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CEO says Volkswagen's buying spree is over

After adding Italian motorcycle icon Ducati to its stable and spending $5.6 billion on the rest of Porsche, Volkswagen CEO Martin Winterkorn says he's done shopping for a while.
"We have enough to do at the moment in taking our twelve brands to where we want to be," Winterkorn tells German newspaper Handelsblatt.

Stellantis earnings rise along with EV sales

AMSTERDAM — Automaker Stellantis on Wednesday reported its earnings grew in 2022 from a year earlier and said its push into electric vehicles led to a jump in sales even as it faces growing competition from an industrywide shift to more climate-friendly offerings. Stellantis, formed in 2021 from the merger of Fiat Chrysler and FranceÂ’s PSA Peugeot, said net revenue of 179.6 billion euros ($191 billion) was up 18% from 2021, citing strong pricing and its mix of vehicles. It reported net profit of 16.8 billion euros, up 26% from 2021. Stellantis plans to convert all of its European sales and half of its U.S. sales to battery-electric vehicles by 2030. It said the strategy led to a 41% increase in battery EV sales in 2022, to 288,000 vehicles, compared with the year earlier. The company has “demonstrated the effectiveness of our electrification strategy in Europe,” CEO Carlos Tavares said in a statement. “We now have the technology, the products, the raw materials and the full battery ecosystem to lead that same transformative journey in North America, starting with our first fully electric Ram vehicles from 2023 and Jeep from 2024.” The automaker is competing in an increasingly crowded field for a share of the electric vehicle market. Companies are scrambling to roll out environmentally friendly models as they look to hit goals of cutting climate-changing emissions, driven by government pressure. The transformation has gotten a boost from a U.S. law that is rolling out big subsidies for clean technology like EVs but has European governments calling out the harm that they say the funding poses to homegrown industry across the Atlantic. Stellantis' Jeep brand will start selling two fully electric SUVs in North America and another one in Europe over the next two years. It says its Ram brand will roll out an electric pickup truck this year, joining a rush of EV competitors looking to claim a piece of the full-size truck market. The company plans to bring 25 battery-electric models to the U.S. by 2030. As part of that push, it has said it would build two EV battery factories in North America. A $2.5 billion joint venture with Samsung will bring one of those facilities to Indiana, which is expected to employ up to 1,400 workers. The other factory will be in Windsor, Ontario, a collaboration with South KoreaÂ’s LG Energy Solution that aims to create about 2,500 jobs. The EV push comes amid a slowdown in U.S.

Form and function in fairly equal parts | 2018 Alfa Romeo Stelvio First Drive

Alfa Romeo, a brand synonymous with sports cars that combine beautiful Italian design with historically dodgy reliability, now makes a crossover. The Stelvio is named after what is quite possibly the best driving road in the world, and the automaker would have you believe that it is the most purely focused driver's ute in the world. To that end, the Stelvio boasts a perfect 50/50 front-to-rear weight distribution, a fast 12.0:1 steering ratio, and an all-wheel-drive system that's tuned to send 100 percent of the engine's power to the rear wheels whenever possible. All of those bits add up to an SUV that's genuinely fun to drive on winding roads. Think of the Stelvio as an Alfa Romeo Giulia with a suspension lift kit that puts you 2.5 inches higher off the tarmac. Yes, those stilts mean the crossed-over Alfa isn't quite as sharp as the Giulia, but the Stelvio isn't at all dimwitted. It's a true Alfa Romeo, in spirit and in execution, right down to its standard carbon-fiber driveshaft. The Stelvio shares its 111-inch wheelbase and its double-wishbone front and Alfa Link rear suspension systems with the Giulia. That's not to say that the Stelvio drives as well or looks as good as the Giulia. The crossover is 2 inches longer and 8.9 inches taller than the sedan from which it was born. We got the feeling that we were sitting on top of the car's chassis instead of within it, which is due entirely to the high seating position that American drivers are so fond of. And whereas the Giulia wears its sheetmetal like a slinky little black dress, the Stelvio's Scudetto front fascia and Trilobo air intakes are stretched over a much larger frame and its sides are sculpted in a more masculine way. Still, the Stelvio is an attractive beast, inside and out. It's unmistakably Italian, which is to say well-tailored with an impeccable form that influences but begrudgingly follows function. Leather seating surfaces are standard. From the driver's seat, the dashboard is dominated by two binnacles housing the tachometer and speedometer. In between is an LCD display that shows a bunch more relevant information. A second screen in an exaggerated widescreen format houses the bespoke infotainment system from Magneti Marelli. That LCD's unique shape makes it look smaller than the Stelvio's competitors, especially as its pinched height makes the backup camera image appear pretty small.