2006 Jeep Wrangler Unlimited Sport Utility 2-door 4.0l on 2040-cars

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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.

Jeep Wrangler JK's exit interview: brilliant, flaws and all

The engineers at Fiat Chrysler Automobiles, Jeep's current steward (and there have been many), have to be sweating bullets as they ready the forthcoming, long-overdue replacement for the Wrangler. It's the brand's icon, its most recognizable vehicle, and the reason Jeep enjoys such success today. Most brands use their flagships to lure shoppers who will then take home a more practical, pedestrian model. Think about the relationship between Corvettes and Malibus in the Chevy showroom. For Jeep, however, the Wrangler is a business unto itself: Nearly one in four Jeeps sold new last year was a Wrangler. That's a lot of pressure as Jeep gears up to replace the current model, codenamed JK, which has been on the road since 2007. I took a Wrangler into the woods to ponder it all. The Wrangler lineup starts around $26,000 but climbs rapidly from there. At the upper end of the spectrum sits the Rubicon Hard Rock, which builds on the already capable Rubicon's locking differentials and electronic front sway bar disconnect with a host of styling goodies. At $43,325 as tested, the Hard Rock is no cheap trail toy. Wranglers have gotten more comfortable and capable over the years, but driving one is still an exercise in compromises. Luxury here means durable leather upholstery and a lot of bass from the stereo. The driving experience is of the "well, it's better than it used to be" variety on pavement. The rational buy in this segment is the Toyota 4Runner Trail, which goes off-road almost as well as the Jeep and does everything else way better. But nobody takes home a Wrangler because it makes sense. It's a middle finger extended in the direction of conformity while fording the river of beige Corollas between home and office. You don't need a Wrangler, but you probably want one. That's why Jeep sold more than twice as many Wranglers as Toyota did 4Runners last year – and the 4Runner sells well. Wrangler sales aren't slipping, but increasingly stringent emissions and safety standards are signs of the inevitable forward march of progress – and so Wrangler must change with the times. Simple ways to improve the Wrangler are obvious: An updated interior with a modern infotainment system, user-selectable traction control modes tailored to specific terrain conditions, an eight-speed automatic, better aerodynamics, and a lot of weight-saving aluminum are inevitable.

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