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Stellantis won't race to split electric vehicles from fossil fuel cars

MILAN - Stellantis is not considering splitting its electric vehicle (EV) business from its legacy combustion engine operation, its finance chief said on Thursday, as the carmaker presented above-expectation revenue data for the first quarter. Chief Financial Officer Richard Palmer told analysts he did not see huge benefits in the kind of separations pursued by rivals such as France's Renault and U.S. Ford. "We need to manage the company and the assets we have through this transition," he said. "There are benefits to having the cash flow being generated by the internal combustion business for the investments we need to make." Palmer said the group, formed by a merger last year of Fiat Chrysler and Peugeot maker PSA, was not averse to considering adjusting its structure "but we aren't anticipating any big changes." Palmer's comments came after the world's fourth largest carmaker said its net revenue rose 12% to 41.5 billion euros ($44.1 billion) in the January-March period, as strong pricing and the type of vehicles sold helped offset the impact of the semiconductor shortage on volumes. That topped analyst expectations of 36.9 billion euros, according to a Reuters poll. Milan-listed shares were up 0.5% by 1415 GMT, in line with Italy's blue-chip index. The impact of the chip crunch was evident in the decline in shipment figures which fell 12% in the quarter to 1.374 million vehicles. It was a similar story for Germany's BMW which posted higher revenues on Thursday and a decline in car sales. Riding the Recovery Stellantis, whose brands also include Citroen, Jeep and Maserati, confirmed its 2022 forecasts for a double-digit adjusted operating income margin, after 11.8% last year, and a positive cash-flow despite supply and inflationary headwinds. Morgan Stanley analysts said after the results that Stellantis had better management than many peers and benefited from its significant exposure to a stronger U.S. economy and a European recovery from the COVID-19 pandemic. They also said it was less affected by a slowing Chinese economy. Palmer said it was important for the group to maintain double-digit margins and keep delivering positive cash flows. "A 12% increase in revenue with a 12% decrease in volumes indicates a very strong performance on price and mix, which augurs well for our margin performance," he said. He said semiconductor supply problems were expected to ease this year with continued improvements in 2023.

Alfa Romeo Giulia leaks early

The new Alfa Romeo Giulia is set to debut June 24, but the eagle-eyed folks at CarScoops already found these two somewhat blurry shots of the upcoming sedan. While there's unfortunately no photo of the front, these images give an idea of what to expect from Alfa's future four-door challenger to the BMW 3 Series and Mercedes-Benz C-Class. According to CarScoops, this is the Quadrifoglio Verde performance trim, and the blurry profile images certainly appear to show that insignia on the front fender. Don't worry about the mouthful of a name, though, because the far less vowel-filled Cloverleaf moniker is reportedly being used in some markets. Beyond the badge, this crimson Giulia has a short deck at the rear and large fender flares. Vents cut into the fenders also communicate the model's sporty intentions. The rear shot shows angular taillights and dual exhausts nestled in a diffuser down below. The Giulia badge is clearly visible, and there's a contrasting black lip spoiler running along the edge of the trunk. A set of black wheels completes the performance-tuned look. For now, hard facts about the Giulia's mechanical details remain largely a mystery. The engine range reportedly includes a V6 with some relation to Ferrari that possibly pumps out around 480 horsepower, and a turbocharged four-cylinder might also be available. Some portions of the chassis are rumored to be borrowed from the Maserati Ghibli, as well. A crossover sharing the same platform may join Alfa's lineup in 2016. Related Video:

2019 Alfa Romeo Stelvio Quadrifoglio Review | Heck of a third impression

The 2019 Alfa Romeo Stelvio Quadrifoglio does not make a good second impression. The first impression? A-OK, as you approach its distinctive Alfa face, admire its tight proportions and wonder why someone would paint it something other than Alfa Rosso. It's so definitely not German, which counts for a lot should you live in a neighborhood where everyone drives a black BMW or silver Audi. That this Stelvio costs $94,340 seems steep, but at least it has the looks to back it up. Then you pull the door handle and the action is eerily reminiscent of a Dodge Dart. The door opens and the sound and feel are just a bit hollow. You sit down inside and press a button, any button, or turn a knob. The plastic feels cheap and the action is flimsy. It's basically the exact opposite of what you get in an Audi or Porsche. Even their touch-sensitive controls emit a hearty click. Car journalists may go on about "soft-touch materials" in cars, but it’s the switchgear that one ultimately interacts most with. If the volume knob feels Fisher-Price, who cares that the dash and just about every other interior surface is covered in leather? To be fair, the Alfa's cabin is indeed covered as such, and since this is the Quadrifoglio, it gets green and white stitching with carbon fiber trim. It certainly doesn't look cheap, even if it definitely feels it and sounds like it given the duo of distinctive rattles that had already developed in a press car with a mere 3,400 miles on it. There's also the infotainment system, which is highlighted by an 8.8-inch screen that doesn't take good advantage of its sizeable real estate. There's a control knob with accompanying Menu and Option buttons. It's better than Lexus Remote Touch, but that's a bar previously used at a corgi agility competition. Rival systems are easier to use (not to mention FCA's own Uconnect touchscreen) and appear more state-of-the-art (because they are). It's very possible that a prospective luxury SUV shopper would stop right there, never even bothering to go on a test drive. If they'd just come from a Porsche, Audi or BMW store, it's particularly easy to see that happening. Of course, it's the test drive where the Alfa Romeo Stelvio Quadrifoglio makes its third and best impression. It's as sizzling and wild as you might have heard. The delicacy and immediacy of the controls are immediately noticed.