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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

Sergio rethinks FCA-GM merger idea, dismisses critics

After many public overtures, Fiat Chrysler Automotive CEO Sergio Marchionne has claimed his company won't be making a hostile takeover bid for General Motors. This is despite widespread speculation that FCA's desire to merge was motivated by its allegedly dire situation. As one unnamed GM exec who spoke to Automotive News earlier this year put it, "Why should [GM] bail out FCA?" "We are not choking. We are in relatively decent shape," Marchionne told journalists attending an FCA shareholder meeting in Amsterdam, AN reports. "We have been publicly rebuffed, we have been rejected and you cannot force these things. I don't want to. At the moment, we have no intention to do anything hostile." Instead of focusing on merging with GM, or any other partners for that matter, FCA will refocus on implementing its ambitious five-year investment plan, which would see it dump $52 billion into its various brands, with a particular focus on Alfa Romeo, Maserati, and Jeep. So far the attempt has largely been unsuccessful, especially as it relates to the Italian brands. Earlier this week, additional reports emerged that claimed Alfa was pushing back the Giulia and an unnamed CUV while reassigning resources to updated versions of the Giulietta and MiTo hatchbacks. This is not the first time we've heard about trouble for the Giulia, of course. For Masearti, though, it was the first we'd heard of delays for Alfieri sports car, which allegedly won't appear in 2016, as promised. We can expect a proper breakdown of FCA's adjusted plans when Marchionne and Company reveal an updated product slate next month. Related Video: The video meant to be presented here is no longer available. Sorry for the inconvenience. News Source: Automotive News - sub. req.Image Credit: Paul Sancya / AP Alfa Romeo Chrysler Fiat GM Jeep Maserati Sergio Marchionne FCA

2023 Chrysler Pacifica Review: Hybrid is still the one to get, but it's pricey

Pros: Unique plug-in hybrid; versatile Stow ‘n Go seats; great entertainment features; good looks Cons: No cheaper base trim; top trims and Hybrid are really expensive; less-comfy second-row Stow ‘n Go seats The 2023 Chrysler Pacifica represents the seventh year of this latest generation of ChryslerÂ’s minivan, which is usually a year past when a car would be completely redesigned. Despite this advanced age, the Pacifica was so well done from the get-go that it remains fully competitive, and in Hybrid form, one of our top choices in the admittedly small minivan segment. Key updates two years in particular ensured that its in-car tech remained just as state-of-the-art and well-executed as itÂ’s always been. Indeed, if thatÂ’s a priority, the Pacifica should be at the top of your list. Ditto fuel economy, because with its plug-in hybrid powertrain and 32 miles of electric range, itÂ’s possible for the Pacifica Hybrid to best even the sensationally efficient, hybrid-only Toyota Sienna. This efficiency is a key reason why that pair represents our top minivan choices, as they can save you $1,000 or more versus V6-only vans (including the regular Pacifica) in gas per year. That said, we put the Sienna on top in a comparison test because of price, and the scales have only tipped further since then after Chrysler jacked the price up by about $8,000 in the last two model years. The base Pacifica Hybrid is now more than $50,000 with the Pinnacle living up to its name with a price tag over $60,000. The $7,500 federal tax credit should help, but itÂ’s unclear at this point if it'll still apply in calendar year 2023. Basically, we really like the Pacifica Hybrid, but the economics might be tricky. So could finding one at a dealer given supply, demand and potential mark-ups.   Interior & Technology   |   Passenger & Cargo Space   |   Performance & Fuel Economy What it's like to drive   |   Pricing & Trim Levels   |   Crash Ratings & Safety Features What's new for 2023? The Pacifica gets a new Road Tripper package for 2023. Available on the Touring L trim levels of both gas and hybrid versions, it adds special graphics and wheels in Luster Gray with orange highlights. ThereÂ’s also “Granite Crystal” exterior trim, all-weather floor mats and a roof rack (though itÂ’s unclear whether its different than the PacificaÂ’s usual Stow ‘n Place rack). The gas-only version also includes the Trailer Tow group.