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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.

2017 Alfa Romeo Giulia Ti Lusso Drivers' Notes | We've got a crush on Giulia

American car enthusiasts have pined over Alfa Romeos for decades. The automaker stopped importing cars to the U.S. in 1995, with only a brief appearance with the beautiful but exotic 8C Competizione. The 4C followed along a few years later, but it too was a niche product, mainly intended to raise brand awareness than raise sales. That's where the Giulia steps in. As a compact sport sedan, Giulia is Alfa's BMW 3 Series competitor. Sure, the Giulia Quadrifoglio might get all the headlines, but cars like the Giulia Ti Lusso and Sport will be the real volume models. This is an extremely cutthroat segment with high expectations when it comes to both luxury and performance. Alfa has been out of the game for a long time, and the reputation it left wasn't exactly the greatest. Alfa Romeo has a lot riding on this car. Associate Editor Reese Counts: I like this car right from the start. It's a looker. While I prefer colors that pop, the Giulia looks wonderful even in this metallic black paint. The proportions are all perfect, and that iconic grille has rarely looked better. If Alfa does one thing right, its the styling. I felt the same way about the interior. The design is all simple and clean. The seats are particularly nice, with Ferrari-esque ribs down the middle. I'm also a big fan of the wood and leather. Only some cheap feeling plastic bits brought it down. This Giulia has a middling transmission, a good engine and great steering. There's some weird low-speed hesitation from the eight-speed that makes it feel like a dual-clutch. Once you're on it, the shifts are quick and smooth. The Lusso doesn't come with paddle shifters. That's fine. Not every car needs them. Buy the Sport if you want that sort of thing. Power and torque come on quick and effortlessly. It feels every bit as its class-leading (four-cylinder) 280 horsepower and 306 pound-feet for torque would suggest. The 5,500 rpm redline comes in quick and abrupt, making me wish it had a little more room to breathe up top. The steering is wonderful. It's quick and precise but doesn't feel jittery. I'd have to drive the competition back to back, but I think this has the best steering in the class. The wheel feels nice in your hands. Some of the other touch points are a letdown, but Alfa got the driving position and controls just right. Not a , but still a . Good engine, better steering.

Alfa Romeo flagship EV due in 2027 with 18-minute recharge time

Last July, Alfa Romeo boss Jean-Philippe Imparato said his Italian concern would develop a new battery-electric vehicle in the U.S. that would launch here in 2027. It would take the new top spot in the lineup, being larger than the Stelvio, full of tech and full of performance. During the launch of the Tonale in Japan, the boss shared provisional specs of the "high-performance SUV" with Automotive News Europe. The pack of some unknown size would juice motors putting out from 300 to 800 horsepower in the standard range, and around 1,000 horsepower in a Quadrifoglio trim. Here's the big stat: In ANE's words, an 800-volt architecture would enable "recharging times of 18 minutes max, [Imparato] said." We'd sure like to know the qualifications required to get an 18-minute charge. Porsche advertises the Taycan's 93.4-kWh Performance Battery Plus as being able to go from 5% state-of-charge to 80% in 22.5 minutes when the sedan's been optioned with the $460 On-Board DC Charger. Naturally, that's under ideal conditions and when plugged into a charger that can feed the Taycan at its max 270-kW rate. When veteran hypermiler Wayne Gerdes took a Taycan across the U.S. in five days, he said his first charge at a 350-kW Electrify America unit took 22 minutes to get the battery from 6% to 82%. Knowing that the initial few percent and those last 20% take longer than the meaty bit in the middle, we going to guess Imparato's time assessment leaves out the time-consuming portions of charging the battery near empty and close to full. But hey, four years is a long way away in the EV-verse.  The CEO said the Alfa Romeo will compete with the BMW X5, a crossover almost exactly ten inches longer than the Stelvio (pictured), which is currently the largest product in the portfolio and the best-seller in the U.S. The Italian might not share a traditional CUV shape with the German, Imparato having said that aerodynamic needs could lead to a shape between a sedan and a crossover. If things are on track in Milan, executives approved the design before the end of 2022.  We'll begin to see what Alfa Romeo's EV-only future when the brand's first dedicated EV shows in 2025. Related video: