2023 Alfa Romeo Giulia Sprint Rwd on 2040-cars

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CEO says Volkswagen's buying spree is over

After adding Italian motorcycle icon Ducati to its stable and spending $5.6 billion on the rest of Porsche, Volkswagen CEO Martin Winterkorn says he's done shopping for a while.
"We have enough to do at the moment in taking our twelve brands to where we want to be," Winterkorn tells German newspaper Handelsblatt.

Alfa Romeo Giulia police cars will save lives

Oh look, it's another Italian performance vehicle turned into a police car. Evildoers beware, right? Not exactly. As much as we'd love to picture an Alfa Romeo Giulia chasing down bank robbers through the streets of Milan this newest addition to the Italy's national police fleet will be used for less thrilling purposes. Instead of chasing down speeders, two copies of new Giulia Quadrifoglio will transport organs and blood for emergency medical use, as well as serve ceremonial escort cars. The police version here adds the usual cop goodies like radios and lights, a portable defibrillator, LED flashlights in the doors, and one of those round signaling flags that Italians seem to love. There no mention of a cop motor or cop brakes, but that's probably not necessary. 'The Quadrifolgio tops the 2017 Alfa Romeo Giulia lineup with a 505 hp twin-turbo V6 capable of 0 to 60 mph in 3.8 seconds. When it eventually goes on sale in the US later this year or early next year, prices will range from around $40,000 for the base model to $70,000 in Quadrifoglio trim. Related Video: Featured Gallery Carabinieri Alfa Romeo Giulia Quadrifoglio police car View 9 Photos Alfa Romeo Luxury Police/Emergency Performance Sedan police car alfa romeo giulia

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.