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Stellantis wants to trim 3,500 hourly U.S. jobs, UAW says

WASHINGTON — Chrysler-parent Stellantis NV wants to cut approximately 3,500 hourly U.S. jobs and is offering voluntary exit packages, according to a United Auto Workers union letter made public Tuesday. The automaker is looking to reduce its hourly workforce offering incentive packages that include $50,000 payments for workers hired before 2007, UAW Local 1264 said in a letter dated Monday posted on its Facebook page. Stellantis spokeswoman Jodi Tinson declined to comment. A person briefed on the matter said the figure might be lower than the figure cited in the UAW letter. In late February, Stellantis indefinitely halted operations at an assembly plant in Illinois, citing rising costs of electric vehicle production. The action impacted about 1,350 workers at the Belvidere, Illinois, plant that built the Jeep Cherokee SUV and resulted in indefinite layoffs. The automaker has warned it may not resume operations as it considers other options. The UAW letter said openings created by workers leaving would be filled by workers on indefinite layoff. Stellantis said in February that about 40,000 U.S. hourly workers were eligible for profit sharing. Last week, UAW President Shawn Fain said Stellantis' decision to idle the Illinois plant was "a flat-out violation" of the union's contract with the UAW and is unacceptable. The UAW will enter talks with the Detroit Three before labor contracts expire in mid-September. Earlier this month, General Motors said about 5,000 salaried workers accepted buyouts to leave the automaker. GM CEO Mary Barra said February job cuts of a few hundred jobs and the 5,000 buyouts "provided approximately $1 billion towards" a $2 billion cost cutting target. Ford Motor Co recently announced significant job cuts in Spain, Germany and other parts of Europe and in August said it would cut a total of 3,000 salaried and contract jobs, mostly in North America and India. Hirings/Firings/Layoffs UAW/Unions Chrysler Dodge Fiat Jeep Maserati RAM Stellantis

Marchionne wants Maserati to be FCA's new Ferrari

Fiat Chrysler Automobiles is gearing up to spin Ferrari, its most profitable brand, off into another company, and float its stock on the open market. That means it's going to need another profit-driver to generate income for the rest of the group. And according to its chief executive Sergio Marchionne, that mantle will soon be picked up by Maserati. FCA is betting big on Maserati, which has long stood as a niche marque with a limited array of models and low sales numbers. In addition to the recently introduced Ghibli and Quattroporte sedans – now crucially offered with diesels and all-wheel drive – Maserati is preparing to roll out the Levante crossover that promises to do for the Modenese marque what the Cayenne did for Porsche. Due in part to the success of its first crossover, Porsche turned itself from a niche sports car manufacturer into an immensely profitable automaker that was (nearly) capable of buying out the entire Volkswagen Group. Maserati's resurgence is part of a two-pronged assault FCA is plotting against its German rivals. Maserati will be charged with taking on the higher end of the Mercedes, BMW, and Audi ranges (from the E-Class, 5 Series and A6 upwards). Meanwhile, Alfa Romeo will go after the lower end of the luxury spectrum with the new Giulia (aimed at the C-Class, 3 Series and A4) and other models to follow. FCA aims to turn Maserati and Alfa Romeo (along with Jeep) into global brands, broadening the narrow geographical appeal they have held until now. In order to generate enough profit to support the rest of the group as Ferrari has, Maserati will need to find a way to increase its profit margins. Bloomberg reports that Ferraris command a 13-percent profit margin, and while the ten percent that Maseratis list for is still triple that of the FCA average, slow sales are forcing some dealers to offer deep incentives that cut significantly into that margin. Related Video:

Maserati Pelletessuta models bring their Italian fashion to the U.S.

Maserati's partnered with Italian fashion house Emenegildo Zegna for seven years, going back to the Maserati Quattroporte Ermenegildo Zegna Limited Edition Concept worked up as part of Maserati's centennary celebrations in 2014. At last year's New York Auto Show, the pair debuted the results of another collaboration, the new Pelletessuta woven leather interior. Working with hide as it would with yarn, Zegna wove thin strips of lightweight Napa fabric for 100 special edition vehicles that the Italian automaker pledged for the U.S. market and said it would never build again. After previews during Monterey Car Week in August, the 100 limited edition models have finally reached U.S. dealerships. Until they're sold out, the two models will stand here as the carmaker's fullest expression of Italian prowess. Meanwhile, in Italy, Maserati made a gesture towards its compatriots and its country by lighting the towers at its Modena headquarters in the three hues of il Tricolore, the Italian flag. There are 50 examples of the 2020 Quattroporte S Q4 GranLusso, which already comes with a Luxury Zegna Package interior compared to the entry-level Quattroporte. Each special model wears a custom Blu Sofisticato metallic paint with blue brake calipers. Inside, dark brown Pelletessuta interior includes sport seats for the front passengers and a Zegna badge to highlight the work. It's joined by 50 examples of the 2020 Levante S GranSport dressed in Bronzo Tri-Coat and 21-inch polished Helios rims, those wheels an inch larger than the standard units. The Levante interior gets tailored in black Pelletessuta fabric, accented with custom Radica wood trim — radica being a kind of veneer or parquet with a history in Italian luxury. The news about U.S. arrival didn't come with prices, though, so the interested will need to make the call to a dealer for information. Since the Quattroporte S Q4 GranLusso starts at $114,485 after destination and the Levante S GranSport at $91,985, those are good baselines to add to the required premiums for exclusive upgrades and low volume. Related Video: