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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

Dodge Challenger SRT Hellcat vs. Chevrolet Camaro ZL1 in latest Head 2 Head

"Olympian" is one of the terms we use to signify the greatest height, the seat of the gods. Yet Mt. Olympus is the second-highest peak in the Balkans ranges, overshadowed by the crest at Musala in Bulgaria's Rila mountains. Both great heights, but one is a little higher. That's how we get the Olympian Chevy Camaro ZL1 pitched at the Musalic Dodge Challenger SRT Hellcat in Motor Trend's latest episode of Head 2 Head. The side-by-side spec sheet is filled with farcical numbers. For the ZL1, that's a 6.2-liter V8 with 580 horsepower, 556 pound-feet of torque, a 4,051-pound curb weight, 0-to-60 miles per hour in 3.9 seconds, a quarter-mile time of 12.2 seconds and a base price of just $57,800. Opposing that, the Hellcat wrings out its 6.2-liter V8 for 707 hp, 650 lb-ft of torque, weighs 4,449 pounds, does the quarter in 11.7 seconds and has a base price of just $60,990. Except in the case of the Hellcat, when Motor Trend put it on the dyno the machine spit out a reading of 672 hp and 606 lb-ft at the wheels. If there's a 10-percent driveline loss through those beefed-up internals and heavy-duty eight-speed transmission, that means the Hellcat is actually rated at about 750 horsepower and 700 lb-ft. But once they get put on a closed-off strip of coast road in Northern California, there are only a few strands of hair between their respective performances. That's not the case for they sensations provide; host Jonny Lieberman calls one of them, "One of the most incredible cars ever made," and says, "It changes everything." Watch the video above to see who got the verdict and how. Related Video:

Daily Driver: 2015 Dodge Charger SRT Hellcat

Daily Driver videos are micro-reviews of vehicles in the Autoblog press fleet, reviewed by the staffers who drive them every day. Today's Daily Driver features the 2015 Dodge Charger SRT Hellcat, reviewed by Greg Migliore. You can watch the video above or read a transcript below. Watch more Autoblog videos at /videos. VIDEO TRANSCRIPT: [00:00:00] Hey, everybody. It's Greg Migliore and today I am driving a 707-horsepower Dodge Charger. That can only mean one thing: I'm driving the Hellcat. Naturally, the spotlight feature of this car is the 6.2-liter supercharged Hemi V8. Makes 707 horsepower and 650 pound feet of torque. [00:00:30] Now naturally the engine sounds great and you can hear all of those horses going out the exhaust in back, which I think the Dodge guys have tuned really well. I think it's got one of the more unique sounds in the industry. All that horsepower will do that, but they've tuned it so there's a low kind of growl, and then it burbles and it's angry [00:01:00], it's visceral. I like it. It's intoxicating. It's different than other muscle cars. It's different than European exotics. I think it sounds great. I'm driving in sport right now which allows me to use the paddle shifters. I think it sounds a little better and the shifts of the eight-speed automatic transmission are a little bit more aggressive. For such a powerful car, Dodge did a nice job of tuning it to be actually pretty drivable. I just took a corner right there and the [00:01:30] steering offers you satisfying weight to your inputs. It's a little bit of a heavier steering, especially compared to some of the earlier generation Chargers. It's sporty, but it's not crazy. The design of the Dodge Charger is a critical element. That's why a lot of people buy this car, is it gives them that muscle car heritage look. The Hellcat has some special design cues that are also functional. You've got a couple of extra air intakes up front, keeps everything cool and breathing, the air flowing through; a nice spoiler in back [00:02:00] that helps keep the aero, and the downforce keeps you on the ground. The HID projector headlights really pop, especially at night, and in back you've got the LED taillights that spread out wide across the back end of this car like some of the great Chargers of the past. This car rolls on 20-inch black wheels with a spiderweb design. I think they look good. They're kind of low-key, which I think is great.