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Stellantis expects strike to cost it $795 million in third-quarter profits

MILAN — Automaker Stellantis said Tuesday that the autoworkers strike in North America is expected to cost the company around 750 million euros ($795 million) in profits — less than its North American competitors. The Europe-based maker of Jeep, Fiat and Peugeot reported a 7% boost in net revenues to 45.1 billion euros, with production halts caused by the strikes costing the company 3 billion euros in sales through October. The net revenue boost was due to higher volumes in all markets except Asia. Chief Financial Officer Natalie Knight told journalists that StellantisÂ’ strike impact was lower than the other Big Three automakers due to its global profile as well as some high-profile cost-cutting measures, calculating the hit at around 750 million euros ($795 million.) GM, the last carmaker to reach a deal to end the strike, reported an $800 million strike hit. Ford has put its impact at $1.3 billion. “We continue to be in a very strong position globally and in the U.S. This is an important market for us, and weÂ’re highly profitable and we are very committed to our future," Knight said. “But mitigation is core to how we act, and how we proceed.” Stellantis has canceled appearances at the CES technology show in Las Vegas next year as well as the LA Auto Show, due to the strike impact. Stellantis on Saturday reached a tentative agreement with the United Auto Workers Union to end a six-week strike by more than 14,000 workers at its assembly plants in Michigan and Ohio, and at parts warehouses across the nation. Stellantis does not report full earnings for the third quarter, instead providing shipments and revenues. It said that global sales of electric vehicles rose by 37% over a year earlier, powered by the Jeep Avenger and commercial vehicle sales. North America continued to be the revenue leader, contributing 21.5 billion euros, an increase of 2% over last year, and representing nearly half of global revenues. Europe, the next biggest performing region, saw revenues grow 5% to 14 billion euros, as sales rose 11%. Related video: Earnings/Financials UAW/Unions Alfa Romeo Chrysler Dodge Fiat Jeep Maserati RAM

Four-leaf clovers, hybrid Hondas and the next automotive downturn | Autoblog Podcast #561

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor Alex Kierstein and Associate Editor Reese Counts. The group discuss the Alfa Romeo Stelvio Quadrifoglio, the Mercedes-Benz CLS 450 and the Honda Clarity PHEV Alex has been driving in Seattle. They also discuss the future of the auto industry, how customer tastes and needs are changing and what might happen if the world faces another economic downturn. Finally, we spend your money.Autoblog Podcast #561 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Alfa Romeo Stelvio Quadrifoglio Mercedes-Benz CLS 450 Honda Clarity PHEV The next automotive downturn Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:

2019 Alfa Romeo Giulia Quadrifoglio Review | As good as you imagine

When you affix words to a car such as “Alfa Romeo,” “Quadrifoglio,” “twin-turbo,” and “Ferrari-derived,” youÂ’re setting up some pretty serious expectations. Add to that a price tag thatÂ’s near the top of its segment, as with our 2019 Alfa Romeo Giulia Quadrifoglio, and those expectations creep ever higher to a point that seems hard to fulfill. But IÂ’m happy to report the Giulia passes with flying tricolores. ItÂ’s intensely fast, incredibly nimble, and surprisingly playful and approachable. ItÂ’s one of the most fun supersedans. Of course, the headline feature of the Giulia Quadrifoglio is that twin-turbo V6 based on a Ferrari engine, and it certainly deserves the hype. It generates a massive 505 horsepower and 443 pound-feet of torque. ThatÂ’s more power (though less torque) than the mighty Mercedes-AMG C 63 SÂ’s V8. Power comes on smoothly and only grows stronger with revs until the limiter kicks in. Lag is practically non-existent, and the exhaust note, though a bit blatty inside, generates a low, gritty howl outside thatÂ’s fitting for a slinky Italian sedan. The only thing preventing the powertrain from being the unquestionable class champion is the transmission. This is strange, since itÂ’s the vaunted ZF eight-speed automatic, but it shifts slowly for such a sporty car. At least itÂ’s smooth, and the huge metal shift paddles are a delight. As for the GiuliaÂ’s chassis, itÂ’s marvelous with no caveats. What stands out is its playful demeanor. It keeps you informed of every move it makes, even throwing in a bit of Miata-like body roll. The steering isnÂ’t quite as talkative, but is more so than many of its competitors, especially BMW, and itÂ’s lightning-quick and weighted well. To cap it off, the car is highly stable, even on rough pavement, and the wide tires offer tremendous grip. The ride can occasionally be bumpy, but never harsh. ItÂ’s well-balanced. At this point it's also worth noting that the character of the Giulia can be altered substantially with the drive mode selector. The settings are "Race," "D," "N" and "A," with the latter standing for "Dynamic," "Normal" and "Advanced Efficiency." Race and Dynamic are the sportiest with the quickest throttle response, loud exhaust, and more lenient traction settings, and they set the suspension to the firm setting by default. But the suspension can be switched back to the normal setting by pressing the shock absorber button.