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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.

Everything we know about the Alfa Romeo Stelvio

Alfa Romeo is working rapidly on putting a crossover onto the road and these latest awkwardly-shaped spy shots are our best look at the upcoming Stelvio. Crossovers and compact SUVs are still outrageously popular with Americans and Alfa Romeo wants in on the ever-growing segment. The upcoming Stelvio, then, would make Alfa more profitable and make the storied brand once again a household name. Here's an overview of everything we know about the Stelvio. October 24, 2016: A moderately-camouflaged Stelvio is spotted testing in broad daylight with minimal updates. The most recent prototype has three strangely-shaped ridges on the hood, while the headlights and taillights, despite being taped off, still appear to be taken straight from the Giulia sedan. The profile mimics that of the Porsche Macan with the bulbous rear end gaining massive exhaust tips. View 12 Photos October 11, 2016: Photographers captured a lightly-camouflaged Stelvio testing in Europe at night, giving us our best look at the SUV's design. The front of the vehicle shares the same front fascia design as the Giulia sedan with two oval-shaped inlets on the side and the automaker's iconic rounded-triangle grille. The headlights also appear to be the same slit-like units on the Giulia, as well. The side profile of the SUV portrays a rounder design than displayed on previous prototypes that photographers have spotted. At the rear, two small tail pipes protrude out of the vehicle, while the taillights appear to be similar to the Giulia's, too. Unsurprisingly, the Stelvio looks comparable to a Giulia on stilts. View 7 Photos June 28, 2016: A prototype of the Stelvio is spotted wearing a massive amount of camouflage, making the shape and overall design of the SUV hard to discern. Again, the automaker's well-known front end is easy to spot, as are the two large exhaust outlets at the back. The rear end, though, features an interesting, rakish design that is more in line with a Sportback than a SUV. Photographers also managed to get pictures of the SUV's interior, which featured birch-like wood, an integrated screen, and large paddle shifters behind the thick steering wheel. Just like on the Giulia, the start-stop button is mounted directly onto the steering wheel. View 10 Photos April 7, 2016: The Alfa Romeo Stelvio is spotted testing for the first time. Alfa Romeo was caught testing a heavily-camouflaged prototype of the Stelvio wearing an insane amount of unsightly black plastic.

Italian team hitting the track in an electric Alfa Romeo Giulia touring car

Alfa Romeo isn't scheduled to introduce its first electric model until the early 2020s, but the Giulia is giving up gasoline a little bit sooner to participate in the burgeoning ETCR racing series. Italian tuner and race car builder Romeo Ferraris — which isn't officially associated with Alfa Romeo or Ferrari — published renderings of the track-only sedan it plans to start racing in the coming months. Low, wide and winged, the Giulia ETCR looks ready to line up on the starting grid. And, as is often the case with racing cars, it shares little more than a silhouette with the street-legal sports sedan it's based on. The lights on both ends look nearly stock, but almost everything was developed from scratch by Romeo Ferraris and partner Hexathron Racing System. The 54-year old company pointed out the Giulia is its first electric car, and it stressed it developed the model without Alfa Romeo's support. Its 350-horsepower Giulietta TCR was an in-house project as well. While Romeo Ferraris hasn't published technical specifications, the ETCR regulations give us a good idea of what's under the body. Every car will be powered by the same motors, single-speed gearbox, inverter, and 65-kilowatt-hour lithium-ion battery pack. Series overseer WSC will provide the battery, while the other components will come from Williams Advanced Engineering. The powertrain makes 400 horsepower continuously, and it delivers a maximum output of 670 horsepower. The ETCR series will launch in 2020, though the calendar surprisingly hasn't been published yet. The battery-powered Giulia will need to fend off competition from a similarly modified Hyundai Veloster, and the e-Racer developed by Cupra, which was recently spun off from Volkswagen-owned SEAT. We expect other automakers will toss their hat in the ring in the coming months.