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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.

Lawsuit alleges Ferrari diagnostic tool used to roll back odometers

A longtime Ferrari salesman is accusing a Palm Beach dealership of using Ferrari's DEIS diagnostic tester tool to reset a 2015 LaFerrari's odometer, driving the supercar's value up by over $1 million. The lawsuit alleges that in October 2015, a technician at New Country Motor Cars reset the digital odometer of the LaFerrari in exchange for cash from its then-owner. What makes the lawsuit especially interesting is that it says using the DEIS tester to perform a rollback would require logging in with Ferrari North America, and alleges the technician was on the phone with Ferrari NA during the operation. The odometer-tampering allegation came up as part of the plaintiff's wrongful-termination claim against New Country Motor Cars. The lawsuit also alleges the tester has been used for this purpose beginning in April 2010, along with a written Ferrari policy manual and instructions and factory authorization, and was performed as recently as March 2015 during official Ferrari factory technician training in Italy. Odometer tampering is a dodgy business and a federal crime, no matter whether you're turning back the reading of an old taxi or a Ferrari worth millions. The lawsuit was first reported by the British Daily Mail, and subsequently covered by Jalopnik. The lawsuit has produced a countersuit by the owner of the LaFerrari in question.Related Video:

Novitec shows off its version of the Ferrari 812 Superfast

It's hard to imagine improving upon the unbelievable Ferrari 812 Superfast, but Novitec now offers a way to do just that. Performance upgrades to the 789 horsepower 6.5-liter V12 are scheduled to come later, but there's no shortage of things you can tack on now. To begin, Novitec developed an aero package using carbon fiber. Developed in a wind tunnel, Novitec claims its package reduces front-axle lift after fitment of the front spoiler lip and surround for the center air intake. Carbon fiber rocker panels, a rear spoiler lip and carbon fiber rear fascia are all fitted to complete the carbon aero look. Novitec offers a lowering spring package that takes it down 1.37 inches, but improved dampers are not paired with. Since it's lowered, a lift kit can be installed, which can raise the front end by 1.57 inches with the press of a button. You'll be wanting this to save the very expensive carbon front lip we mentioned earlier. Larger wheels are added with a staggered 21-inch-front and 22-inch-rear setup. Novitec goes to the trouble of using a separate dye for each wheel so the shape of the spokes are tailored to the specific corner of the car the wheel goes on. This is cool because not only do you get a minute gain in brake cooling, but you also get to brag about your wild wheel setup. A couple different exhausts are available to make the 812 Superfast even louder than it already is. The one you'll want is made of Inconel, which is the same stuff used in Formula 1. This exhaust saves just over 24 pounds over the stock Ferrari exhaust system. A version with controlled exhaust flaps is possible, as well. We wish we could tell you how much a Novitec 812 Superfast costs with everything on it, but prices aren't available for it yet. Needless to say, Novitec knows it's pricing them for Ferrari owners, so you can bet everything will be expensive. A base 812 Superfast goes for about $335,000, but we imagine there aren't many of those in the world. Related video: