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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

Junkyard 1983 Dodge Rampage has Franco-American roots

Lee Iacocca and the K-Cars get most of the credit for saving Chrysler after the company's 1979 bailout by the US government, but the success of the Simca-derived Omnirizon platform was a large, if overlooked, component of Chrysler's early-1980s resurgence. The Dodge Omni and Plymouth Horizon were sold in the United States for the 1978 through 1990 model years, and variants included the 1983-1987 Dodge Charger and the Rampage, this well-worn example of which I spotted in a Denver self-service wrecking yard last week. The early Omnirizons came with a Volkswagen-sourced 1.7-liter engine, but all of the Rampage pickups (and their near-identical Plymouth Scamp siblings) came from the factory with a 2.2-liter K-Car engine making 96 horses. This truck has a 4-speed manual transmission, which would have made it reasonably quick by Malaise Era standards. This one had plenty of body filler and rust, even before the crash that sent it on that final tow-truck ride to this place, so it wouldn't have been worth restoring. Still, we can hope that some of its parts will live on in other L-body trucks. Related Video: Featured Gallery Junked 1983 Dodge Rampage in Denver View 16 Photos Chrysler Dodge Automotive History Truck Classics dodge rampage

Leno recalls '90s showdown with Tim Allen and his mullet

Not many of us have buddies with garages full of classic cars, but that isn't the case for Jay Leno and Tim Allen. Of course, one of the advantages for two guys with such vast collections is occasionally getting to pit their cars against each other. The two comedians did just that in the mid-'90s with a burnout battle on The Tonight Show between Allen in a race-prepped Mustang and Leno in a drag racer. After some time away from regular television, Leno is returning to the airwaves with a Jay Leno's Garage series premiering on Oct. 7 (tonight) at 10:00 p.m. ET on CNBC. Let this clip serve as another taste of what to expect for the new TV show's mix of comedy and cars. After reminiscing about the old days in a gorgeous garage, the comedians get into two modern machines to reprise the classic challenge – after a little trash talk anyway. Don't worry because the YouTube series isn't going anywhere, though.