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Macron and Le Pen decry 'shocking' Stellantis CEO pay

PARIS — French President Emmanuel Macron and his far-right challenger in the French presidential vote, Marine Le Pen, on Friday both decried as “shocking” the multimillion euro payout to the CEO of carmaker Stellantis. Stellantis CEO Carlos TavaresÂ’ remuneration package of 19.15 million euros just a year after the company was formed became an issue as Macron and Le Pen campaigned ahead of the April 24 runoff vote. Polls show purchasing power and inflation are a top voter concern. Stellantis was formed last year through the merger of PSA Peugeot and Fiat Chrysler Automobiles. Centrist President Emmanuel Macron, perceived by many voters as being too pro-business, called the pay package “astronomical” and pushed for a Europe-wide effort to set ceilings on “abusive” executive pay. “ItÂ’s shocking, itÂ’s excessive,” he said Friday on broadcaster France-Info. “People canÂ’t have problems with purchasing power, difficulties, the anguish theyÂ’re living with, and see these sums. Otherwise, society will explode.” Far-right leader Marine Le Pen, who enjoys support from many working-class voters, called for bringing in more workers as shareholders. “Of course itÂ’s shocking, and itÂ’s even more shocking when it is the CEOs who have pushed their society into difficulty,” she said Friday on BFM television. “One of the ways to diminish this pay, which is often out of proportion with economic life, is perhaps to allow workers in as shareholders.” Stellantis continued to back the package despite a 52.1% to 47.9% vote rejecting it at an annual shareholders' meeting chaired from the Netherlands, where the company is legally based, on Wednesday. The company, citing Dutch civil code, noted that the vote is advisory and not binding. The company later said in a statement that it took note of the vote, and will explain in an upcoming 2022 remuneration report “how this vote has been taken into account.” In the 2021 report, the company identified peer group companies that it used as a salary benchmark, including U.S. companies like Boeing, Exxon Mobile, General Electric as well as carmakers Ford and General Motors. Stellantis, whose brands include Peugeot, Fiat, Jeep, Opel and Maserati, reported net profits last year had tripled to 13.4 billion euros ($15.2 billion). The French government is the third-largest shareholder in Stellantis, with a 6.15% stake through the Bpifrance Participations S.A. French public investment bank.

Bid on the very first Maserati Ghibli Spyder [w/video]

In reviving the Ghibli nameplate, Maserati may have applied it to a sedan this time around. But the original Maserati Ghibli was a coupe – and as anyone who knows their history of exotic Italian automobiles will tell you, it also bred a convertible. What you see here is the first example, and now it's going up for auction during Monterey Car Week. Maserati only built 128 examples of the Ghibli Spyder, designed by Giorgetto Giugiaro for Ghia, making it a highly sought-after roadster and an icon of its time. This Ghibli – bearing chassis number AM115/S 1001 – wasn't merely one of them. It was the factory prototype, the one which the Modenese automaker displayed at both the Turin Motor Show in 1968 and the Geneva Motor Show in '69. The production models that followed featured some subtle changes, particularly to the trunk, filler caps, and door handles. But rather than hold on to the prototype, Maserati sold this yellow show car when it was done with it. The roadster was bought by one Ruggiero Capuano in 1969, who had it for six years before selling it to Libero Girardi, an Italian-American and Ferrari mechanic in Rhode Island, who in turn transferred ownership to John Ferro, his son-in-law. Ferro drove it for over a decade before putting it in storage for the better part of 30 years. Its current owner bought it from Ferro, took it out of storage, and put it on the concours circuit, picking up numerous trophies along the way. Having been properly stored, the Ghibli Spyder never required much restoration, and remains in highly original condition. That ought to make it a hot item even among the other notable lots that RM Sotheby's has lined up for Monterey this year. Though the auction house isn't saying how much it expects the prototype to sell for, Sports Car Market records that a Ghibli Spyder (also in yellow) was sold by Artcurial in Paris last year for over $1 million. Considering the provenance and condition of this prototype, we'd expect it to sell for even more. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 1968 Maserati Ghibli Spyder Prototype - AM115/S 1001 View 41 Photos News Source: RM Sotheby'sImage Credit: Darin Schnabel/RM Maserati Auctions Convertible Concept Cars Classics Pebble Beach RM Sotheby's maserati ghibli

Maserati to halt production for one week in November

When it comes to selling cars, exciting new product is king. This is a fact Maserati is learning the hard way as it struggles to hit aggressive internal sales targets set by its Fiat Chrysler Automobiles ownership. And now a report from Reuters indicates that Maserati will be forced to shutter its Grugliasco plant near Turin, Italy, for one full week in November. Rewind back to 2013 and things were looking really good at Maserati. The brand had rolled out a new version of its four-door flagship, the Quattroporte, a smaller and somewhat more accessible sedan one rung below in the form of the Ghibli, and a new line of twin-turbo engines in both six- and eight-cylinder guises. A sales spike seemed imminent. That's exactly what appeared in 2014, as Maserati topped our end-of-the-year sales chart with a monster 171-percent gain in the United States when compared to the year prior. Like we said, product is king. The first signs of trouble brewing at Maserati rose into our consciousness in January of 2015, as, here in the States, the Italian brand took a monster nosedive in sales. That month's 20-percent decline would prove no anomaly, as February's 43-percent decline would attest. For the next few months of 2015, sales remained basically flat as allegations of shady sales accounting practices hit the news. In September, the last month sales data is available, the brand saw a drop of nearly 34 percent. How does Maserati expect to fix its lagging sales? Exciting new product, naturally, this time in the form of the long-awaited, highly anticipated Levante crossover. While Maserati's history is full of grand-touring coupes and four-door sedans, CUVs are all the rage right now. In other words, as long as the Levante isn't terrible, it really ought to bring the brand's sales back to 2014 levels. Following the Levante, Maserati has promised a new coupe based on the design of the Alfieri Concept it showed off at the 2014 Geneva Motor Show, and that will surely bring another hefty dose foot traffic into showrooms as the next product wave. FCA is banking on turning Maserati from a niche player into a meaningful contributor to its sales chart. If that plan has any hope of turning into a reality, it's clearly going to take a lot more shiny new product to make it happen. Here's hoping the Levante is the next positive step in that direction. Related Video: