1978 Alfa Romeo Spider on 2040-cars

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Stellantis won't race to split electric vehicles from fossil fuel cars

MILAN - Stellantis is not considering splitting its electric vehicle (EV) business from its legacy combustion engine operation, its finance chief said on Thursday, as the carmaker presented above-expectation revenue data for the first quarter. Chief Financial Officer Richard Palmer told analysts he did not see huge benefits in the kind of separations pursued by rivals such as France's Renault and U.S. Ford. "We need to manage the company and the assets we have through this transition," he said. "There are benefits to having the cash flow being generated by the internal combustion business for the investments we need to make." Palmer said the group, formed by a merger last year of Fiat Chrysler and Peugeot maker PSA, was not averse to considering adjusting its structure "but we aren't anticipating any big changes." Palmer's comments came after the world's fourth largest carmaker said its net revenue rose 12% to 41.5 billion euros ($44.1 billion) in the January-March period, as strong pricing and the type of vehicles sold helped offset the impact of the semiconductor shortage on volumes. That topped analyst expectations of 36.9 billion euros, according to a Reuters poll. Milan-listed shares were up 0.5% by 1415 GMT, in line with Italy's blue-chip index. The impact of the chip crunch was evident in the decline in shipment figures which fell 12% in the quarter to 1.374 million vehicles. It was a similar story for Germany's BMW which posted higher revenues on Thursday and a decline in car sales. Riding the Recovery Stellantis, whose brands also include Citroen, Jeep and Maserati, confirmed its 2022 forecasts for a double-digit adjusted operating income margin, after 11.8% last year, and a positive cash-flow despite supply and inflationary headwinds. Morgan Stanley analysts said after the results that Stellantis had better management than many peers and benefited from its significant exposure to a stronger U.S. economy and a European recovery from the COVID-19 pandemic. They also said it was less affected by a slowing Chinese economy. Palmer said it was important for the group to maintain double-digit margins and keep delivering positive cash flows. "A 12% increase in revenue with a 12% decrease in volumes indicates a very strong performance on price and mix, which augurs well for our margin performance," he said. He said semiconductor supply problems were expected to ease this year with continued improvements in 2023.

Alfa Romeo 4C Spider reportedly dead in Europe, only dealer stock remains

It's been hard to get a reliable prognosis concerning Alfa Romeo in general, and especially hard to figure out what's in store for the brand in the United States. Last year the automaker canceled the 4C coupe, last week the brand's future product roadmap appeared to deep-six the anticipated GTV and 8C sports cars in order to focus on more efficient spending in more important segments. In February of this year, Alfa Romeo launched the 4C Spider Italia in a run of just 15 units, the two biggest surprises about that car being the $73,495 price and the fact that it extended the model's run into 2020. We're not yet into 2020, but it looks like the party's over. The French outpost of Motor1 is said to have confirmed with Alfa Romeo that the 4C Spider has ceased production. According to the report, the only 4Cs left across the Atlantic are the ones currently in dealer inventory.  Autoblog asked Alfa Romeo to confirm the news, a spokesman responded by e-mail, "I can't speak for other markets but the US 4C Spider is not cancelled and is still available for order." Introduced in 2015, the 4C Spider still gets on with a turbocharged four-cylinder putting out 237 horsepower and 258 pound-feet of torque. The 4C Spider needs an irrational generosity to love and drive every day, but the last OEM sports car on sale without power steering knows how to thrill when pushed. Our guess is that, overseas, exotic construction and communicative, go-kart handling couldn't make up for a high price relative to the established competition and lack of interior amenities and ultimate refinement. If the European news is true, sales figures lead us to believe it is but a matter of time before the same ax finds its way to the U.S. Alfa Romeo sold 421 4Cs in Europe last year, compared to 238 in the U.S. This year European dealers sold 196 units through the end of September, U.S. dealers moved 127. If we did lose the open-top sports car before 2021, the move would leave the Giulia sedan and Stelvio SUV as Alfa Romeo's entire U.S. lineup until more crossover-type vehicles show in 2021. No matter what happens, perhaps by 2021 Alfa Romeo will know precisely where it needs to go and have a clear plan for getting there, and perhaps it will be able to do so with the platform and financial resources within a merged Fiat-Chrysler-PSA Group entity. Even for fun, full-throated products, it's hard to get on in today's market without full-throated focus, support, and marketing.

Argentinians find stash of never-registered, brand-new 30-year-old Italian cars

While much of the world is sheltering in place, several new, never-registered Italian and French cars exited a 27-year confinement in Argentina. They were left for dead in an abandoned dealership that sold Alfa Romeo, Fiat, and Peugeot models in a city named Avellaneda near Buenos Aires, the country's capital. Details surrounding the dealership are murky. Argentina's Autoblog (no relation to us) reported it closed at some point during the 1990s after the owner and his son died in violent circumstances. Automotive archaeology tells your author it likely shut its doors in 1993, because that's the only year in which the first-generation Fiat Ducato launched in 1981 and the post-facelift Fiat Tipo, axed in 1995, overlapped. Both are clearly visible in the photos. What's certain is that someone finally inherited the property in 2020 and wanted the cars gone as quickly as possible in order to sell it. The anonymous owner asked Kaskote Calcos, a local body shop that also runs a used-car lot, to haul them away via Instagram. We're guessing the firm didn't need to be asked twice.           View this post on Instagram                       A post shared by Axel By Kaskote (@kaskotecalcos) on Mar 24, 2020 at 1:57pm PDT Many of the cars hidden in the dealership were made by Fiat; the photos show several examples of the Tipo, an Uno, a Tempra, and the aforementioned Ducato. An Alfa Romeo 33 wagon and a Peugeot 405 were also stashed in the trove. Most were stored indoors so they weren't damaged by sunlight or humidity, and images of the cars taken after they were pressure-washed confirm they're in like-new condition inside and out. We're told some even started, though for the love of valves and pistons we hope they got a new timing belt before being fired up.  Kaskote Calcos hasn't revealed what it will do with the cars. None are particularly sought-after, they're economy cars that were mass-produced and mass-destroyed, and their current values reflect that. You can get a post-facelift Uno for the price of a few Peroni pints in Italy. The fact that they're new, never-registered examples will undoubtedly increase their appeal, even if registering them could require slashing through jungles of red tape. As a side note, finding a 405 beached in a Fiat dealership isn't as random as it might sound.