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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

Next-generation Maserati Gran Turismo, Gran Cabrio confirmed

The Maserati Gran Turismo will return for a second generation after all. The Italian automaker confirmed the on-again, off-again grand tourer as it presented its financial results to investors.  The Gran Turismo coupe and its convertible offshoot, the Gran Cabrio, were both included in the five-year plan parent company Fiat-Chrysler Automobiles (FCA) presented in 2014. Their future began looking grim when they disappeared from the company's road map, according to Motor Authority. We know Maserati is busily working on another, more hardcore sports car inspired by the Alfieri concept, and odds are insiders worried releasing two similar models in the same price bracket would confuse buyers and torpedo both nameplates. The latest from Maserati's Modena, Italy, headquarters is that development of the next Gran Turismo is back on track. Additional details about the car remain under wraps, but Maserati's presentation noted every car it releases beginning in 2020 will be offered with a battery-electric powertrain. The current, 12-year old Gran Turismo (pictured) has been V8-only for its entire career, and we wouldn't be surprised to see the eight-cylinder return as an alternative powertrain for buyers who don't want an EV. Maserati has previously made it clear that it won't commit to an all-electric future. Maserati's product master plan pegs the next Gran Turismo's debut date at some point in 2021. Keep in mind the company isn't exactly known for timeliness. Even if we see the model during 2021, it's unlikely to appear in American showrooms until 2022 at the earliest. The Gran Cabrio will arrive the following year, so it will likely launch as a 2023 model. That means the current Gran Turismo and Gran Cabrio will likely remain in the firm's lineup for two or three additional years. The presentation reaffirms Maserati's commitment to finally becoming a full-line automaker. In 2020, it will give the Levante, the Ghibli, and the Quattroporte a mid-cycle refresh, and it will release the aforementioned production version of the Alfieri concept introduced way back in 2014. Then 2021 will bring a smaller SUV, and a convertible variant of the yet-unnamed Alfieri-inspired model. Finally, the Quattroporte and the Levante will be replaced in 2022 and 2023, respectively. Maserati will need to keep the Gran Turismo and the Alfieri in two distinctly separate segments.

2023 Maserati Grecale Trofeo First Drive Review | Entry-level done right

RENO, Italy — Maserati is blowing with the SUV gales. Sedans remain an important part of its heritage, but they're no longer an important part of the new car market — especially not in the United States. Investing time and resources into filling sedan-sized gaps in the lineup would be like moving the deck chairs on a sinking cruise ship, so the Italian company is taking a different path to growth by expanding its SUV range. Named after a Mediterranean wind, the Grecale is positioned below the Levante and aimed directly at the Porsche Macan. It's not a supercar, but the Grecale is arguably the most important car that Maserati has ever released, one that could ultimately represent nearly half of its sales. I traveled to a town called Reno (not the place that Johnny Cash shot a man in) to get a feel for the smallest trident. First, let's dispel a myth: The Grecale is not merely a re-bodied Alfa Romeo Stelvio. Sure, both Italian people-movers are built on the Giorgio platform (which also underpins the Giulia and the latest Jeep Grand Cherokee), but several key changes were made in-house by Maserati. "We started with the Giorgio architecture, and we added the features that are typically found in upper segments: an air suspension system, for example," Federico De Medio, the company's head of vehicle validation, told me. "We were given the possibility to further improve this platform, and we were able to increase the wheelbase by (about 3 inches),"  He added that electronic tweaks were made as well. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The base Grecale GT consequently stretches 190.8 inches long, 76.7 inches wide, and 65.6 inches tall; the Modena and the Trofeo trim levels are 77.9 inches wide, while the latter measures 191.3 inches from bumper to bumper due to its specific body kit. Either way, the Grecale is relatively big for its segment: Porsche's Macan, its intended closest competitor, checks in at 184.3 inches long and is one of the smaller in the segment. The Grecale's weight ranges from 4,431 to 4,629 pounds. One look at the Grecale's front end shows what Maserati meant when it announced the MC20's exterior design would influence the rest of the range: the swept-back headlights are positioned above a wide grille with the trident emblem proudly positioned front and center. It's not a clone of the MC20, but the family resemblance is perceptible.