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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

Maserati rapidly expanding dealer network

With the new Quattroporte and Ghibli sedans out on the market, and the new Levante crossover and Alfieri coupe on their way, Maserati is making serious headway towards revitalizing its lineup. Now all it needs in order to reach its ambitious sales targets is to expand the network of dealers where they're to be sold. And according to Maserati chief Harald Wester in speaking to Automotive News at the Paris Motor Show, that's exactly what it has in store.
At the end of last year, Maserati had 79 dealerships across the United States. It has already boosted that number to 100 so far this year, but before 2014 is over, it plans to open another 20 to bring the total up to (carry the two, divide by the square-root of Pi)... 120 showrooms.
Globally speaking, Maserati reportedly closed 2012 with around 220-230 dealers around the world, and currently has about 355, but aims to close 2015 with a worldwide network of 450 dealers, representing a doubling of its network in two years' time. Having more than a quarter of those in the US alone is testament to how seriously Maserati takes the American market.

All future Maseratis will borrow styling cues from the MC20

Maserati's recently-unveiled MC20 coupe points to the direction stylists will take the rest of the company's range in during the 2020s. Its proportions will remain unique – the company isn't about to make the family-friendly Levante mid-engined – but its front end and its pure, simplified approach to design will permeate other models. "The face of the MC20, with the low-mounted grille and the headlights positioned much higher on the fascia, is our new design language," affirmed Klaus Busse, the head of the company's design department. He added it's a look that draws inspiration from past models, including the limited-edition MC12 built between 2004 and 2005. Lighting technology has evolved considerably since the middle of the 2000s, so designers and engineers are now able to use LEDs to give Maserati's future models a more distinctive-looking face, especially at night. Autoblog understands the second-generation GranTurismo scheduled to make its debut in 2021 will be the first MC20-inspired model. Its styling cues will also influenced the Grecale, a smaller SUV positioned below the Levante and possibly related to the Alfa Romeo Stelvio. Maserati's aim isn't to end up with a range of nesting doll-like models that all look the same, so expect to see variations of the MC20 theme as the line-up develops. Busse also shared insight about how his team shaped the MC20 (pictured). Early on, he insisted the car shouldn't receive oversized air inlets or a park bench-sized wing on the back. His team consequently integrated all of the components that create downforce below the axle line, which runs through the middle of the wheels. It's a pure, simple approach to design that will characterize future models, meaning they'll be sporty in a subtle, elegant way. Related Video: