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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

2016 Jeep Wrangler to ditch solid axles to save weight?

Hey, Jeep fans. If you think the idea of a funky-looking, car-based Cherokee revival is offensive, have a listen to what might be in store for the next-gen Jeep Wrangler. Automotive News is reporting that as Jeep develops the 2016 Wrangler, weight reduction is a crucial target, and the Wrangler's rugged solid axles could be sacrificed in the name of better fuel economy.
We've already heard the next Wrangler will go on a serious diet using aluminum body panels and an air suspension system, so the idea of a four-wheel independent suspension setup for this OG SUV isn't all that surprising. Besides, it's not like an independent suspension would limit the Wrangler's off-road abilities - just check out the Hummer H1. In fact, it might be the aftermarket parts companies - not Wrangler enthusiasts - who would be most disappointed by such a drastic suspension change, as the article states that the Wrangler's solid axles and coil-link suspension make it the most popular SUV for customization.
There are probably still a couple years before we'll start hearing any concrete details about the 2016 Wrangler, at which time it will be interesting to see how stricter fuel economy and crash safety regulations have been balanced with traditional Wrangler cues like its removable doors and roof and folding windshield. Let us know in the comments below if a Wrangler sans solid axles is any less of a Wrangler.

Blake Anderson drives an over-the-top patriotic Jeep

Comedian Blake Anderson is seeing growing success as one of the stars and co-creators of the Comedy Central show Workaholics. Not surprisingly, when you get your own TV show, there's a deep desire to celebrate with a big purchase, a car perhaps. Anderson did just that, but as opposed to plunking his money down on a Porsche or Mercedes-Benz, he took a much more patriotic route. Anderson described his ride as "an American Jeep" in an interview with Conan O'Brien, and he didn't mean that it was from the AMC years of the off-road brand's ownership. Instead, this one is as patriotic as they come thanks to a beautifully regal bald eagle covering the hood with the nation's flag as the background running up at least to the windshield. Hear Anderson's entire story of buying this red, white and blue off-roader in the video above.