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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

Alfa Romeo 4C coupe will be gone for 2019, but the Spider lives on

This post has been updated with confirmation from Alfa Romeo. Not with an expensive bang, but a barely audible whimper: That's the way Alfa Romeo's 4C sports coupe goes out. The slow-selling mid-engined car has been cut from the lineup for next year. An Alfa Romeo spokesperson has confirmed to Autoblog that the 4C coupe will be gone from Alfa's U.S. portfolio after the 2018 model year. It will remain for sale in this country while supplies last, and will still be produced for other markets around the world. View 12 Photos The 4C never sold in enormous numbers during its 2014-on tenure, but monthly sales have slowed down to just a couple dozen cars in the past year. In January, 12 were sold, with October 2017 a particular high point with 45 units delivered. By contrast, the strongest month was January 2015 with 97 4Cs sold. Not a single month has seen three-figure U.S. sales. Those sales figures seem to cover both 4C models, so we can only assume the coupe was the weaker part of those numbers. However, if a 4C is what you want, you don't have to give up on the dream. The open-topped Spider version remains on sale, but Motor Authority reports that it gets a $1,000 price hike for next year, to $66,900; at $55,900 the coupe was $10,000 cheaper than the open version, so those wanting one should act on it quickly. In addition, the racing-oriented Track Package will be unavailable after 2018. That included handling improvements like sturdier sway bars and better shocks, along with sportier wheels and tires. Related Video: Related Gallery 2018 Alfa Romeo 4C Competizione: Geneva 2018 View 11 Photos News Source: Motor AuthorityImage Credit: FCA Alfa Romeo Car Buying Coupe Performance alfa romeo 4c alfa romeo 4c spider

Alfa Romeo to unveil compact crossover in Geneva, report says

Last year, Alfa Romeo outlined its five-year plan, which calls for reviving both the 8C and GTV as high-performance hybrids and plans for new utility vehicles to bookend the Stelvio. Now, a report from Autoblog.gr (no relation) says the Fiat Chrysler brand will show its long-rumored compact SUV to slot underneath the Stelvio at the Geneva Motor Show next month. The Greek website did not identify its source but says the compact SUV will be built on the Giorgio platform that underpins the Giulia and would contribute to the brand's goals of hitting 400,000 annual sales. The Geneva Motor Show kicks off March 5. FCA is investing $5.7 billion in its under-utilized Italian plants to ramp up production of Jeep, Fiat and Maserati models, plus the new Alfa Romeo compact SUV to be built in Pomigliano, Italy. But those plans, which were reported by Automotive News Europe, had the new Alfa compact ute built on the platform underpinning the Jeep Compass, which was also set to start production in Melfi, Italy. A plug-in hybrid version of the Alfa is also reportedly in the picture, which squares with the brand's plans to expand its offerings of electrified powertrains to six PHEVs. Last we heard, Alfa Romeo was planning to launch its largest-yet SUV as a seven-seater, based on the Giorgio platform, as a mild hybrid.