volume are not true.
"We have not capped the Hellcat on either the Challenger or the Charger," Dodge CEO Tim Kuniskis said.