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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

The Maserati Bora turns 50. It was 'the thinking man's exotic'

The Maserati Bora made its debut at the Geneva Motor Show in March 1971, meaning the V8-powered supercar from Modena has just turned 50 years old. It arrived at a time when the Italian sports car manufacturers were undergoing a paradigm shift to the mid-engined layout that defines the modern supercar. The Bora (not to be confused with the VW sedan we knew as the fourth-generation Jetta) was named after a winter wind that blows from the Alps to the Adriatic Sea. Though it holds the distinction of being the first Maserati to employ the mid-engine configuration, it was a bit of a latecomer, following on the heels of Lamborghini's 1966 Miura, De Tomaso's 1964 Vallelunga and Ferrari's 1967 Dino 206 GT. However, it was a dramatic departure from the curvaceous designs of the 1960s. Skinned in an avant-garde wedge penned by legendary designer Giorgetto Giugiaro of Italdesign, the Bora was like a concept car come to life. Its most distinguishing characteristic, the unpainted A-pillars and roof, were polished stainless steel, a preview of Giugiaro's DeLorean that would not arrive for another decade. Any resemblance to De Tomaso's Mangusta was probably a coincidence (or the fact that it too was a Giugiaro design). The Bora's massive rear glass area showed off its aluminum twin-cam V8, nestled in a racecar-like steel-tube subframe. Motors came as either a high-revving 4.7-liter unit good for 310 horsepower and 325 pound-feet, or a torquier 4.9-liter producing 320 hp and 355 lb-ft. Delivered through a smooth-shifting ZF five-speed, it carried the car from 0-60 in a reported 6.6 seconds, and onward to a top speed of 174 mph. The Bora modernized Maserati, offering a four-wheel independent suspension for the first time behind the Trident badge. The Bora was considered more liveable than a Countach, thanks to features like double-paned glass between the cabin and engine compartment, a carpeted engine cover, and adjustable pedal box. Though overshadowed by its contemporaries from Maranello and Sant'Agata Bolognese, the Bora was considered the thinking man's exotic. As evidence of its decidedly un-basic following it was even cited in 1984's The Adventures of Buckaroo Banzai Across the 8th Dimension, describing the evil Dr. Emilio Lizardo's escape from imprisonment: "Last night he kills a guard, breaks out of Trenton Home for the Criminally Insane. Ten minutes later, he cops a Maserati Bora.

Maserati betting big on Levante SUV

In 2014, Maserati was booming thanks to a sales spike, and executives contemplated capping production. The company's fortunes, however, have changed quickly this year. Its sales dropped 13 percent globally to 8,281 cars in the second quarter, and earnings were down 30 percent, according to Automotive News. This performance has led the company to pin its future hopes on the launch of the Levante crossover. The Levante arrives in the first half of 2016. An official debut is scheduled for sometime this year, according to the company's five-year plan, though the unveiling might be pushed back until the 2016 Detroit auto show in January, Automotive News reports. The Levante shares a platform with the Ghibli and reportedly will use its V6 engines. The crossover also is expected to have all-wheel drive. Patent drawings suggest a look reminiscent of the earlier Kubang concept (pictured above). FCA explains some of Maserati's current weakness is due to problems in China. Deliveries were down 37 percent there in the second quarter, according to Automotive News, and the country's weak economy isn't expected to let up soon. Related Video: