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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.

Mazda and Fiat finalize deal for Alfa roadster, next-gen MX-5 Miata

Although a little bit later than expected, Mazda and Fiat have signed a final agreement that will bring a next-generation MX-5 Miata to the Japanese automaker and a new roadster to Alfa Romeo. When the proposed arrangement was announced back in May, the two automakers had hoped to seal the deal last year, but it doesn't appear that the production timeline for these cars has slipped any, with both expected to start rolling off assembly lines in 2015.
Other than a shared chassis with a rear-wheel-drive layout, it sounds like the two cars are still planned to be distinct in their own ways from their styling right down to their engines. Mazda will produce both cars at a plant in Hiroshima, Japan, but it isn't clear what role each automaker will play in the cars' developmental process. The big question, of course, is what clever portmanteau name we can come up with, like Toyobaru. Mazda Romeo is the easy choice, but Alfazda might roll off the tongue a little better.
Scroll down for a brief press release from both automakers.

Alfa Romeo's midsize sedan due in June, and we'll get it

As the calendar shifts, so do Alfa Romeo's plans. At the LA Auto Show, Harald Wester, head of Alfa Romeo, said the brand would unveil its second US model – after the 4C – next June, but he wouldn't identify the type of car. A report in Automotive News Europe, quoting sources, says that it will be a midsize sedan in the mold of the erstwhile 159 (pictured) that was supposed to become the Giulia but now has a new brief and perhaps a new name. "Giulia" should be familiar because we've been hearing about it for more than three years – in fact it was 2011 when it was thrown back on the drawing board for a complete redesign. Last year the plan – or the anonymously-sourced bits of the plan that we kept getting – were for the platform to go rear-wheel drive and do duty for both a BMW 3 Series and 5 Series competitor. ANE's latest intel is that the coming midsize sedan will be come in between the 3 Series and 5 Series – a strategy used by the original Cadillac CTS – slotting in beneath a "flagship sedan" that would fit between the 5 Series and 7 Series. That would appear to contradict a direct challenge to the entry-level segment's standard-bearer, and perhaps the M3, too. Those two Alfa sedans would be part of an eight-model onslaught happening over the next four years, which is a new matrix compared to April of this year when that was reported to be six models over the next five years. ANE says work has started on three of them, a midsize SUV said to be the third. The push is to get Alfa to 400,000 annual sales – 100,000 more than the April target – with the US accounting for 150,000 of that. News Source: Automotive News Europe - sub. req. Alfa Romeo Sedan alfa romeo giulia giulia