Vintage 1979 Alfa Romeo Spider Veloce on 2040-cars

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Alfa Romeo abandoned the Spider to focus on crossovers

As much as enthusiasts like to forget or deny it, automakers are in the business of making money, and sometimes that means doing things that seem counter to a brand's image or history. Alfa Romeo, for example, is attempting to make a comeback in the US. The make has a long history of making sporty vehicles, so news that Alfa has ceased plans on some new cars in order to focus on crossovers should be disappointing, but far from surprising. The new Fiat 124 Spider, based on and build alongside the Mazda Miata, was originally supposed to be a new Alfa Romeo Spider. A while back, Fiat Chrysler Automobiles CEO Sergio Marchionne has said that as long as he's in charge, Alfas will be built in Italy. That seemed to be reasoning enough for the new car's switch to Fiat, but Automotive News is reporting that the company actually abandoned the new Spider in order to build SUVs. The Spider isn't the only vehicle that appears to be off the table. While the new BMW 3 Series-sized Giulia is set to hit dealers later this year, larger sedans meant to compete against the 5 Series and 6 Series have been axed. Alfa's first crossover, the Stelvio, is expected to debut later this year. The company has plans for a Giulia-based crossover as well. A lot of this seems counter to Alfa and FCA's five-year plan that was announced fewer than three years ago. Then, the 400,000 annual sales target worldwide by 2018 powered by Italian-designed and -built engines. In actuality, the company has struggled to get even the Giulia to market, delaying everything else in its wake. Related Video:

Stellantis sees vehicle loan durations extended amid banking turmoil

Stellantis is seeing clients seeking longer-term financing and leasing deals for their vehicles as a consequence of higher global interest rates, the carmaker's head for the business said. Chief Affiliates Officer Philippe de Rovira said loans which normally had a three-year maturity were now increasingly moved to four years. "This allows customers to get a car for a monthly instalment that is similar to that they had before," he said. The world's third largest carmaker by sales on Tuesday announced it had completed a plan announced in late 2021 to reshuffle and simplify its leasing and financing operations in Europe. Under its terms, Stellantis created a 50-50 single long term multi-brand leasing company named Leasys with Credit Agricole Consumer Finance. It also set up local joint ventures in European countries for its new Stellantis Financial Services unit, formerly Banque PSA Finance, with BNP Paribas Personal Finance and Santander Consumer Finance. "These banks have always had better funding conditions than those we can have as an automaker," de Rovira said. Benefits of the plan included cutting the number of financing and leasing entities the group runs in each country and the number of IT systems it uses, with expected savings exceeding 30% in this particular area, he added. De Rovira said the group had a huge portfolio of orders it had not yet delivered due to supply chain shortages impacting production. "Demand is not our main issue. The issue is to deliver as fast as we can cars that are in our order portfolio, which is still at record levels," he said. The group aims to expand its corporate leased vehicle fleet to more than one million units in 2026 and to double net income from its so-called banking activities to 5.8 billion euros ($6.3 billion) by 2030. De Rovira said Stellantis was not seeing a downward trend in vehicle pricing. "Probably the significant price increases we have seen in 2021 and 2022 will not be repeated because the context is changing, but for the moment we don't see decreases, we see stabilisation". ($1 = 0.9188 euros) (Reporting by Giulio Piovaccari and Gilles Guillaume; Editing by Jan Harvey) Earnings/Financials Plants/Manufacturing Alfa Romeo Chrysler Dodge Jeep RAM

Abarth SP 1000 factory restomod entering very limited production

In May 2021, Abarth created a one-off roadster to celebrate the brand's racing history, called the Alfa Romeo Abarth 1000. Based on the Alfa Romeo 4C Spider, this was a factory-made callback to the 1966 Fiat Abarth 1000 Sport Prototipo, a highly successful competition car designed for gentlemen racers who wanted to do more than just show up, but who wanted to win. The UK's Auto Italia magazine tweeted that FCA Heritage chief Roberto Giolito said the carmaker would produce at least five customer units of the new Abarth 1000, with a price of around GBP170,000 each ($228,500 U.S.) Details beyond that must wait for the February issue of Auto Italia, due to hit newsstands on January 6 for UK readers.  If this happens, it could close the circle on what the 4C was originally meant to be. Legend says the idea for the carbon-tubbed 4C should have spawned a hardcore Fiat that channeled the 1966 Abarth 1000. However, since the 4C took many of its cues and much of its technology from the limited-edition Alfa Romeo 8C Competizione, it stuck to being a halo sports car for Alfa Romeo and all other branchings got pruned. Giolito likely reveals more in the interview, seeing as he was head of Fiat and Abarth design from 2011 to 2015. The reboot suits the modern 4C save for the high, 21st-century shoulder line. The 1966 car's low pointy nose, curvy fenders and myriad vents and scoops fit great, and we also dig the exposed roll bar and cut-down rear cowls. For such an expensive restomod, we might have wished for some mechanical changes. It appears there's no change to the 4C's mechanicals, with a 1,742-cc turbocharged four-cylinder sending its 237 horsepower to the rear wheels through a six-speed dual-clutch transmission. As such, this should probably be called the Abarth 1740 SP or 1700 SP rather than 1000, since the original was named after the displacement of the modified Fiat 600 engine it used. The original weighed 1,058 pounds dry and had 105 horsepower; the 2,465-pound production 4C won't feel as spry, but should perform a little better. Once British readers get the skinny from the magazine interview, we should know more.