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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.

2023 Alfa Romeo Giulia Estrema bridges the Quadrifoglio gap

Alfa Romeo is expanding the 2023 Giulia range with a model named Estrema that was developed for driving enthusiasts. Also available on the 2023 Stelvio, the Estrema trim level bridges the gap between the Veloce variants of both cars and the high-performance Quadrifoglio. "Estrema" is Italian for "extreme," and in this case it denotes a car that — in Alfa Romeo's words — was designed for "a connoisseur of driving." The list of standard features grows with the addition of a limited-slip rear differential and the adaptive Alfa Active Suspension system for both comfort and performance. These updates may not sound major, but they should make a perceptible difference on the kind of twisty roads that the Estrema models were created for. Car-spotters will be able to pick out the Estrema versions in a crowded parking lot by looking for carbon fiber exterior accents (including the piece of trim that underlines the grille), specific wheels that measure 19 inches on the Giulia and 21 inches on the Stelvio, dark "Estrema" emblems and black brake calipers. Inside, there's more carbon fiber, red contrast stitching and a blend of leather and Alcantara upholstery.  The Estrema models aren't any more estrema under the hood than the versions that they're based on. The only engine available in the United States is a 2.0-liter four-cylinder turbocharged to deliver 280 horsepower and 306 pound-feet of torque. Rear-wheel-drive and an eight-speed automatic transmission come standard on the Giulia, though Alfa Romeo's Q4 all-wheel-drive system is available at an extra cost, and the Stelvio is exclusively offered with all-wheel-drive. With the Q4 system, the Giulia reaches 60 mph from a stop in 5.1 seconds. On sale now, Alfa Romeo's Estrema models are scheduled to reach dealers across the nation in the third quarter of 2022. Buyers have four colors to choose from: Alfa White, Alfa Rosso, Misano Blue, and Vulcano Black. Pricing is set at $56,685 for the rear-wheel-drive Giulia, $58,685 for the all-wheel-drive model, and $60,545 for the Stelvio. Note that these figures include a mandatory $1,595 destination charge. Related Video:

Alfa Romeo is bringing something deliciously loud to Geneva

Alfa Romeo will risk running afoul of Switzerland's engine noise regulations by bringing something deliciously loud to the 2020 Geneva Motor Show. The preview video it posted on Twitter asks more questions than it answers. The seven-second flick announces that Alfa Romeo, one of Italy's oldest automakers, is about to make "a momentous comeback." It displays the company's logo, notes the location of its booth in the Palexpo convention center, and ends on the sound of what we're pretty sure is a V6 engine exploring the upper echelons of its rev range. There's no mention of which car the six-cylinder is in, let alone whether it's new or updated. sound on See you at #GIMSSWISS. #AlfaRomeo pic.twitter.com/yIUPYEiTkj — Alfa_Romeo (@alfa_romeo) February 22, 2020 This is where facts end and speculation begins. Alfa planned to expand its range with a two-door version of the Giulia that would have resurrected the GTV name and a flagship sports car tentatively called 8C, but both models were allegedly canceled in 2019. The 4C is nearing the end of life cycle, so the odds of seeing a new variant of it are low. Besides, its engine bay is far too small to house a six-cylinder engine like the Giulia's 2.9-liter unit. Before the teaser video emerged, we expected Alfa's next new model would be the production version of the Tonale concept unveiled at the 2019 edition of the Geneva show. The crossover is well on its way to production, and its front end has changed quite a bit in the past 12 months, but we don't think it will reach showrooms with a race car-like exhaust note; electrified technology will likely make it one of the quieter members of the Alfa lineup. This leaves us with two credible possibilities. First, rumors of a more powerful Giulia positioned above the Quadrifoglio model have floated around the internet for years and they plainly refuse to die. It would likely wear the heritage-packed GTA nameplate and arrive as a more track-oriented sedan in the vein of Mercedes-AMG's Black Series cars. If that's the case, expect copious carbon fiber, a stripped-out interior, and a full body kit. Second, Alfa could simply kick off its 110th birthday celebrations in Geneva by showing a concept built to mark the occasion. We'll know for sure when the show opens its doors to the press on March 3. Related Video:     Geneva Motor Show Alfa Romeo Luxury Performance