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☆ Drivers Frustrated With Their Cars Door Handles, Screens, Other Tech
▼ + stars: | 2023-08-07 | by ( Alexa St. John | Tim Levin | ) www.businessinsider.com time to read: +4 min

The auto research firm JD Power assessed dozens of vehicle brands for its latest quality study. The overall quality of new vehicles is deteriorating and nagging problems are on the rise, according to a new study from JD Power. "The basic touch point of door handles is now a percolating problem area as manufacturers attempt to redesign them," JD Power said. JD Power assigned a score to each auto brand based on problems per 100 vehicles, and calculated an industry average of 192 problems per 100 vehicles (PP100), up from 180 in 2022. In terms of vehicles themselves, the Nissan Maxima had the highest initial quality overall, with 106 problems per 100 vehicles, according to the survey.

Persons: Tesla, Dodge, Frank Hanley, Power, JD Power, Ram, Alfa Romeo, Polestar Organizations: JD Power, Fiat Chrysler, French PSA Group, Buick, Chevrolet, Volvo, Chrysler, Volkswagen, Nissan, JD, Dodge, Romeo, GMC, Porsche, Kia, Lexus, Maserati, Hyundai, Honda, BMW, Mitsubishi, Toyota, Ford, Benz, Rover, Mazda, Acura, Lincoln

☆ Stellantis wants Italy government support to hit million model mark
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +2 min

Companies Stellantis NV FollowMILAN, July 26 (Reuters) - Stellantis CEO Carlos Tavares said a production target of one million vehicles in Italy it is discussing with Rome was well within reach but it could not be a one-sided commitment and the government must support it. "We are not afraid of the one million mark," Tavares told reporters in a post-earnings roundtable. According to some forecasts its output in Italy will likely rise to over 800,000 units this year. Fiat Chrysler, which merged with France's PSA in early 2021 to create Stellantis, last produced over one million vehicles in Italy back in 2017. Reporting by Giulio Piovaccari Editing by Keith WeirOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlos Tavares, Rome, Tavares, Adolfo Urso, Alfa Romeo, Giulio Piovaccari, Keith Weir Organizations: Italy's Industry, Fiat, Alfa, Fiat Chrysler, France's PSA, Thomson Locations: Italy, Rome

☆ Jeep, Dodge maker Stellantis posts first-half revenue jump, confirms 2023 guidance
▼ + stars: | 2023-07-26 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Carmaker Stellantis on Wednesday posted a 12% year-on-year jump in net revenues and 37% spike in net profit for the first half of 2023, boosted by higher shipments. The manufacturer of Jeep, Dodge, Peugeot and other brands recorded second-quarter net revenues of 98.4 billion euros ($108.8 billion) and a net profit of 10.9 billion euros. The company confirmed its 2023 guidance while raising its growth outlook in Europe and the Middle East & Africa from 5% to 7%. Global battery electric vehicle (BEV) and low emission vehicle (LEV) sales were up 24% and 28% year-on-year to 169,000 units and 315,000 units, respectively. "It takes a united effort and open mindset across all our employees to embark on our no-compromise transformation journey while protecting the Company from external challenges."

Persons: Carmaker Stellantis, BEV, Stellantis, Carlos Tavares Organizations: Dodge, Peugeot, Fiat Chrysler, France's PSA Group, Global Locations: Europe, East, Africa, American

☆ New EV battery plant fuels labor tensions as UAW strike looms deadline
▼ + stars: | 2023-07-24 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

New York CNN —Stellantis and Samsung SDI announced plans Monday for another EV battery plant joint venture to open in 2027. Four major EV battery plants have opened in recent years and 19 more are planned with Monday’s announcement, according to the UAW. An aerial view of the Stellantis and Samsung Battery Plant construction site in Kokomo, Indiana. Those talks will have to be focused on the wages and benefits for the current UAW members. By comparison, UAW members with top seniority at a Big Three factory get $32.32 an hour, plus an annual bonus and profit sharing.

