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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

Maserati Alfieri Concept lands on US shores ahead of 2016 production model

America, meet the next sports car from Maserati. This is the Alfieri Concept, and it made the trip from Europe to make its US debut during the 2014 Monterey Car Week.
The two-door originally made its debut at the 2014 Geneva Motor Show, and has since made an ear-pleasing visit to the UK before it arrived at today's Rolex Monterey Motorsports Reunion at Mazda Raceway Laguna Seca.
For those that need a refresher, the Alfieri is a 2+2 that will, when it arrives in 2016, be available with a 410-, 450- or 520-horsepower V6, with the latter two power levels coming with an all-wheel-drive system. The Alfieri Coupe will be joined by a convertible in 2017.

Maserati plans to launch Alfieri and GranTurismo by 2018

Maserati reportedly aims to have the next GranTurismo and the Alfieri (concept above) on the market by the end of 2018. According to Drive, we should see the GT sometime in 2017, and the production Alfieri doesn't arrive until 2018. The company's five-year plan in 2014 originally slated the Alfieri to arrive first in 2016 and the GranTurismo in 2018. The Alfieri will have a modified version of Maserati's current chassis, but the tweaks will incorporate more aluminum, which will make the new sports coupe lighter. "Today the architecture is shared between Ghibli, Quattroporte, and Levante," Maserati engineer Davide Danesin told Drive. "With the Alfieri we think we need to make another step on the architecture so we're going to arrive at another more sporty architecture, with some common basis but with development from there." The Alfieri and GranTurismo will also likely use Maserati's latest turbocharged V6 and V8 engines. However, the power will only go to the rear wheels because the company doesn't think all-wheel drive is right for them. "So let's say for the next sports car we don't foresee all-wheel drive to be the best option for the style. We also have some solution for some sports cars with all-wheel drive for the future but that is not what we're working on now," Danesin told Drive. After the stunning concept in 2014, the longer wait for the production Alfieri is disappointing, but at least the model appears to be still on the way. Recent rumors suggested the 2+2 sports coupe was on hold because of the weakening market in China. Company boss Harald Wester also refused to speculate about the model's future at the Geneva Motor Show, but he said the GranTurismo would arrive first. Related Video: