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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

2023 Maserati MC20 Road Test: Distinctly Maserati, and better for it

It’s not the quickest to 60 or the flashiest of the bunch, but the Maserati MC20 is a brilliant mid-engine supercar. It also seemingly appeared overnight. One day, Maserati was making subpar luxury sedans, and the next itÂ’s producing a carbon-tubbed supercar with a bespoke engine and looks thatÂ’ll have you going, what the hell is that? But in a good way. Seriously, if an award existed for “most improved” in the automotive industry, Maserati deserves to take home the prize this year. From the MC20 to the hot-selling Grecale, this isnÂ’t the Maserati weÂ’ve known and chided for the better part of this century. ItÂ’s all the more impressive that Maserati is finally catching its stride at the same time Ferrari engines are falling away from its lineup, particularly because the presence of those Maranello-designed engines was the biggest draw to driving home a car with the trident in its grille. Forget about Ferrari, though, because the Maserati MC20 is a great supercar because itÂ’s a Maserati. Let your butt fall into the reasonably-bolstered (but not too crazy) all-Alcantara seat, swivel your legs in over top of the exposed carbon sill, and breathe a deep breath of relaxation. Sure, it takes a tiny bit of contorting to get in, but the cabin is downright plush for being an honest-to-goodness supercar. Give the butterfly door a firm yank downward into place, but make sure to admire the perforated and patterned Alcantara as you do, because itÂ’s just one of many hints at the MC20Â’s quiet luxury. ItÂ’s refreshing to take in the interiorÂ’s surroundings, because while storage may be at a premium, most of the controls and trimmings are easily describable as normal or even ergonomic. The steering wheel buttons look lifted straight off an Alfa and are instantly natural to operate. Your phone will find a perfect resting place in the very secure and well-integrated wireless phone charger in the carÂ’s central tunnel. The wheel-mounted drive mode selector is a chip off AlfaÂ’s “DNA” mode selector, but itÂ’s in the perfect spot to effortlessly change the carÂ’s character in an instant. Even the armrests on both the center console and doors are well-judged to keep you relaxed and well-supported no matter how long the drive. Add to all this the Uconnect 5 infotainment system that is dirt-easy to operate, including with wireless Apple CarPlay/Android Auto, and youÂ’re left with a supercar that doesnÂ’t make being in it or driving it a chore.

Driving the 2021 Chevy Tahoe and big news from Hyundai | Autoblog Podcast #640

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by News Editor Joel Stocksdale. They discuss some of the big trucks Joel drove: the 2021 Chevy Tahoe and a Mil-Spec-modified Ford F-150. After that is a look at the latest car news including Trofeo versions of Maserati's sedans, Hyundai's new electric brand called Ioniq, and the BMW M3 Touring station wagon and Hyundai Elantra N-Line. They wrap things up with some musings on anniversary of the 19th Amendment to the Constitution and how cars played a role in it. Autoblog Podcast #640 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Reviews2021 Chevy Tahoe Mil-Spec Ford F-150 Maserati Ghibli and Quattroporte Trofeo models revealed Ioniq becomes EV brand for Hyundai 2021 Hyundai Elantra N Line revealed BMW finally announces an M3 station wagon The 19th Amendment and how cars fit in Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Government/Legal Green Podcasts BMW Chevrolet Ford Hyundai Maserati