Persons: New York CNN — Stellantis, Shawn Fain, Stellantis, BEV, Kent Nishimura, ”, it’s, Fain, He’s, “, ” Stellantis Organizations: New, New York CNN, Samsung SDI, United Auto Workers, Stellantis, Jeep, Dodge, Chrysler, General Motors, Ford, UAW, don’t, GM, Fiat Chrysler, PSA Group, Peugeot, Opel, Vauxhall, Samsung Battery, Los Angeles Times, Samsung, Big, LG, SK, CNN, ICE Locations: New York, United States, Europe, Kokomo , Indiana, Warren Ohio, Korean, Kokomo

☆ Auto industry braces for contentious contract talks as UAW formally kicks off bargaining
▼ + stars: | 2023-07-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +11 min

Rebecca Cook | ReutersDETROIT — United Auto Workers President Shawn Fain promised union members he'd do things differently during contract talks with the Detroit automakers this year. Playing hard ball"We're in the process of changing the culture of this union from a reactionary, defensive union, to an aggressive and offensive-minded union," Fain said last month during a Facebook livestream. The deals cover roughly 150,000 UAW members who work for the automakers. United Auto Workers members on strike picket outside General Motors' Detroit-Hamtramck Assembly plant in Detroit, Sept. 25, 2019. "The federal government is pouring billions into the electric vehicle transition, with no strings attached and no commitment to workers," Fain said earlier this year.

Persons: Shawn Fain, Rebecca Cook, he'd, Fain, Gary Jones, Bill Ford, Ford Fain, —, Jim Farley, Chuck Browning, We've, … We're, Joe Biden, John Murphy, Stellantis, Reuters Stellantis, What's, Michael Wayland, BofA's Murphy, Steve Fecht Organizations: Reuters DETROIT — United Auto Workers, Detroit, UAW, Motors, Ford Motor, Ford, Headquarters, Facebook, " Bank of America Securities, General Motors, BofA Securities, GM, Fiat Chrysler, Fiat Chrysler Automobiles, FCA Sterling Heights Assembly, Reuters, United Auto, United Auto Workers, Hamtramck Assembly, CNBC, Center for Automotive Research, Deere, Co, Caterpillar, Ultium Cells, LG Energy, Tech Center Locations: Detroit, Illinois, Stellantis, Sterling Heights , Michigan, Hamtramck, Lordstown , Ohio, Warren , Michigan

☆ Stellantis unveils new platform underpinning move to electric vehicles
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

It has plans to move all its future products onto four new BEV platforms, STLA Small, Medium, Large and Frame, starting with STLA Medium from Europe this year. The STLA Medium platform will support several propulsion configurations; in full electric configuration it will feature a standard range of over 500 kilometres, which can be raised to up to 700 kilometres with a 'performance pack'. "BEV is the focus of the design of this platform," Tavares said. Stellantis said it currently offered 26 models in the market segments which will be served by the STLA Medium platform. Aimed at the mid-sized cars, the STLA Medium platform will be the base for up to two million Stellantis vehicles a year, built in several plants across the world, the Italian-French group said in a statement.

Persons: BEV, Carlos Tavares, Stellantis, Tavares, Ram, Alfa Romeo, Giulio Piovaccari, Keith Weir Organizations: MILAN, Wednesday, Fiat Chrysler, Peugeot, PSA, Citroen, Opel, Thomson Locations: Europe, France, Italy, Germany, North America, Italian

☆ Stellantis signs deal with Kuniko for supply of battery materials
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +2 min

MILAN, June 30 (Reuters) - Stellantis (STLAM.MI) has signed an offtake and equity investment agreement with Australia-listed Kuniko (KNI.AX), the latest of a string of deals aiming to give the carmaker stable supply of key materials for vehicle batteries. The funds provided by Stellantis will help support Kuniko's brownfield and greenfield battery metals exploration projects in Norway, which include nickel, cobalt and copper. Stellantis' Chief Purchasing and Supply Chain Officer Maxime Picat said the world's third largest carmaker by sales was on an "aggressive path" to securing raw materials needed to meet its electrification targets. "With Kuniko, we are adding another lever to support our European battery needs with a local and environmentally conscious solution from its Norwegian projects," he said. The completion of the offtake agreement and of the share subscription with Kuniko are subject to conditions, including regulatory approvals, the two companies said.

Persons: Stellantis, Maxime Picat, McEwen, Giulio Piovaccari, Gavin Jones Organizations: MILAN, Purchasing, Fiat Chrysler, Peugeot, PSA, Vulcan Energy, Resources, Thomson Locations: Australia, Franco, Italian, Norway

☆ JD Power quality survey: Alfa Romeo takes top spot
▼ + stars: | 2023-06-30 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

This time it was Alfa Romeo, an Italian car with a reputation for excitement – but not necessarily trouble-free ownership. Alfa Romeo leaped 24 places in the rankings to third overall, with 143 problems per 100 vehicles. Not every Stellantis brand ranked near the top, though, or even close. Last year, four Stellantis brands, including Ram and Alfa Romeo, were below average. Even if Alfa Romeo has improved enormously, it will be a long while before those scores changes much.

