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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.

Alfa Romeo goes hatchback-free after axing the Giulietta

Alfa Romeo exited the hatchback segment by ending production of the Giulietta, a Volkswagen Golf-sized model introduced in 2010. It's planning on filling the void in its range with a city-friendly crossover in the coming years. Honored with a heritage-laced nameplate, the Giulietta made its debut in Milan as Alfa Romeo celebrated its 100th birthday. Executives considered selling it in the United States but decided to keep it on the other side of the pond, though its basic platform underpinned the short-lived Dodge Dart. In its home country, the hatchback was positioned as a premium model that reflected the firm's upmarket ambitions. It slotted beneath the Giulia. Stylists made several visual tweaks to the Giulietta during its 10-year life cycle, and they managed to keep it looking relatively fresh. It's a different story inside, where the 2020 model feels about as old as it is. Alfa Romeo's earlier hatchbacks — including the 147 — spawned high-performance variants that still raise eyebrows several decades after their launch, but the Giulietta never received the full go-fast treatment. Over the course of its production run, engine options ranged from a 104-horsepower 1.4-liter turbo four to a 1.8-liter four-cylinder turbocharged to 240 horsepower. Front-wheel-drive was the only configuration offered. Over 400,000 units of the Giulietta were manufactured in Italy between 2010 and 2020. The final example was made shortly before Christmas, according to French website Caradisiac. We don't know what it looks like or where it's off to. Alfa could choose to put it in its collection, or it might send it to an unsuspecting dealer. The news comes a couple of weeks after news that the slow-selling Alfa 4C Spider was among the cars that won't be coming back in 2021. Alfa Romeo Tonale View 9 Photos What's next? Rumors claimed Alfa Romeo would develop a rear-wheel-drive successor to the third-generation Giulietta built on a shortened version of the Giulia's platform. Had it been launched, this model would have undoubtedly become the enthusiast's choice in its segment, especially because the BMW 1 Series went front-wheel-drive. We don't know if the reports were accurate, but what's certain is that a new Alfa Romeo hatchback is not around the corner. Instead, the Giulietta's spot in the range will soon be occupied by the production version of the Tonale concept (pictured above) introduced during the 2019 edition of the Geneva auto show.

Alfa Romeo Giulia is the sexiest starlet in LA

Generally, there's a fair amount of debate about what the best-looking car at any given auto show may be. We, however, humbly submit that for the 2015 LA Auto Show, there's no point in arguing – it's the Alfa Romeo Giulia. Here on US soil for the first time, the troubled Italian brand unveiled the stunning sedan that will herald Alfa Romeo's long-awaited return to the North American market. The handsome red four-door is more or less what we've seen before. That means a thundering 2.9-liter, twin-turbocharged V6 that develops 505 horsepower and 443 pound-feet of torque. No matter where you're from, that qualifies as "a lot." But unlike the Alfa we saw in Milan, there's more to talk about than the top-flight Quadrifoglio model. Alfa let slip that following the fire-breather's arrival, the sedan would also get a more modest 2.0-liter turbo, capable of producing 276 horsepower. Following that, all-wheel drive will join the options list alongside standard rear-wheel drive. We've got a fresh batch of live images of the stylish Italian. Have a look, and then scroll down for a refresher on Alfa's original press release. Related Video: Created With the 'Mechanics of Emotion,' the All-new 2017 Alfa Romeo Giulia Quadrifoglio Delivers Italian Style With Benchmark-level Performance and Precision to the Premium Mid-size Sedan Segment - Built in Italy, the Giulia Quadrifoglio Delivers Class-leading 505 Horsepower, 0-60 in 3.8 Seconds and a Record-setting 7:39 Nurburgring Lap Time – the Fastest Ever by a Four-door Production Sedan - Alfa Romeo – the heart and soul of the automotive industry – is returning to the U.S.