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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.

2020 Ferrari F8 Tributo First Drive Review | Italian warp drive

MARANELLO, Italy — What's in a name? Quite a lot in the case of the new Ferrari F8 Tributo launched at this spring's Geneva Motor Show and on sale this winter at for delivery. Tributo is a tribute to the Ferrari V8 – though to nitpick here, Ferrari's first V8 was actually a Lancia, designed by Vittorio Jano for the 1950s D50 grand-prix cars, which were handed over to Enzo for a song when Lancia faced financial collapse. That said, the first road-going V8 Ferrari was the Dino GT4 of 1973. Either way, just four years after the launch of the 488 GTB, Ferrari felt it had license to produce a new version.   “There was space to do a new 488 for the customers of the 488 GTB,” says Raffaele de Simone, FerrariÂ’s chief test driver, “there were enough new parts and know how. We had an opportunity to open a gap in which we can work and use.” In fact, the F8 sits somewhere between the 488 GTB and the limited-run 488 Pista. Consider it a stiffened-up version of the former, or a softer version of the latter; Take your pick.  All told, the F8 is the most powerful production mid-engined Ferrari, and at the heart of the matter is the F8Â’s F154 twin-turbo V8, criticized for its weedy exhaust note and not much else. It's won three handfuls of awards since it was introduced in the 488 GTB. Peak power is 710 horsepower at 7,000 rpm and peak torque is 568 pound-feet of torque at 3,250 rpm. ItÂ’s almost a straight lift from the 488 Pista, and thus makes 49 hp more than the 488 GTB. However, Ferrari shaved a remarkable 40 lbs off of the engine for duty in the F8, thanks to bits like a lighter flywheel and titanium connecting rods. The engine drives the rear wheels via a Getrag seven-speed, twin-clutch transmission and Ferrari's own electronically controlled limited-slip differential. This is likewise nearly unchanged from the Pista, although its gearchanges have been made less abrupt than that carÂ’s. Ferrari engineers referred to them as “gunshot changes”. Top speed is 211 mph, with 0-62 mph in 2.9 seconds and 0-124 in 7.8 sec. A warning note, however, is that these performance specs are predicated on a reduction in curb weight of 88 lbs over the 488 GTB (to 3,163 lbs), and this number includes optional lightweight parts, of which 22 lbs are derived from a set of carbon-fiber wheels that are not currently available and donÂ’t have a price tag yet.

Ferrari CEO Amedeo Felisa reportedly stepping down [UPDATE]

Update: In a statement to Autoblog, Ferrari USA predictably responded: "We do not comment on rumors. There is no announcement at this time." Rumors are currently swirling in the European media that Ferrari CEO Amedeo Felisa (pictured above) is stepping down from his position at the Prancing Horse. An exact timeframe isn't clear at this time. Motori Online from Italy indicates Felisa might not leave the company until September, whereas Autocar reports that he has already resigned from the Italian automaker. Autoblog has reached out to Ferrari for clarification, but the Maranello-based firm has not yet officially confirmed any of this speculation. Felisa has been the company's CEO since 2008 when Jean Todt stepped down. He joined Ferrari in 1990 as the director of product development and became general manager there in 2006. Felisa was also among people thought possible to take the role as chairman when Luca di Montezemolo left the Prancing Horse last year. Sergio Marchionne retained that role. If these rumors prove true, Felisa's departure would be the biggest corporate shakeup at Maranello since di Montezemolo's departure. The move would also come at a time that's not particularly pleasant for Ferrari or its corporate parent. Marchionne recently indicated that the Prancing Horse was just days away from filing the prospectus for its imminent initial public offering. The Fiat Chrysler Automobiles executive had previously put Ferrari's value at around $11 billion. So far, all we have are rumors and reports, but as soon as we know more, so will you. Stay tuned.