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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

One-off Maserati GranTurismo models celebrate the brand's past and future

The new Maserati GranTurismo is headed to the 2023 Milan Design Week to show off some of the different outfits it can wear. The Italian company's Fuoriserie department, which handles one- and few-off requests from customers, prepared a pair of one-of-a-kind coupes. Maserati calls the Design Week-bound models GranTurismo One Off Prisma and GranTurismo One Off Luce, respectively. "Prisma" means "Prism" in Italian (coincidentally, the name also appeared on a three-box version of the original Lancia Delta) while "luce" translates to "light" (as in, what the sun emits, not how you'd describe a Mazda MX-5 Miata). Both will be difficult to miss if you're walking around the show floor. Designed as a celebration of Maserati's past, present, and future, the Prisma is painted in no less than 14 different colors. Two of those colors look to the future, according to the carmaker, while the remaining 12 are colors that were offered on the GranTurismo's predecessors. Amaranto — a purple-ish color — was available on the 1947 A6 1500, and Oro Longchamps was offered on the 1973 Khamsin. Once the colors were applied to the body, over 8,500 letters that spell the name of historic Maserati models were applied by hand to create a second layer. At the other end of the spectrum, the Luce (shown above) represents Maserati's future. It's not as colorful as the Prisma but it's equally eye-catching: it features a mirror-like finish, a laser-etched pattern, and a color that the company describes as being "almost absent." We're told that this treatment makes the contours of the car blend into their surroundings, though so far we've only seen a sketch of the car — it likely looks quite a bit different when you're standing in front of it. Maserati used a recycled type of nylon called EcoNyl throughout the interior. Maserati hasn't announced what the future holds for the two design studies. They might join the company's collection, or they could end up in a lucky collector's garage. As for the regular-production model, it's scheduled to reach showrooms across the nation this month with a twin-turbocharged, 3.0-liter V6 and a base price set at about $174,000. The next-generation GranCabrio convertible isn't far behind. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

NHTSA, IIHS, and 20 automakers to make auto braking standard by 2022

The National Highway Traffic Safety Administration, the Insurance Institute for Highway Safety and virtually every automaker in the US domestic market have announced a pact to make automatic emergency braking standard by 2022. Here's the full rundown of companies involved: BMW, Fiat Chrysler Automobiles, Ford, General Motors, Honda, Hyundai, Jaguar Land Rover, Kia, Mazda, Mercedes-Benz, Mitsubishi, Nissan, Subaru, Tesla, Toyota, Volkswagen, and Volvo (not to mention the brands that fall under each automaker's respective umbrella). Like we reported yesterday, AEB will be as ubiquitous in the future as traction and stability control are today. But the thing to note here is that this is not a governmental mandate. It's truly an agreement between automakers and the government, a fact that NHTSA claims will lead to widespread adoption three years sooner than a formal rule. That fact in itself should prevent up to 28,000 crashes and 12,000 injuries. The agreement will come into effect in two waves. For the majority of vehicles on the road – those with gross vehicle weights below 8,500 pounds – AEB will need to be standard equipment by September 1, 2022. Vehicles between 8,501 and 10,000 pounds will have an extra three years to offer AEB. "It's an exciting time for vehicle safety. By proactively making emergency braking systems standard equipment on their vehicles, these 20 automakers will help prevent thousands of crashes and save lives," said Secretary of Transportation Anthony Foxx said in an official statement. "It's a win for safety and a win for consumers." Read on for the official press release from NHTSA. Related Video: U.S. DOT and IIHS announce historic commitment of 20 automakers to make automatic emergency braking standard on new vehicles McLEAN, Va. – The U.S. Department of Transportation's National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety announced today a historic commitment by 20 automakers representing more than 99 percent of the U.S. auto market to make automatic emergency braking a standard feature on virtually all new cars no later than NHTSA's 2022 reporting year, which begins Sept 1, 2022. Automakers making the commitment are Audi, BMW, FCA US LLC, Ford, General Motors, Honda, Hyundai, Jaguar Land Rover, Kia, Maserati, Mazda, Mercedes-Benz, Mitsubishi Motors, Nissan, Porsche, Subaru, Tesla Motors Inc., Toyota, Volkswagen and Volvo Car USA.