Persons: CNN —, Romeo, it’s, Alfa Romeo, Stellantis’s Dodge, Ram, Romeo Giulia Stellantis JD Power’s, doesn’t, Kristin Kolodge, Power, David McDonald, Larry Dominique, ” Organizations: CNN, Lexus, Alfa, Fiat Chrysler Automobiles, France’s PSA, Chrysler, Alfa Romeo, Consumer Locations: Italian, Stellantis, North America

☆ Technology is giving cars more nagging problems than ever
▼ + stars: | 2023-06-23 | by ( Alexa St. John | Tim Levin | ) www.businessinsider.com time to read: +4 min

Auto research firm JD Power assessed dozens of vehicle brands for its latest quality study. The overall quality of new vehicles is deteriorating and nagging problems are on the rise, according to a new study from JD Power. "The basic touch point of door handles is now a percolating problem area as manufacturers attempt to redesign them," JD Power said. JD Power assigned a score to each auto brand based on problems per 100 vehicles, and calculated an industry average of 192 problems per 100 vehicles (PP100), up from 180 in 2022. In terms of vehicles themselves, the Nissan Maxima had the highest initial quality overall, with 106 problems per 100 vehicles, according to teh survey.

Persons: Tesla, Dodge, Frank Hanley, Power, JD Power, Ram, Alfa Romeo, Polestar Organizations: Auto, JD Power, Fiat Chrysler, French PSA Group, Buick, Chevrolet, Volvo, Chrysler, Volkswagen, Nissan, JD, Dodge, Romeo, GMC, Porsche, Kia, Lexus, Maserati, Hyundai, Honda, BMW, Mitsubishi, Toyota, Ford, Benz, Rover, Mazda, Acura, Lincoln

☆ The best car brands of 2023
▼ + stars: | 2023-06-14 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

Consumer Reports released a list of top car brands Thursday. Consumer Reports released its list of the top car brands for 2023 on Thursday. Taking the bottom five spots are Mitsubishi, Alfa Romeo, Jaguar, Jeep, and Land Rover, with Land Rover at the very bottom. Consumer Reports ranked brands first by determining a road-test score using braking, handling, comfort, convenience, and fuel economy evaluations. The other domestic brands fell in the bottom-third of the rankings.

Persons: Alfa Romeo, Dodge, Genesis, Tesla Organizations: BMW, Land Rover, Consumer, Subaru, Lexus, Honda, Rover, Consumer Reports, Ford, GM, Fiat Chrysler, French PSA Group, Lincoln, Chrysler, Pacifica, Toyota, Kia, Mazda, Audi, Acura, Buick, Hyundai, Porsche, Dodge, Tesla, Infiniti, Volkswagen, Volvo, Nissan, Chevrolet, Cadillac, Benz, GMC, Mitsubishi, Alfa, Jeep

☆ G.M. and Stellantis Paid $364 Million in Fuel Economy Fines
▼ + stars: | 2023-06-02 | by ( Neal E. Boudette | ) www.nytimes.com time to read: +1 min

General Motors and Stellantis paid a combined $363.8 million in penalties for failing to meet federal fuel-economy standards for cars and trucks they produced in previous years, according to federal government documents posted on Friday. paid $128.2 million for failing to meet the targets with the light trucks it sold in 2018 and 2019, according to documents published on the National Highway Traffic Safety Administration’s website. Stellantis, the company created when Fiat Chrysler merged with the French automaker Peugeot, paid $235.6 million for cars it sold in 2016 and 2017. paid its fine in December, the documents showed, and Stellantis made payments in December and May. The penalties were levied under the corporate average fuel-economy standards that the safety agency oversees.

Persons: Stellantis, G.M Organizations: Motors, Fiat Chrysler, French, Peugeot, Reuters

☆ Jeep, Dodge maker Stellantis posts first-quarter revenue jump as chip supply eases
▼ + stars: | 2023-05-03 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Attendees view vehicles at the Jeep booth during opening day of the 2023 New York International Auto Show (NYIAS) in New York, on Wednesday, April 7, 2023. Carmaker Stellantis on Wednesday posted a 14% annual rise in first-quarter net revenues as an easing of semiconductor supply chain pressures boosted shipments. The Dutch-headquartered company, formed in 2021 from the merger of Italian-American conglomerate Fiat Chrysler group and France's PSA Group, recorded first-quarter net revenues of 47.2 billion euros ($52 billion). The manufacturer of Jeep, Dodge, Peugeot and other brands said consolidated shipments increased 7% from the first quarter of 2022 to 1.48 million, as a result of "improvement in semiconductor order fulfilment." "Our global footprint and diverse product portfolio means we are well-positioned to continue delivering strong financial performance throughout the year," Chief Financial Officer Richard Palmer said in a statement.

