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Stellantis says its 2021 performance has been better than expected

MILAN — Stellantis softened up investors ahead of its electrification strategy event on Thursday by flagging that 2021 got off to a better-than-expected start despite a chip shortage that has hit automakers worldwide. Stellantis, which was formed in January from the merger of Italian-American automaker Fiat Chrysler and France's PSA, faces an investor community keen to hear how it plans to come up with a range of electrified vehicles (EVs) to rival Tesla. At its "EV Day 2021" kicking off at 1230 GMT, Stellantis will disclose significant investments in electrification technology and connected software as it aims to be an industry frontrunner, it said in a statement. In April, Chief Executive Carlos Tavares said it would offer low-emission versions — either battery or hybrid electric — of almost all of its European models by 2025, and they should make up 70% of European sales and 35% of U.S. sales by 2030. Stellantis, the world's fourth-biggest automaker, has 14 brands in its stable, including Jeep, Ram, Opel, Fiat, Peugeot and Maserati.   Stellantis EV Day coverage: Dodge will launch the 'world's first electric muscle car' in 2024 Fully electric Ram 1500 will begin production in 2024 Jeep will have 4xe plug-in hybrid models across the lineup by 2025 Stellantis teases mystery electric Chrysler concept Stellantis previews 4 electric platforms: Here's how they'll be used Fiat says all Abarth models to be electric from 2024 Opel Manta E will be the electric revival of the classic German coupe Stellantis says its 2021 performance has been better than expected   At a similar EV strategy event last week, French rival Renault announced that 90% of its main brand models would be all-electric by 2030, whereas previously it had included hybrids in its target. Germany's Volkswagen, the world's second-biggest automaker after Toyota, expects all-electric vehicles to make up 55% of its total sales in Europe by 2030, and more than 70% of sales at its Volkswagen brand. Stellantis said its margins on adjusted operating profits in the first half of 2021 were expected to exceed an annual target of between 5.5% and 7.5%, despite production losses due to a global shortage of semiconductor supplies. Stellantis shares listed in Milan were down 2.6% at 0920 GMT, underperforming the broader European car index. Bestinver analyst Marco Opipari said Thursday's news was positive but that the stock was suffering from profit taking as it had moved up about 20% since the end of April.

Vintage 1921 Alfa Romeo G1 rally car hits RM Sotheby’s

The only known surviving, fully operational example of Alfa Romeo's first commercial car is hitting the auction block at RM Sotheby's at its auction in Phoenix next month, when the 1921 G1 is expected to fetch up to $1.5 million. It's one of only 52 examples, including two prototypes, built between 1921 and 1923, and the only known surviving member of the series, stamped chassis No. 6018. It spent many years on a remote farm in Australia, during part of which the engine was put to work powering a water pump, before undergoing a restoration sometime in the mid-1960s. The G1 is powered by a 6.3-liter side-valve inline six that was said to have been designed with input from Enzo Ferrari, then a driver for the company, and was the largest motor ever fitted to an Alfa. It was based on two cast-iron three-cylinder blocks with fixed cylinder heads, a cylinder bore of 98 millimeters and a stroke of 140 mm to make 71 horsepower and 216 pound-feet of torque, with a top speed of 86 mph. It has a four-speed manual gearbox, which sends power to the rear axle through a single-dry plate clutch and an open driveshaft. The G1 was built to support Alfa Romeo's racing activities and was marketed to the same upscale clientele as Rolls-Royce, Hispano Suiza and others. A stripped-down version of the car won its production class at the Coppa del Garda, according to RM Sotheby's, but the production version suffered for being an expensive fuel guzzler at a time of economic and political chaos in Italy following World War I. So the company exported all 50 production versions to Australia (and possibly to South Africa), where this one was picked up by a Queensland businessman, who later went into bankruptcy and sent the car to a farm in the Outback to hide it from creditors. Ranch workers reportedly found it in the late '40s and used it as a farm runabout before the rear axle failed and the engine was used for the water pump. The remains of the G1 were acquired by a man named Ross Flewell-Smith, who would restore it over 10 years, including finding authentic replacement parts. It would undergo three full restorations in subsequent years.Related Video:

Alfa Romeo's Giulia Quadrifoglio gets the GTA treatment

Alfa Romeo will celebrate 110 years of building some of the world's most emotional driving machines with a brand-new Giulia Quadrifoglio GTA. GTA, which stands for "Gran Turismo Alleggerita," is a throwback to the 1965 Giulia Sprint GT, which first got the treatment. The new GTA and GTAm will elevate the Giulia's already driver-friendly formula to a whole new level.  If the plain-Jane Giulia Quadrifoglio is a BMW M3 or Mercedes-AMG C63 competitor, the GTA is your Competition or "S" variant, respectively. It boasts more power, less weight, enhanced aero, a revised suspension, and a reworked chassis and interior designed to keep the driver in place and focused on one task and one task alone: driving fast.  The wick on the GTA's 2.9-liter twin-turbocharged V6 has been turned up a bit, resulting in a new peak rating of 540 horsepower (up 30 from the base car). To reduce weight, Alfa replaced a host of exterior panels with carbon fiber equivalents. The carbon treatment extends to some other components, such as a the drive shaft. Alfa says the net reduction works out to 220 pounds.  Outside, the aero has been completely revised with technical know-how provided by Sauber Engineering (of F1 renown). It also boasts 20-inch center-locking wheels and a titanium exhaust system. Alfa replaced many of the suspension bushings, the shocks and the springs with performance-friendly hardware. The GTAm pushes the formula even farther. We hesitate to compare a sport sedan to a GT Coupe, but the relationship between GTA and GTAm is quite similar to that between the Porsche 911 GT3 and GT3 RS. Both are fundamentally the same car, but the latter compromises a great deal more of its daily drivability for the sake of improving its on-track feel and performance.  With the GTAm, this included a set of carbon-backed front bucket seats with six-point harnesses, Lexan window inserts for the side and rear windows, and a rear seat delete. In place of the rear bench, you get a harness bar attached to a structural roll hoop, plus a handy little cubby for storing your custom Bell helmet in Alfa's GTA livery (which comes with the car, as well as an Alpinestars race suit, gloves and shoes, and a personalized Goodwool car cover). Checking in at just 3,350 pounds, the GTAm boasts a power-to-weight ratio of 6.2 pounds per horsepower, which Alfa says is the best in the class, enabling a 0-60 run in just 3.6 seconds.