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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.

Man hits 153 mph on I-75 in Dodge Magnum

A man driving in Michigan took his 2005 Dodge Magnum practically to the limit in the wee hours of the morning on May 19 when the Michigan State Police caught him on radar going 153 miles per hour on Interstate 75 near Detroit. The 21-year-old driver was spotted around 3:00 AM, according to The Detroit News. Michigan State Police First Lieutenant Michael Shaw told Autoblog that officers initially saw the man on radar doing 79 mph in a 70-mph-zone, and they started following him. He eventually clocked 153 mph. However, First Lt. Shaw was clear that there was never a pursuit. "Speeding isn't necessarily a reason to put the public at risk," he said. The situation ended rather abruptly, though. The driver pulled off the interstate and behind a building. He remained in the vehicle, and police arrived and arrested him. According to First Lt. Shaw, the man was driving home from work and alcohol wasn't a factor. The Magnum has been impounded, and the driver was charged with reckless driving. Unfortunately, First Lt. Shaw said that he didn't know what engine was in the wagon, but as enthusiasts, we're curious. After all, the 2005 Magnum RT was governed to 130 mph and the SRT8 wasn't unleashed until 2006, which means either the wagon must've been derestricted to hit such high speeds or that police have the year wrong. We'll let you know if we figure that one out...

Dodge Hellcats change their stripes for 2016

If you've been on the fence about ordering up a new Dodge with Hellcat power, this might just provide the extra incentive you were looking for. Starting this month, Dodge is offering a new stripe option, exclusive to its most powerful muscle cars. The SRT Hellcat stripes are now available to order on the top-of-the-line, 707-horsepower versions of both the Charger and Challenger. The dual full-length stripes run all the way up from the front lip, over the grille, up the hood, accentuating the NACA duct, along the roof, down the trunklid, across the rear spoiler, and down the rear bumper. They feature a carbon-fiber texture, and can be ordered with any of eleven colors for an extra $995. Along with the stripes, Dodge has also announced that it is extending the availability of the exclusive Plum Crazy color – which was originally scheduled to expire at the end of December – for another month. The throwback hue can be ordered on Charger and Challenger models ranging from the SXT through the R/T models all the way up to the SRT 392 and Hellcat. 2016 CHALLENGER AND CHARGER SRT HELLCAT MODELS EARN EXCLUSIVE STRIPES, DODGE EXTENDS PLUM CRAZY PAINT - All-new SRT Hellcat dual exterior stripe design adds even more Dodge attitude to 2016 Challenger and Charger SRT Hellcat models - SRT Hellcat-exclusive dual full-length carbon-fiber pattern stripes provide a customized-from-the-factory look - Dealers will start taking orders for Hellcat stripes in January 2016 - SRT Hellcat dual stripes have a U.S. Manufacturer's Suggested Retail Price of $995 - Dodge is answering enthusiast demand for Plum Crazy exterior paint with an additional one-month run of the legendary and limited-edition high-impact hue January 8, 2016 , Auburn Hills, Mich. - For more than a year, Dodge Challenger and Charger SRT Hellcat models — the fastest and most powerful muscle cars ever with 707 supercharged HEMI® horsepower each — have stormed roadways and drag strips with acceleration blasts to 60 mph in the low 3-second range, generated more than 61 million sensational YouTube video views around the globe, enabled an entirely new generation of Dodge enthusiasts and now for 2016 have been rewarded with their very own Dodge performance stripes.