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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

Get a peek at the Dodge Demon in the new Fate of the Furious trailer

Will all of the news that comes out, Thursdays should now be referred to as Demon Days (no relation to the 2005 album by Gorillaz), at least until April. In addition to this morning's news on the Dodge Demon's Launch Assist and beefed-up components, the automaker released a trailer/commercial for The Fate of the Furious that shows a Dodge barrage and a few quick looks at the new car. The film, which opens days after the Demon's debut at the 2017 New York International Auto Show, is packed full of Dodge, SRT, and FCA products. While the few cars shown in the garage look superficially like Demons, they appear to just be standard Hellcats – the hood is wrong, and they are missing the fender flares. On the other hand, the ones in the trailer's chase scene appear to be the real deal, or at least made to look like it, with the big AirGrabber hood scoop and wide-body fender flares. We've seen a few of these cars already on the film's set, so this is no real surprise. The ad itself is a bit strange. The shots of the woman standing in front of the SRT lineup appear to be cut into footage from the film, so she's not actually talking to the cast in these scenes. That's why a narrow-body car bursts through the wall and becomes a wide-body Demon-like thing. Well, the Fast and Furious franchise was built on bad dialog and over the top car stunts, so par for the course? The film debuts on April 14, and expect the Demon around that time, too. Related Video: News Source: Dodge/YouTube TV/Movies Dodge Performance dodge demon dodge hellcat the fate of the furious

Thieves stealing Dodge and Ram vehicles right off factory lots

Stellantis-operated storage lots in and around Detroit have been hit by a wave of thefts in recent weeks. Thieves are getting their hands on new, high-end models such as the Dodge Challenger Hellcat by going straight to the source, helping themselves, and driving off. Detroit news channel WDIV Local 4 reported that over half a dozen new cars and trucks have been stolen from various storage lots since the beginning of 2022. On March 10, five Ram trucks were taken from a secured facility in Shelby Township. Several more Ram trucks were stolen on March 8, and one smashed into a semi truck's trailer as it attempted to get away. On March 3, thieves took three Dodge Challenger Hellcat models from a lot in Auburn Hills. And, on February 28, a Jeep Grand Cherokee Trackhawk and a Dodge Challenger Hellcat were stolen from a lot near the Jefferson North assembly plant. Many of the vehicles that thieves are targeting cost nearly $100,000. Stealing a new car from a storage lot is reportedly easier than it might sound. Citing anonymous sources, WDIV explained that the keys are normally left inside of the vehicles while they're parked on the storage lot, waiting to be dispatched to dealers. Security guards patrol the property, yet the thieves are finding ways to sneak into the lot, hop in a car, and drive off by ramming through the gates. Stellantis told the news channel that the Sterling Heights Police Department is investigating the thefts, and that at least one of the lots is managed by a third-party company. It declined to comment on the number of vehicles stolen or the methods used because the investigation is ongoing. In the meantime, the Sterling Heights Police Department plans to send extra patrol cars to the areas around the storage lots. There's no word on whether the missing cars have been found. And, this isn't the first time that thieves have stolen new V8-powered Dodge and Ram vehicles in the Detroit area. In October 2021, thieves stole four cars from a Dodge and Ram dealership about an hour away from Detroit; one was a rare 2021 Durango SRT Hellcat. All four cars were recovered, though the Durango was stuffed into a wall. And, in May 2018, eight Ram trucks were stolen from a factory in Warren, Michigan, by thieves who got away by driving through the main gates.