by Bill Cawthon • Posted on November 16th, 2012
Chrysler is talking to Spain’s Banco Santander SA about replacing Ally Financial as its preferred lender.
“Chrysler Group has entered into a 30-day period where it is negotiating exclusively with a potential partner to provide financial services to our dealers and their customers,” Peter Grady, Chrysler Group’s vice president for network development and fleet, told the Wall Street Journal in a statement.
Earlier this year, Chrysler said that it will allow its pact with Ally Financial, the former lending arm of General Motors, to expire at the end of April next year.
Fiat has used Banco Santander for financing in several markets. In Europe, Santander handled financing for Fiat in the UK and Ireland until early this year when its role was taken over by FGA Capital, a joint venture of Fiat S.p.A. and Credit Agricole S.A.
Fiat S.p.A. announced its second-quarter results from Turin this morning for what could be the last time, if shareholders approve the Fiat-Chrysler merger on Friday.
Worldwide shipments rose 2%, to 1.2 million, in the second quarter as revenues rose 5% to $31.2 billion
NAFTA region shipments grew 10% while Asia Pacific (APAC) region jumped 42%....
According to a report in Italian financial newspaper Il Sole 24 Ore, the government is considering offering tax incentives to boost car sales in the country.
“We are thinking of using fiscal levers to encourage a renewal of our car stocks,” Transport Minister Mauritzio Lupi said today. “We are evaluating this project because that is what it means to have an industrial policy for this country.”
“We have the oldest fleet in Europe,” Lupi went on to say....
Allpar’s sources tell us that, despite the clear acceleration and fuel-economy benefits of the eight-speed automatic, the police are demanding that Dodge stick with the old Mercedes five-speed on Charger squad cars.
In 2014, both police and civilian Chargers had the five-speed, though civilians got the eight-speed with the V6 — and in 2015, the eight-speed will be the only transmission in any civilian Dodge Charger, including the SRT....
In today’s print edition of Automotive News, Larry Vellequette wrote about one more facet of the ongoing battle for bragging rights among pickup manufacturers.
This time, Ram is engaged in a tussle with Ford over top towing rights. Ford claims the championship over the Ram 3500, saying its 4X4 crew cab heavy-duty pickup can tow 31,200 pounds, 1,200 more than the Ram 3500 regular cab 4X2, which Chrysler maintains has “best-in-class” towing....