1976 Alfa Romeo Spider Veloce Convertible 2-door 2.0l on 2040-cars

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Stellantis earnings rise along with EV sales

AMSTERDAM — Automaker Stellantis on Wednesday reported its earnings grew in 2022 from a year earlier and said its push into electric vehicles led to a jump in sales even as it faces growing competition from an industrywide shift to more climate-friendly offerings. Stellantis, formed in 2021 from the merger of Fiat Chrysler and FranceÂ’s PSA Peugeot, said net revenue of 179.6 billion euros ($191 billion) was up 18% from 2021, citing strong pricing and its mix of vehicles. It reported net profit of 16.8 billion euros, up 26% from 2021. Stellantis plans to convert all of its European sales and half of its U.S. sales to battery-electric vehicles by 2030. It said the strategy led to a 41% increase in battery EV sales in 2022, to 288,000 vehicles, compared with the year earlier. The company has “demonstrated the effectiveness of our electrification strategy in Europe,” CEO Carlos Tavares said in a statement. “We now have the technology, the products, the raw materials and the full battery ecosystem to lead that same transformative journey in North America, starting with our first fully electric Ram vehicles from 2023 and Jeep from 2024.” The automaker is competing in an increasingly crowded field for a share of the electric vehicle market. Companies are scrambling to roll out environmentally friendly models as they look to hit goals of cutting climate-changing emissions, driven by government pressure. The transformation has gotten a boost from a U.S. law that is rolling out big subsidies for clean technology like EVs but has European governments calling out the harm that they say the funding poses to homegrown industry across the Atlantic. Stellantis' Jeep brand will start selling two fully electric SUVs in North America and another one in Europe over the next two years. It says its Ram brand will roll out an electric pickup truck this year, joining a rush of EV competitors looking to claim a piece of the full-size truck market. The company plans to bring 25 battery-electric models to the U.S. by 2030. As part of that push, it has said it would build two EV battery factories in North America. A $2.5 billion joint venture with Samsung will bring one of those facilities to Indiana, which is expected to employ up to 1,400 workers. The other factory will be in Windsor, Ontario, a collaboration with South KoreaÂ’s LG Energy Solution that aims to create about 2,500 jobs. The EV push comes amid a slowdown in U.S.

Fiat Chrysler's Q3 profit boosted by strong North American earnings

MILAN, Italy — Fiat Chrysler Automobiles (FCA) reported a 17 percent jump in third-quarter adjusted operating profit on Tuesday, helped by a strong performance in its key North American market and improving operations in Europe and Latin America. The world's seventh-largest carmaker still makes the lion's share of its profits in North America, so improving, or at least maintaining, its margins there is a key focus. The carmaker reported an 8 percent adjusted operating profit margin in the region, up from 7.6 percent a year ago, despite a drop in sales and shipments. "FCA's profitability in North America remained strong in the quarter despite a weakening market there," a Milan-based analyst said. FCA's profitability compares with an 8.3 percent North America margin reached in the quarter by bigger U.S. rival GM , showing CEO Sergio Marchionne making progress towards his goal of closing the margin gap with GM and the company's other U.S. rival, Ford, by 2018. The company's confirmation of its full-year outlook also pushed shares higher, a trader added. The stock was up 2.8 percent by 1129 GMT, outperforming a 1 percent rise in the European auto index. FCA has been retooling some U.S. factories to boost output of sport-utility vehicles (SUVs) and trucks while ending production of some unprofitable sedans to strengthen profitability as the U.S. car market comes off its peak. The company said a drop in North America shipments due to lower fleet sales and discontinued models was partially offset by higher deliveries of Ram trucks and two models from the Alfa Romeo stable: the Stelvio sport utility vehicle and Giulia sedan. Profitability also improved in Europe, helped by sales of the Stelvio and the new Jeep Compass, and Latin America, while margins at Maserati remained strong at 13.8 percent due to strong demand for its first SUV, the Levante. In a later conference call, investors are looking for hints on the new strategy to 2022 which the company promised to unveil early next year. Chief Executive Sergio Marchionne said earlier this year that FCA would streamline its portfolio and that components businesses, including Magneti Marelli, would be separated from the group, possibly via a spin-off. While FCA confirmed its targets this year, doubts remain about its exposure to a weakening U.S. market, recall costs and potential fines over emissions after it was targeted by European and U.S.

Alfa Romeo Giulia, Stelvio to get special editions, one more refresh

Alfa Romeo has made its plans perfectly clear. It’s going EV, and that means that the Giulia and Stelvio as they exist today with powerful gasoline engines will eventually cease to exist. However, weÂ’re still a few years away from that electric future, so Alfa has a little time to play its current models out with style. We asked senior VP of Alfa Romeo Larry Dominique what we should expect from Giulia and Stelvio in between now and the switch to electric, and he was happy to give us a glimpse at whatÂ’s ahead. “So what weÂ’ve done is develop these buzz models,” Dominique tells us. “The first one is the Estrema, which weÂ’ve already announced and weÂ’re launching it with 2023 production in May. This fall, weÂ’re going to start talking about other things like a Lusso Edition and Competizione Edition and things like that.” WeÂ’ve already heard about the Estrema, but the Lusso Edition and Competizione Edition are both new. The Lusso, if Alfa remains consistent, will likely be a luxury-centered version of the Giulia and Stelvio. ItÂ’s the Competizione that has our attention. Similar to the Estrema, this model sounds like it would be directed toward enthusiasts and feature some performance upgrades. “So weÂ’re going to look at these different components, different parts, QV parts on a Veloce and things like that,” Dominique said. “Unique color combinations and unique colors.” Adding QV (Quadrifoglio) parts to non-Quadrifoglio models is a similarly enticing proposition. We can hope that it comes to pass, because this would result in some rather aggressive-looking Giulias and Stelvios that donÂ’t come with a Quadrifoglio price. Looking into the somewhat more distant future, Dominique says that the current generation Giulia and Stelvio will get one final refresh for the 2024 model year.  “In 2024 model year, weÂ’re going to have a final minor change for Stelvio and Giulia,” Dominique continued. “So youÂ’re going to see some changes visually inside and outside, associated with that. And weÂ’ll continue with the buzz model strategy, even though we have the 2024 change coming at the same time.” If youÂ’re a Giulia or Stelvio fan (as we tend to be), this final refresh car is bound to be a desirable one. Instead of dwindling away without any attention, Alfa is singing its gas-powered Giulia and Stelvio out with a little love before theyÂ’re officially put out to pasture in favor of electric models.