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Stellantis says its 2021 performance has been better than expected

MILAN — Stellantis softened up investors ahead of its electrification strategy event on Thursday by flagging that 2021 got off to a better-than-expected start despite a chip shortage that has hit automakers worldwide. Stellantis, which was formed in January from the merger of Italian-American automaker Fiat Chrysler and France's PSA, faces an investor community keen to hear how it plans to come up with a range of electrified vehicles (EVs) to rival Tesla. At its "EV Day 2021" kicking off at 1230 GMT, Stellantis will disclose significant investments in electrification technology and connected software as it aims to be an industry frontrunner, it said in a statement. In April, Chief Executive Carlos Tavares said it would offer low-emission versions — either battery or hybrid electric — of almost all of its European models by 2025, and they should make up 70% of European sales and 35% of U.S. sales by 2030. Stellantis, the world's fourth-biggest automaker, has 14 brands in its stable, including Jeep, Ram, Opel, Fiat, Peugeot and Maserati.   Stellantis EV Day coverage: Dodge will launch the 'world's first electric muscle car' in 2024 Fully electric Ram 1500 will begin production in 2024 Jeep will have 4xe plug-in hybrid models across the lineup by 2025 Stellantis teases mystery electric Chrysler concept Stellantis previews 4 electric platforms: Here's how they'll be used Fiat says all Abarth models to be electric from 2024 Opel Manta E will be the electric revival of the classic German coupe Stellantis says its 2021 performance has been better than expected   At a similar EV strategy event last week, French rival Renault announced that 90% of its main brand models would be all-electric by 2030, whereas previously it had included hybrids in its target. Germany's Volkswagen, the world's second-biggest automaker after Toyota, expects all-electric vehicles to make up 55% of its total sales in Europe by 2030, and more than 70% of sales at its Volkswagen brand. Stellantis said its margins on adjusted operating profits in the first half of 2021 were expected to exceed an annual target of between 5.5% and 7.5%, despite production losses due to a global shortage of semiconductor supplies. Stellantis shares listed in Milan were down 2.6% at 0920 GMT, underperforming the broader European car index. Bestinver analyst Marco Opipari said Thursday's news was positive but that the stock was suffering from profit taking as it had moved up about 20% since the end of April.

China-FCA merger could be a win-win for everyone but politicians

NEW YORK — Fiat Chrysler boss Sergio Marchionne has said the car industry needs to come together, cut costs and stop incinerating capital. So far, his words have mostly fallen on deaf ears among competitors in Europe and North America. But it appears Marchionne has finally found a receptive audience — in China. FCA shares soared Monday after trade publication Automotive News reported the $18 billion Italian-American conglomerate controlled by the Agnelli family rebuffed a takeover from an unidentified carmaker from the Chinese mainland. As ugly as the politics of such a combination may appear at first blush, a transaction could stack up industrially, and perhaps even financially. A Sino-U.S.-European merger would create the first truly global auto group. That could push consolidation to the next level elsewhere. Moreover, China is the world's top market for the SUVs that Jeep effectively invented, so it might benefit FCA financially. A combo would certainly help upgrade the domestic manufacturer; Chinese carmakers have gotten better at making cars, but struggle to build global brands, and they need to develop export markets. Though frivolous overseas shopping excursions by Chinese enterprises are being reined in by Beijing, acquisitions that support the modernization and transformation of strategic industries still receive support, and the government considers the automotive industry to be strategic. A purchase of FCA by Guangzhou Automobile, Great Wall or Dongfeng Motors would probably get the same stamp of approval ChemChina was given for its $43 billion takeover of Syngenta. What's standing in the way? Apart from price (Automotive News said FCA's board deemed the offer insufficient) there's the not-insignificant matter of politics. Even as FCA shares soared, President Donald Trump interrupted his vacation to instruct the U.S. Trade Representative to look into whether to investigate China's trade policies on intellectual property. Seeing storied Detroit brands like Jeep, Chrysler, Ram and Dodge handed off to a Chinese company would provoke howls among Trump's economic-nationalist supporters. It might not play well in Italy, either, to see Alfa Romeo and Maserati answering to Wuhan instead of Turin — though Automotive News said they might be spun off separately. Yet, as Morgan Stanley observes, "cars don't ship across oceans easily," and political considerations increasingly demand local manufacture of valuable products.

2017 Alfa Romeo Giulia Ti

It is the cover car of the moment for enthusiast publications across the country. And the introduction of the 2017 Alfa Romeo Giulia Quadrifoglio deserves the notice. With it Fiat Chrysler Automobiles marks the real return of Alfa Romeo sales and service to the North American market. Alfa's two-seater – the 4C – preceded it, but the target market for those coupes and roadsters could be fitted into a commuter jet. The new Giulia is aimed at the midsize sport sedan audience currently occupied by the BMW 3 Series, Mercedes-Benz C-Class, and Audi A4. The sales potential is huge and historically underserved by Italian brands. While the Giulia Quadrifoglio, with its 505 horsepower and track-ready suspension gets the ink, we think it's the more pedestrian Giulia sedan that's deserving your attention. And by pedestrian we don't mean prosaic; the Giulia is an exciting sedan built atop a competent platform and propelled by a responsive turbocharged drivetrain. With a base price in real-wheel-drive form (all-wheel drive is optional) of under $40,000, the Giulia is accessible in a way the $72,000 Quadrifoglio is not. On Alfa's Build Your Own site we studied the options, selecting an upgrade with Alfa's Giulia Ti. It constitutes a $2,000-bump over the Giulia's $38,000 base, and gives you 18-inch alloy wheels (vs. the 17-inchers on the standard Giulia). The Ti also provides dark gray oak interior accents and the availability of both Sport and Lusso (luxury) appearance packages. Other adds included the Vesuvio Gray exterior ($600), additional leather interior trim ($995), the Ti Performance package ($1,200) and the Ti 18-inch Sport Package ($1,750). The Sport package adds more aggressive alloy wheels, paddle shifters, and aluminum pedals, while Performance supplied the active suspension and limited slip differential. The end result is a net price of $45,535 including applied offers. We think we'd lease it. In talking with an Alfa dealer in suburban Washington, an advertised lease special on a $44,000-Giulia resulted in 39 payments at just over $500 per month, with roughly $7,500 out of pocket and a residual value of $21,239. At the end of that 39 months you have the option of returning the car to FCA or buying it for the residual. We think the Giulia, with an MSRP of between $40,000 and $50,000, is a screaming deal. And to buy your own 'used' car at the end of three years for $21,000? That's a crazy good deal. Related Video: