1985 Alfa Romeo Spider Veloce, Fun Car 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.

Fiat gets into the classics game with 'Reloaded by Creators' program

Classic vehicles help modern buyers make new connections to a carmaker's modern offerings. That's why in little more than a month we've seen Jaguar announce a continuation run of the D-Type, Porsche get a show at the Petersen Museum in Los Angeles, Land Rover plan to restore a Series I, and Jay Leno celebrate the 1942 Dodge Carryall. Fiat Chrysler already has a heritage division, but the vintage department takes a new step into its history with the "Reloaded by Creators" service. Said to be inspired by retail programs at museums, Reloaded by Creators will see FCA Heritage source and buy noteworthy classics from the Abarth, Alfa Romeo, Fiat, and Lancia brands, restore them to original spec, then sell them to collectors. When Roberto Giolito, head of FCA Heritage, broke the news at Retromobile in Paris, he also revealed the first five offerings: three "ultimate classics" in the Alfa Spider IV serie (1991), Lancia Fulvia Coupe Montecarlo (1973), Spidereuropa Pininfarina (1981), and two custom cars in the Alfa Romeo SZ (1989) and Lancia Appia Coupe (1959). The ultimate classics represent the last of their kind to be built, not necessarily according to model year, but with respect to design and engineering - no major model changes followed. The Lancia Fulvia Coupe ceased production in 1976; the limited edition 1973 Montecarlo model celebrated the car's victory in the 1972 Montecarlo Rally and still wears the original license plates. The 1981 Spidereuropa Pininfarina comes from the beginning of the end of production; after building the Fiat 124 Sport Spider for US-only sale from 1975 to 1983, Pininfarina resumed manufacture in Europe in 1982 and bestowed the new name. The Alfa Spider went out of production in 1993, the 1991 Series IV example for sale here has been in FCA's collection since it was built, used for technical testing. As for the custom cars, Lancia built a variant of its third-generation Appia as a coachbuilt chassis. Pininfarina bodied the 1959 model for sale here, and Fiat showed it first in Paris. Fiat used the funky, Zagato-designed, thermoplastic-composite-bodied, 1989 Alfa Romeo SZ for testing at the carmaker's Balocco circuit. Only around 1,000 SZ models emerged from the factory during a two-year production run. Each vehicle will come with a certificate of authenticity and be guaranteed by FCA, plus be featured on the FCA Heritage site.

2019 Alfa Romeo Stelvio Quadrifoglio Review | Heck of a third impression

The 2019 Alfa Romeo Stelvio Quadrifoglio does not make a good second impression. The first impression? A-OK, as you approach its distinctive Alfa face, admire its tight proportions and wonder why someone would paint it something other than Alfa Rosso. It's so definitely not German, which counts for a lot should you live in a neighborhood where everyone drives a black BMW or silver Audi. That this Stelvio costs $94,340 seems steep, but at least it has the looks to back it up. Then you pull the door handle and the action is eerily reminiscent of a Dodge Dart. The door opens and the sound and feel are just a bit hollow. You sit down inside and press a button, any button, or turn a knob. The plastic feels cheap and the action is flimsy. It's basically the exact opposite of what you get in an Audi or Porsche. Even their touch-sensitive controls emit a hearty click. Car journalists may go on about "soft-touch materials" in cars, but it’s the switchgear that one ultimately interacts most with. If the volume knob feels Fisher-Price, who cares that the dash and just about every other interior surface is covered in leather? To be fair, the Alfa's cabin is indeed covered as such, and since this is the Quadrifoglio, it gets green and white stitching with carbon fiber trim. It certainly doesn't look cheap, even if it definitely feels it and sounds like it given the duo of distinctive rattles that had already developed in a press car with a mere 3,400 miles on it. There's also the infotainment system, which is highlighted by an 8.8-inch screen that doesn't take good advantage of its sizeable real estate. There's a control knob with accompanying Menu and Option buttons. It's better than Lexus Remote Touch, but that's a bar previously used at a corgi agility competition. Rival systems are easier to use (not to mention FCA's own Uconnect touchscreen) and appear more state-of-the-art (because they are). It's very possible that a prospective luxury SUV shopper would stop right there, never even bothering to go on a test drive. If they'd just come from a Porsche, Audi or BMW store, it's particularly easy to see that happening. Of course, it's the test drive where the Alfa Romeo Stelvio Quadrifoglio makes its third and best impression. It's as sizzling and wild as you might have heard. The delicacy and immediacy of the controls are immediately noticed.