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Singapore car salesman jailed for gambling away $280k Maserati deposit

Kenny Rogers' country classic The Gambler is right about two things: you gotta know when to hold'em and know when to fold'em. A former Maserati salesman in Singapore is learning that lesson about when to step away from the table, after being sentenced to 33 months in prison for allegedly gambling away a customer's deposit of 350,000 Singapore dollars ($280,800).
According to Asia One, Allan Tan Buan Yuen was selling a Maserati in 2011. He told the customer that the car would take six months to arrive and cost 650,000 Singapore dollars ($522,000). While that may sound high, cars in the Asian country are notoriously expensive.
Yuen asked for a deposit of 150,000 Singapore dollars ($120,400), but instead of handing the money to the dealer, he placed the funds in his own account. Apparently, the customer didn't notice, and over the next few months Yuen received an additional 200,000 Singapore dollars ($160,400) towards the car from him. Clearly, this ruse couldn't last forever, though. When the buyer eventually inquired about his Maserati months later, Yuen admitted that he had already gambled away the entire fortune.

2019 Maserati Levante GTS First (Wet) Drive Review | A brief taste of a Ferrari-flavored SUV

If it rained any harder, someone would've had to scrounge up an extremely old man to build a giant ship and start herding animals. Lake Huron is dryer. My shoes were still unwearably soggy the next day. So, not exactly the best environment to sample the 550-horsepower, V8-powered leviathan of a performance SUV known as the 2019 Maserati Levante GTS. Sure, it has all-wheel drive and a limited-slip rear differential, but those are traction aids, not magic. In any event, our time with the "lesser" of two V8-powered Levantes would be limited, compromised and extremely damp, but several laps around the M1 Concourse in Pontiac, Mich., nevertheless provided a taste of what one might expect under better conditions. Chiefly, you can expect noise. Beautiful, beautiful noise. Even with our heads and ears encased in helmets, the V8 sang a nasty warbling wail. Though built by Ferrari in Maranello, the 3.8-liter twin-turbo V8 doesn't build to the expected screaming Italian crescendo – it's deeper, more muscular and still deeply invigorating. You'd undoubtedly drive like a buffoon just to hear the thing. Second gear may be popular. Maserati Levante GTS View 8 Photos Stuffing a V8 into the Levante was never originally intended. It was only supposed to have a V6. Nevertheless, a group of engineers secretly took it upon themselves to see if they could fit the Quattroporte GTS' V8 into the Levante, because why not? Turns out they could and in the process, even beef up the engine. Rather than being lambasted by their bosses for going rogue on their little skunkworks project, Maserati instead green-lit not one but two V8-powered Levantes: the 550-hp GTS and 590-hp Trofeo. See, screwing around at work does have its benefits. The differences between GTS and Trofeo are largely horsepower, some minor cosmetic differences, and the Trofeo's extra standard equipment and heftier price tag. Respectively, that would be $121,475 and $171,475. The priciest V6-powered Levante S GranSport goes for $93,475. Maserati Levante Trofeo View 13 Photos Maserati didn't stop with the engine, however. The chassis was tuned to handle all those extra prancing horses, and while suspension componentry is shared with the rest of the line, tuning is specific for the V8's. The Sport Skyhook adaptive damping system was also retuned, while the air springs feature six different height levels spanning a total of 3 inches from its lowest to highest position.

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