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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

Experience the Woodward Dream Cruise in a Dodge Challenger Hellcat

While Autoblog was consumed by coverage of the increasingly important Monterey Car Week last weekend, there was another big even going on. The Woodward Dream Cruise is significantly lighter in terms of news, but there's no denying that it's a far bigger, and far more egalitarian than what the wine-and-cheese crowd experience on the links at Pebble Beach. The Dream Cruise crams tens of thousands of cars and over a million spectators along a four-lane ribbon of asphalt between Ferndale and Pontiac, MI. What's remarkable aren't these numbers, though, so much as the distances they travel. Owners and admirers come from far and wide, across the United States and in some cases across the globe, to take in the spectacle. This year, local radio and television coverage featured fans that traveled from Japan, Australia, and Europe, just to take in the cruise. Of course, we realize that not everyone can make the pilgrimage to Woodward Avenue. With that fact in mind, we decided to bring a bit of the Dream Cruise to Autoblog with a time-lapse video of the cruise route. You can experience the good (a Lamborghini Gallardo, Chevrolet Chevelle, and Oldsmobile Cutlass 442), the bad (the traffic jams), and the ugly (no, your 2003 Ford Focus does not qualify as a classic, get the hell out of the cruiser lanes). So join us, as we turn off 8 Mile Road behind the wheel of our 2015 Dodge Challenger SRT Hellcat and run north, through Ferndale, Pleasant Ridge, Royal Oak, Huntington Woods, Berkley, Bloomfield Township, and Bloomfield Hills, before ending up on Wide Track Drive in Pontiac.

We cruised Woodward in the 2015 Dodge Challenger SRT Hellcat [w/video]

We were definitely rock stars at the 20th edition of the Dream Cruise.
The yell came from somewhere in the crowd: "Hey Hellcat, push it!" We obliged with a jab of the throttle, and the 707 horses of the 2015 Dodge Challenger SRT Hellcat roared to life. It went on like this. All weekend. It's one thing to attend the Woodward Dream Cruise, it's quite another to star in it.