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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 Ghibli reportedly dies in 2023

When Maserati debuted the Ghibli sedan at the 2013 Shanghai Motor Show, the executive tourer was meant to establish itself as a sporty alternative to the BMW 5 Series set and help Maserati increase its global sales eightfold. Neither of those happened. The product push didn't materialize, and the Ghibli failed at its task because it never managed to be the smooth, dynamically masterful Italian it could have been, its rough edges inexcusable in a sedan that once started at about $76,000 and is now nearly $80,000 after destination. Even so, we never wished the Ghibli ill, we wished Maserati would sort it out. That's not going to happen, according to Automotive News. The outlet's product page for the Ghibli says, "Production is expected to continue through 2022 on the sedan, which will not be replaced." Assuming this happens and the Ghibli takes a final ride into the sunset in 2023, it will have had ten years on the market. The model launched Maserati's electrification push, the Ghibli Hybrid and its 48-volt mild-hybrid system coming online last year but not for sale in the U.S. market. At the same time, the model finally acquired the raucous V8 one would have expected at launch or shortly after, in the guise of the Trofeo trim we do get.   Like all other automakers, though, Maserati has a huge to-do list over the next five years, and it can't coddle laggards. Last year, the automaker's product roadmap called for a pile of new and new-generation models. The MC20 flagship is out, the Grecale crossover is due early next year in ICE and battery-electric forms, followed by the new GranTurismo and GranCabrio with ICE and EV powertrains, plus the MC20 Spider and pure-electric MC20. In 2023, the new Quattroporte will return that nameplate's former glory as the only sedan in the lineup, followed by a new Levante, both with internal combustion and electric powertrains. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Maserati MC20 supercar plays in the snow

Maserati bringing new sports car concept to Geneva?

Maserati is in the midst of a major product overhaul. The Quattroporte was recently redone, the Ghibli is a fresh new model and the Levante crossover is still in the pipeline. But what about its two-door line? Surely Maserati hasn't forgotten about those, right?
Not according to the latest gossip, it hasn't. Word has it that in celebration of its centenary this year, the Trident marque is preparing a new sports car concept to unveil at the Geneva Motor Show. Apparently smaller than the aging GranTurismo, the new concept is said to take aim at the Jaguar F-Type - not to mention the Porsche 911.
According to GTSpirit, the concept could pack the Modenese automaker's new twin-turbo V6 or V8 engines, but no matter how many cylinders, it's understood we're likely looking at a front-engine/rear-drive layout and an automatic transmission.