☆ Jeep-maker Stellantis is offering buyouts to some of its most senior employees — and blaming it on EVs
▼ + stars: | 2023-04-26 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

Stellantis is offering thousands of employees buyout packages, The Wall Street Journal reported. The move comes weeks after crosstown rival General Motors offered employees buyouts. The salaried employees getting the offers have 15 or more years of experience, according to the Journal. In the memo, Stewart attributed the move to the EV transition, writing, "The competition is fierce, and the cost of electrification cannot be passed on to the customer," The Wall Street Journal reported. Stellantis last offered buyouts to salaried US employees last fall.

☆ Automaker Stellantis hires ex-Adidas, grocery executive as CFO
▼ + stars: | 2023-04-19 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Stellantis on Wednesday said it has hired the chief financial officer from global grocery company Ahold Delhaize to replace CFO Richard Palmer, who plans to leave the company at the end of June. Palmer will be succeeded by Natalie Knight, who has served as CFO at the Netherlands-based food retailer since early 2020. The automaker did not release details regarding why Palmer, who served as CFO through two major global mergers, is leaving the company. The resulting automaker then merged with French company PSA Groupe in 2021, forming Stellantis. Stellantis said Knight will be based at the company's U.S. headquarters in Auburn Hills, Michigan, "with extensive travel to Europe and the other regions."

[1/2] A Fiat Chrysler Automobiles (FCA) sign is at the U.S. headquarters in Auburn Hills, Michigan, U.S. May 25, 2018. REUTERS/Rebecca Cook/File PhotoWASHINGTON, April 17 (Reuters) - The U.S. Supreme Court on Monday declined to hear a bid by General Motors Co (GM.N) to revive its racketeering lawsuit against rival automaker Fiat Chrysler Automobiles (FCA), now part of Franco-Italian automaker Stellantis NV , over bribery allegations involving the United Auto Workers union. Stellantis in a statement praised the court's decision to turn away what it described as "baseless claims" by GM. "Today's decision upholding the district court's dismissal of GM's lawsuit is another reaffirmation that its claims are meritless," Stellantis said. FCA paid a $30 million fine while the UAW agreed to independent oversight to resolve the U.S. Justice Department investigation.

☆ US proposes to slash EV mileage ratings to meet fuel economy rules
▼ + stars: | 2023-04-11 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, April 10 (Reuters) - The U.S. Energy Department (DOE) on Monday proposed reducing electric vehicles' (EV) mileage ratings to meet government fuel economy requirements, a move that could force automakers to sell more low-emissions cars or improve conventional models. DOE wants to significantly revise how it calculates the petroleum-equivalent fuel economy rating for electric and plug-in electric hybrids for use in the National Highway Traffic Safety Administration's (NHTSA) Corporate Average Fuel Economy (CAFE) program. Miles Per Gallon equivalent (MPGe) ratings are determined by using values for national electricity, petroleum generation and distribution efficiency and driving patterns. Environmental groups note fuel economy ratings for EVs is far higher for determining CAFE compliance than those listed on the government's consumer fueleconomy.gov website. The Natural Resources Defense Council and Sierra Club petitioned for the change in 2021, arguing "excessively high imputed fuel economy values for EVs means that a relatively small number of EVs will mathematically guarantee compliance without meaningful improvements in the real-world average fuel economy of automakers' overall fleets."

☆ Car dealers reveal the 9 questions you should always ask before buying
▼ + stars: | 2023-04-08 | by ( Alexa St. John | ) www.businessinsider.com time to read: +9 min

Many of the car brands with more inventory on lots than others might also have higher loan payments. "The role of a dealer isn't just to sell them a car, it's to help them find the lowest interest rate possible, and that's both new car dealers and used car dealers. "Even based on the specific car, one bank may provide a lower interest rate on a specific sort of make and model." The used car market might be even more complicated for car shoppers than the new market right now. As a result, far fewer car shoppers have opted to lease a car in recent years.

