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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

2022 Chrysler Pacifica gets price hike, starts at $38,160

Mopar Insiders says its Chrysler dealer contacts gave the outlet a glimpse at what's coming for the 2022 model year. The most important change to the Pacifica range — we're not including the Voyager and Pacifica Hybrid in this — is the addition of a front-wheel-drive model to the penultimate Limited and top Pinnacle trims. Both are available only with all-wheel drive at the moment, so the change will lower their MSRPs when next year's models arrive on lots. There are a few price increases, however, so the savings won't be as large as one might wish. Pricing for the range based on info from MI's dealer sources, including the $1,495 destination charge, and the increase compared to 2021, is: Pacifica Touring: $38,160 ($845) Pacifica Touring L: $41,785 ($1,170) Pacifica Touring L AWD: $44,780 ($1,170) Pacifica Limited FWD: $49,815 (new for 2022, $495 less expensive than the 2021 Limited AWD) Pacifica Limited AWD: $52,410 ($2,100) Pacifica Pinnacle FWD: $54,270 (new for 2022, $1,320 less expensive than the 2021 Pinnacle AWD) Pacifica Pinnacle AWD: $56,865 ($1,275) Across the range, all the minivans get a rear seat reminder safety alert and the Stellantis Clean Air Filtration System that acts like the minivan's wearing an N95 mask, capturing 95% of particulates in the air including bacteria, allergens, and pollen. Looks like Chrysler's going to start charging for certain exterior colors on a reduced palette. There are ten colors now, all of which are free. Next year there will be seven, and only Bright White, Brilliant Black, and Ceramic Grey will be no charge. Granite Crystal and the new Silver Mist, which replaces Billet Silver, will cost $95. And Fathom Blue and Velvet Red will cost $395.  The entry-level Touring pulls the opposite trick from the Limited and Pinnacle, losing its AWD option. Driving the rear axle cost an extra $2,995 on this trim, perhaps why Chrysler said only 2% of Touring buyers chose the option this year. Next year's Touring gets the Cold Weather Group, with features like heated front seats and a heated steering wheel, as standard equipment. That option cost $495 this year and its inclusion might be responsible for the trim's price increase.  The Touring L gets the makes this year's optional $995 Safety Sphere Group standard equipment for next year. That installs features like ParkSense for front, parallel, and perpendicular parking, and a 360-degree surround view camera.

Question of the Day: Most heinous act of badge engineering?

Badge engineering, in which one company slaps its emblems on another company's product and sells it, has a long history in the automotive industry. When Sears wanted to sell cars, a deal was made with Kaiser-Frazer and the Sears Allstate was born. Iranians wanted new cars in the 1960s, and the Rootes Group was happy to offer Hillman Hunters for sale as Iran Khodro Paykans. Sometimes, though, certain badge-engineered vehicles made sense only in the 26th hour of negotiations between companies. The Suzuki Equator, say, which was a puzzling rebadge job of the Nissan Frontier. How did that happen? My personal favorite what-the-heck-were-they-thinking example of badge engineering is the 1971-1973 Plymouth Cricket. Chrysler Europe, through its ownership of the Rootes Group, was able to ship over Hillman Avanger subcompacts for sale in the US market. This would have made sense... if Chrysler hadn't already been selling rebadged Mitsubishi Colt Galants (as Dodge Colts) and Simca 1100s as (Simca 1204s) in its American showrooms. Few bought the Cricket, despite its cheery ad campaign. So, what's the badge-engineered car you find most confounding? Chrysler Dodge Automakers Mitsubishi Nissan Suzuki Automotive History question of the day badge engineering question