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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

FCA recalls 2019-20 Ram 2500 and 3500 trucks for transmission fluid leak

Once transmission fluid goes into the transmission, there's a general expectation that it will stay inside. On some 2019-2020 Ram 2500 and 3500 trucks, that ain't happenin'. Fiat Chrysler Automobiles (FCA) and the National Highway Traffic Safety Administration (NHTSA) opened a recall campaign on January 24,  due to transmission fluid leaking from the dipstick tube on vehicles with a six-speed automatic (codenamed 68RFE) transmission.  NHTSA recall No. 20V043000 states that 84,978 trucks are potentially affected. On select Ram work trucks, "a buildup of pressure and heat inside the transmission may result in a transmission fluid leak." Due to the location of where the leak might occur, the transmission fluid could drip onto the nearby turbocharger or "another ignition source within the engine compartment." Should this occur, it's a fire risk. The recall breaks down to 64,590 units of the 2500 pickup and 19,612 of the 3500. FCA estimates that only 1% of the roughly 85,000 vehicles have the defect.  As a fix, Chrylser will replace the transmission valve body separator plate and reprogram the powertrain control module. Chrysler will officially begin the recall process on March 14, and all owners will be notified. Related Video:    

Ram 1500 Rebel OTG concept shows up in a patent filing

Stellantis filed a patent with the U.S. Patent and Trademark Office on April 12, initially found by Car and Driver, in the generic category "Automobile Body." But the images within portray a specific vehicle: The 2020 Ram Rebel 1500 Off the Grid (OTG) concept from the 2019 SEMA show. That concept dipped a regular old Ram in a vat of Mopar and third-party accessories, the result a rig built for bugging out. Off-the-shelf and custom Mopar gear included a larger grille with flow-through RAM lettering, a steel front bumper with integrated off-road lights, a high-rise snorkel, side steps doubling as rock rails, a two-inch lift kit, and fender flares over beadlock wheels wrapped in 35-inch Goodyear meat. The Ram Power Wagon donated its 10,000-pound Warn winch, the Ram Tradesman donated its rear bumper for a better departure angle and vinyl interior flooring. This could be considered the base form of the truck, and it's what the patent drawings illustrate — a rig Stellantis could put on a dealer floor in 48 hours. The third-party accessories are missing. On the concept, those were a Yakima rooftop basket and utility rack with more LED lighting, a rooftop tent, awning, and solar array, and a bed-mounted slide-out cooking area and cooler from Dometic. With factory-built hardcore off-roaders even more popular than they were in 2019, the question is whether Ram plans to throw a Rebel-based hat in the ring. Muscle Cars & Trucks wonders if Ram is considering dividing its performance truck lineup into a big-bore go-fast TRX side challenging pickups like the Ford F-150 Raptor and a hardcore expedition side taking on pickups like the Chevrolet Silverado ZR2. The concept Rebel OTG was powered by the 3.0-liter V6 EcoDiesel with 260 horsepower and 480 pound-feet of torque, which would be another big differentiator on a showroom floor. Or, as C/D muses, this could be a template for a Mopar special edition, something Ram can test the waters with before committing. Or, as with so many other patents, it could be nothing. If nothing else, it's nice to see Ram still thinking about it. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.