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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 Caimano concept is peak Seventies wedge design

This weekend, the Bremen Classic Motor Show will be opening its doors with a "wedgetastic" theme, highlighted by the Alfa Romeo Caimano concept you see here. Alfa Romeo commissioned Giorgetto Giugiaro and his then-newly established Italdesign firm to cook up the Caimano concept for the 1971 Turin Motor Show. It was based on the Alfasud (also designed by Giugiaro) but shortened the chassis by nearly 8 inches and fitted with entirely different bodywork that made it look like it was from another planet. The canopy greenhouse eliminated the A pillar, with the B and C pillars forming a trapezoidal roll bar at the back, capped by an adjustable spoiler. Inside the cockpit were two recumbent bucket seats, a cylindrical dashboard, and two small openings in the glass canopy for ventilation. Of course it also had pop-up headlights, and it was powered by the 1.2-liter boxer for from the Alfasud, good for all of 68 horsepower. Striking though it may have been at the time, it shouldn't come as a surprise that only one example was ever built, and it remains in the Alfa Romeo museum in Milan. The company is taking it out of the collection, however, and bringing it to Bremen for the show. Alongside it, showgoers can expect to see such other "wedgetastic" creations of yesteryear as the Lancia Stratos, Maserati Khamsin, Lamborghini Countach, Mercedes C111, and the BMW Turbo X1 (which previewed the M1 to follow). Little surprise that most of these wedge designs were penned by either Giugiaro or by Marcello Gandini for Bertone. Along with Lionardo Fioravanti (of Pininfarina fame), they were each born in Italy in 1938 within months of each other, and went on to dominate Italian automotive design over the course of their careers. Related Video: Alfa Romeo at the Bremen Classic Motor Show - The iconic Caimano concept car will be featured in a special exhibition dedicated this year to the revolutionary designs of the 1970s. - The "wedge on wheels" thought up by Italdesign is based on the chassis of the Alfasud, another of Giugiaro's creations, and is a fine example of the extreme design of its time. - The only example of the model belongs to the Alfa Romeo Museum. - The Motor Show will take place from February 5 to 7 in Bremen and will open the classic car season. It will bring together some 650 exhibitors in eight halls covering an area of over 45,000 square metres.

Alfa Romeo 4C La Furiosa revealed by Lapo Elkann's Garage Italia

Visitors to the Dubai Motor Show who stopped by the Alfa Romeo stand were treated to this aesthetically modified 4C created by Garage Italia Customs. To make this particular example stand apart from an "ordinary" Alfa 4C, the customizers cloaked it in a velvet matte-finish red, similar to the original show car. The roof was left in exposed carbon fiber, fading into red, like the engine cover and brake calipers. The trim around the headlights, air vents, and side mirrors has been left in carbon fiber with a thin coat of candy red that leaves the weave exposed. The wheels are painted gold, and the interior is swathed in Alcantara. The creation was made for Alfa Romeo by the customizing firm started by Lapo Elkann. The eccentric brother of Fiat Chrysler chairman John Elkann is himself an heir to the Agnelli empire, and has played a variety of roles in the company - including brand promotion and the creation of the Gucci edition Cinquecento. Alongside fashion house Italia Independent, Lapo founded Garage Italia Customs to apply his unique sense of style and that of his team to models like the Fiat 500, Jeep Renegade, and Maserati Ghibli. Related Video: Milano, November 10th 2015 Garage Italia Customs in Dubai with Alfa Romeo 4C "La Furiosa" On the occasion of the 2015 Dubai International Motor Show, Garage Italia Customs presents a world premiere, La Furiosa, the 4C one-off created for Alfa Romeo. La Furiosa is the result of the meeting between the "Mechanics of Emotions" and the Style Center together with the Maestros of Garage Italia Customs. It is a unique model that combines the high level technical characteristics of this Alfa Romeo and the Tailor Made interventions of the Lapo Elkann team specialists. THE EXTERIORS The stage for the debut of this new creation by Carlo Borromeo - head of the Garage Italia Customs Style Centre – is the Alfa Romeo stand at the Dubai International Motor Show. Hence, La Furiosa is unveiled to the international press next to the Alfa Romeo 510 CV Giulia Quadrifoglio and the latest versions of the Alfa Romeo Giulietta Quadrifoglio, the Alfa Romeo 4C Coupe and the Alfa Romeo 4C Spider. The aim of the Garage is to create a car which emphasises the 4C wild style with a strong and extraordinary aesthetic impact. Special toned-down painting characterises the external livery.