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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.

2017 Ram Rebel Mojave Sand preaches subtlety, revived 1500 Ignition Orange Sport doesn't

The traditionally green Los Angeles Auto Show isn't normally the place for pickup trucks, but that's not stopping Ram from bringing a pair of limited-edition trims for its popular 1500 pickup to sunny SoCal. First up, we have the 1500 Rebel Mojave Sand. Limited to just 1,500 units, this truck gets its name from its Mojave Sand exterior paint, which looks nothing like the identically named color Jeep sells on the Renegade. The cute ute's shade has a lot more tan than the almost-white color coming to the Ram Rebel. Of course, the Renegade doesn't get the Rebel's neat black graphics on the performance hood. Inside, the special-edition Rebel replaces the Radar Red seatbacks with all-black thrones, while Light Slate Gray stitching covers the IP, doors, and seats. Black anodized touches round out the cabin changes, and contribute to what is quite frankly a very business-like cabin. It feels out of place for a vehicle like the Rebel, but that doesn't mean it looks bad. If you think the Rebel Mojave Sand looks too muted, the new 1500 Ignition Orange Sport is anything but. A revival of a previous limited-edition package from 2015, the new truck brings back the bright orange exterior color, body color grille surround, black hood decals – which are identical to the Mojave Sand – and black badges. The main exterior difference between 2015 and 2017 are the wheels. Presumably 20-inchers, the five-spoke design is black for 2017 rather than silver. The cabin gets "Copperhead" accents and stitching throughout the cabin, with anodized orange trim pieces on the door panels and trim rings. Prices for the Rebel Mojave Sand start at $46,910 including $1,320 in destination charges. Deliveries should start in December. The Ignition Orange Sport, meanwhile, is only available on the 5.7-liter, V8-powered Crew Cab and kicks off at $45,060, also sans destination. The Jack-O-Lantern-themed trucks are hitting dealers now. Related Video:

NHTSA is investigating FCA shifters for roll-away accidents again, this time the rotary units

It seems FCA's shifter troubles aren't over yet. Now, just a few months after issuing a recall to resolve user-related issues with its monostable shifters, the company is again under investigation by NHTSA. The issue is related to the potential for cars to roll away when the rotary-style shifter is not properly placed in park. Two FCA models are the subject of this investigation: the 2013–2016 Ram 1500 and the 2014–2016 Dodge Durango. NHTSA estimates about 1,000,000 vehicles would be affected if a recall is issued. The investigation was started following 43 complaints of vehicles rolling away while supposedly being in "park." Among the complaints were reports of 25 crashes and 9 injuries. NHTSA does point out that in every incident, the parking brake was not engaged. A representative from FCA also gave us an official statement regarding the investigation: "FCA US is cooperating fully with NHTSA's investigation, the scope of which is limited. Other vehicles equipped with rotary shifters are not included. In accordance with prudent practice, the Company joins NHTSA in urging all drivers to use their vehicles' parking brakes." View 35 Photos As mentioned above, other Chrysler products with rotary shifters, such as the Pacifica minivan and 200 sedan, are not involved in this investigation. One of the key differences, as the representative told us, is that these vehicles have electronic parking brakes that automatically engage if the driver does not select park and then opens the door with the seatbelt unbuckled. The Ram 1500 and Durango feature mechanical, manually operated parking brakes and therefore cannot activate the brake automatically. Because this is currently an investigation, an exact cause for the incidents has yet to be determined, and none of the vehicles have been recalled. It's possible there could be a mechanical defect. However, the issue could be a confusing interface causing user error, as was the case with FCA's monostable shifters, where drivers think they've put the car in park but actually haven't. Something that indicates it could be a case of confused users is that NHTSA also opened an investigation into 2012–2014 Jaguar XF and Land Rover Range Rover Evoques for similar issues. Both vehicles use a rotary shifter and have had roll-away complaints levied as well. Even if it is a case of user error, FCA and Jaguar Land Rover may still have to recall their vehicles.