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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.

Alfa Romeo limits Giulia and Stelvio Quadrifoglio NRING editions to 110 units

The 505-horsepower Alfa Romeo Stelvio Quadrifoglio and the 505-horsepower Giulia Quadrifoglio are two of the most exclusive, powerful, and attractive four-door vehicles on the market. In the past, they've both set records at Germany's Nurburgring, and Alfa has created limited-edition packages to honor the spirit of the legendary racetrack. The NRING-edition cars will be limited to 110 total examples. If this sounds familiar, it's because the idea is not new. In June of 2018, Alfa Romeo announced NRING packages for Europe, the Middle East, and Asia. At the time, we believed the special-editions would not be coming to America; turns out we were incorrect. The tweaks start with the paint, as the NRING cars are only available in matte Circuito Gray. As its association with motorsport and racing continues, carbon fiber has been applied to the mirror caps, the "V scudetto" front grille, the roof on the Giulia, and the side sills on the Stelvio. Red brake calipers with white scrip hide behind dark 19-inch wheels on the Giulia and 20-inch wheels on the Stelvio. The Stelvio also gets a dual-pane sunroof. Inside, Alfa Romeo added a carbon fiber steering wheel, a carbon fiber shifter bezel, a serial number badge on the passenger dash, and red and black leather with red contrast stitching on the seats. Light-up carbon fiber side sills are applied to the Giulia, and carbon fiber Sparco racing seats are optional on both cars. The NRING cars also come with the convenience package, the driver assistance dynamic package, and the premium alarm system. Unfortunately, there's no mention of the "Welcome Kit" the other markets got, which is a bummer. Who doesn't want racing gloves, a jacket, and a scale model? Alfa Romeo lists the 2019 Giulia Quadrifoglio NRING at $91,485 with destination, which is $15,895 more than the Giulia Quad's $75,590 starting price. The Stelvio NRING is $97,485, also up $15,895 from the $81,590 starting price. Only 55 examples of each car will be built.

Alfa Romeo Giulia sedan debuts with 510 hp, killer curves [w/video]

After a very blurry, accidental photo debut just yesterday, Alfa Romeo let loose the first official images and information about the upcoming Giulia. And she's a looker. We've got a man on the ground in Milan for the reveal who'll be bringing us more about the Giulia later on, but in the meantime let's take a look at the facts. Alfa's rakish new sedan certainly offers enough performance to justify the fast-standing-still styling. The Giulia seen here is the top-of-the-line Quadrifoglio edition, which has a turbocharged V6 that produces 510 horsepower (likely a metric figure, so it might be rated 503 here) and is good for a trip to 62 miles per hour in just 3.9 seconds. The car will also come in lower-power specs, likely using variations of a turbocharged four-cylinder. That quick acceleration is at least partially down to a very impressive curb weight. Alfa hasn't given us an official figure, per se, but does mention that the Giulia has a weight-to-power ratio "lower than 3kg/hp." Doing the math, that would put the sedan under 3,400 pounds, which is impressive. For reference, a BMW M3 sedan makes 425 hp and weighs in at around 3,600 pounds, while a 464-hp Cadillac ATS-V weighs about 100 pounds more. We know from Alfa's US-spec 4C that the sedan might gain a bit of heft in its cross-Atlantic translation, but if it's even in that ballpark, we'll be excited. Handling should be excellent, too, at least as far as we can tell from the case made on paper. The company boasts a 50/50 front/rear weight distribution, with a multi-link rear suspension and double wishbones up front. We're also promised "rapid, accurate steering" which, again, is borne out by the 4C. The Giulia Quadrifoglio features a torque-vectoring rear differential, an active front splitter to improve aerodynamics at high speeds, and a computer system called Chassis Domain Control to keep the various subsystems balanced. Touted as a competitor to the BMW 3 Series (an M3 competitor in this spec), the Giulia will be available as a rear-wheel-drive vehicle as standard, of course. But an optional all-wheel-drive setup is also in the cards. You'll have to decide for yourself if the flowing, long-hood-short-deck styling works, but we think it's excellent (at least based on the first few images). Find a bit more detail about the upcoming Giulia in the press release below, and expect more from Milan shortly.