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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 Renegade Hell's Revenge is the Harley rider's Jeep

Well, here's a thing. Yes, it's a Jeep Renegade. Yes, it has flames on it. And no, we aren't really sure how to feel about it. This is the Renegade Hell's Revenge. Presumably named after the Hell's Revenge Trail in Moab, this one-off baby Jeep is the product of Italian tuning house Garage Italia Customs and draws inspiration from the collected works of Harley-Davidson. It's not the first time a car company has attached the Milwaukee icon's badge to one of its vehicles – the company has a long history of partnering with Ford for special edition pickup trucks – but it's the first time we can recall the brand teaming with Jeep. The Hell's Revenge was created because of the 25th annual European H.O.G. Rally, a big Harley-Davidson festival being held in Portoroz, Slovenia this weekend. And since Europeans have a bizarre infatuation with Harleys, Jeep probably saw an excellent advertising opportunity and slotted the off-road brand in as the event's main sponsor. We have to admire the workmanship on this diesel-powered Renegade. Ignore the fact that there's a flame motif, and the actual paint job itself is absolutely lovely. According to FCA's official release, GIC used four layers of matte paint before applying fluorescent paint. The dashboard also gets a bright, exuberant flame motif, while the seats are a combination of Foglizzo Nappa leather and black denim. The functional changes are minor. BFGoodrich tires and a jacked-up suspension provide extra capability, and there are a pair of adorable LED spotlights ahead of the two A-pillars. It's an impressive effort. Really. But when you remember that the last Chrysler product to wear a flame motif was the PT Cruiser, we wonder if Jeep knew what kind of company its newest CUV would be in. Related Video:

Hellcat-powered Jeep Grand Cherokee Trackhawk spied | Autoblog Minute

This week we got another look at the Jeep Grand Cherokee Trackhawk. This is perhaps the most anticipated Jeep that we've heard of in years. Jeep Autoblog Minute Videos Original Video autos