☆ Stellantis' Portugal plant to produce large series fully battery electric compact vans
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +1 min

March 31 (Reuters) - Carmaker Stellantis NV (STLAM.MI) said on Friday its Portugal plant would become the first assembly plant in the country to produce large series fully battery electric compact vans by 2025. Stellantis's Mangualde Production Center, which has made over 1.5 million vehicles, will produce battery electric light commercial vehicles for Citroën, Fiat, OPEL and Peugeot, the company said in a statement. Stellantis, the world's third-largest automotive group by sales, planned to spend over 30 billion euros ($32.53 billion) through 2025 to electrify its vehicle lineup and boost its software content to catch up with rivals, including Tesla Inc (TSLA.O). Stellantis was created through the $52 billion merger of Fiat Chrysler and Peugeot maker PSA in 2021. ($1 = 0.9223 euros)Reporting by Chandni Shah and Maria Ponnezhath in Bengaluru; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

☆ Jeep's CEO doesn't think there are enough raw materials on earth to meet electric-car demand
▼ + stars: | 2023-03-29 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com time to read: +4 min

Automakers are already racing to secure limited raw materials. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyStellantis' CEO doesn't think there are enough raw materials readily available to meet electric vehicle needs. "The affordability is not there, because the raw materials are scarce and very expensive, and I would add very volatile," Tavares said. Tesla CEO Elon Musk has emphasized just how much of a challenge getting these materials will be for EV-makers. Even mining executives have expressed concern that demand for these materials continues to outstrip the current available supply.

☆ 9 questions you should always ask when buying a car
▼ + stars: | 2023-03-15 | by ( Alexa St. John | ) www.businessinsider.com time to read: +9 min

☆ Kellogg is giving its Pringles and Cheez-It business a new name with classical Latin twist. It's the latest company name to incorporate the 'dead' language.
▼ + stars: | 2023-03-15 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Kellogg is renaming its snack business "Kellanova" — a combo of Kellogg and a Latin word for "new." Kellogg is naming its snacking division "Kellanova," the latest step in breaking up the company, it said on Wednesday. The name draws inspiration from the Kellogg name and a common Latin word, Kellogg CEO Steve Cahillane said in a statement. Etsy and Mondelez are among other companies with Latin namesKellanova is hardly the first company rebrand to draw inspiration from Latin. Before that, cigarette maker Philip Morris said it would change its name to "Altria" in an allusion to the Latin word for "high," the Journal reported in 2001.

☆ Stellantis to invest $155 million in U.S. to produce new electric drive modules
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +1 min

Companies Stellantis NV FollowMILAN, Feb 28 (Reuters) - Stellantis (STLAM.MI) said on Tuesday it will invest a total of $155 million in three plants located in Kokomo, Indiana, to produce new electric drive modules (EDM) that will be fitted in electric vehicles which the carmaker will assemble in North America. "With the investment, more than 265 jobs will be retained across all three plants," it said. Stellantis aims to have battery electric vehicles (BEV) account for 50% of its sales in the U.S. by 2030. Stellantis was created through the $52 billion merger of Fiat Chrysler and Peugeot maker PSA in 2021. Reporting by Giulio Piovaccari; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Stellantis, unions agree 2,000 voluntary job cuts in Italy this year
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +1 min

MILAN, Feb 27 (Reuters) - Stellantis (STLAM.MI) and unions signed an agreement to cut up to 2,000 workers from the carmaker's Italian operations this year through voluntary redundancies, workers' representatives said on Monday. The redundancies amount to more than 4% of Stellantis' current workforce in Italy of around 47,000 people, FIM, UILM, Fismic, Uglm and Aqcfr unions said in a joint statement. Incentives will vary based on seniority and proximity to retirement age, the unions added. Proposed packages will be smaller for younger workers, while office workers will also be offered relocation schemes, unions said. The deal adds to at least two previous accords Stellantis and unions signed last year for more than 2,500 voluntary layoffs in Italy.

Stellantis said it had achieved cash synergies of 7.1 billion euros last year, far exceeding the 5 billion euros by 2024 target it had set at the time of the merger. Stellantis's adjusted second-half earnings before interest and tax (EBIT) grew 17% to 10.95 billion euros, topping a consensus estimate of 9.63 billion euros in a Reuters poll of analysts. The margin on adjusted EBIT was 12% in the second half, down from 14.1% in the first six months of the year. It reiterated the same margin target for 2023, as well as one for positive cash flows. ($1 = 0.9393 euros)Reporting by Giulio Piovaccari; Editing Jan Harvey, Mark Potter and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ Bumper merger savings help Stellantis profit top forecast
▼ + stars: | 2023-02-22 | by ( Giulio Piovaccari | ) www.reuters.com time to read: +3 min

It will also pay a dividend of 4.2 billion euros on 2022 results, or 1.34 euros per share. Adjusted earnings before interest and tax (EBIT) came in at 10.95 billion euros for July-December, topping analysts' consensus estimate in a Reuters poll of 9.63 billion euros. It reiterated the same margin target for 2023, as well as one for positive cash flows. Increased industrial costs had an overall impact on the group's results last year of over 9 billion euros. "Challenges continue in securing capacity for (vehicle) outbound transportation: initially it was from plants to compounds and from compounds to dealers.

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