1974 Alfa Romeo Spider Convertible White Restored Fun! on 2040-cars

Auto blog

Share price falls on skepticism of Chrysler-Fiat five-year plan

Following this week's Fiat Chrysler extravaganza, where the Italian-American manufacturer announced its plans for the next five years, the Autoblog staff was cautiously optimistic of the company's future. Investors? Not so much.
Fiat saw its shares tumble 12 percent in Wednesday's trading, falling from 8.67 euros ($12.06 at today's rates) to 7.44 euros ($10.35) as of this writing, with blame partly going to the Italian half of the FCA marriage, which recorded a pretty significant drop in profits during the first quarter of this year.
The plan, which will cost around $77 billion over the next several years, is facing criticism from investors thanks in part to a 1.4-percent drop in Fiat's first-quarter profits, to 622 million euros ($862 million). That figure is also short of Bloomberg analysts' projections, which predicted $1.18 billion in profits before taxes, interest and one-time items.

Stellantis lays off salaried workers, cites uncertainty in EV transition

DETROIT — Jeep maker Stellantis is laying off about 400 white-collar workers in the U.S. as it deals with the transition from combustion engines to electric vehicles. The company formed in the 2021 merger between PSA Peugeot and Fiat Chrysler said the workers are mainly in engineering, technology and software at the headquarters and technical center in Auburn Hills, Michigan, north of Detroit. Affected workers were notified starting Friday morning. “As the auto industry continues to face unprecedented uncertainties and heightened competitive pressures around the world, Stellantis continues to make the appropriate structural decisions across the enterprise to improve efficiency and optimize our cost structure,” the company said in a prepared statement Friday. The cuts, effective March 31, amount to about 2% of Stellantis' U.S. workforce in engineering, technology and software, the statement said. Workers will get a separation package and transition help, the company said. “While we understand this is difficult news, these actions will better align resources while preserving the critical skills needed to protect our competitive advantage as we remain laser focused on implementing our EV product offensive,” the statement said. CEO Carlos Tavares repeatedly has said that electric vehicles cost 40% more to make than those that run on gasoline, and that the company will have to cut costs to make EVs affordable for the middle class. He has said the company is continually looking for ways to be more efficient. U.S. electric vehicle sales grew 47% last year to a record 1.19 million as EV market share rose from 5.8% in 2022 to 7.6%. But sales growth slowed toward the end of the year. In December, they rose 34%. Stellantis plans to launch 18 new electric vehicles this year, eight of those in North America, increasing its global EV offerings by 60%. But Tavares told reporters during earnings calls last month that “the job is not done” until prices on electric vehicles come down to the level of combustion engines — something that Chinese manufacturers are already able to achieve through lower labor costs. “The Chinese offensive is possibly the biggest risk that companies like Tesla and ourselves are facing right now,Â’Â’ Tavares told reporters. “We have to work very, very hard to make sure that we bring out consumers better offerings than the Chinese.

Alfa Romeo SZ, the brutalist 'Il Mostro,' restored by FCA Heritage

Nicknamed Il Mostro — "the Monster" in Italian — because of its unusual, almost brutalist design, the 1989 Alfa Romeo SZ was meant to showcase all the technological prowess of the Milanese firm at the time. It was also meant to plant a stake in the ground and return the revered marque to its rear-wheel-drive roots. Though it was an evolutionary dead end, the SZ is still considered among the most distinctive cars in a brand filled with distinctive models. It should, then, be no surprise that FCA Heritage, the classic car and history preservation arm of Stellantis (which, apparently, was not part of the name change) has just restored one. The SZ began life at the 1989 Geneva Motor Show as the ES-30 concept, which stood for Experimental Sports 3.0-liter. The production car was named SZ for Sprint Zagato, but the design is credited to Robert Opron of the Fiat Style Center, while Antonio Castellana did the finishing details and interior. Zagato used its coachbuilding expertise to build the cars, whose bodywork was formed from a composite thermoplastic material called Modar, made by Italy's Carplast and France's Stratime. Alfa Romeo also claims it was the first car to be produced using computer-aided design (CAD/CAM). Beneath the sci-fi exterior lay a 12-valve, 3.0-liter V6 plucked from the Alfa Romeo 75 3.0i Quadrifoglio Verde. With 204 horsepower and 181 pound-feet of torque, it was the most powerful Alfa of the time. Output was fed through a 5-speed transaxle and the suspension, Koni-designed shocks, and brakes reportedly tuned by Fiat and Lancia rally driver Giorgio Pianta and transplanted from the Alfa 75 1.8 Turbo Evolution Group A racer.  The original run was intended to span just 1,000 cars, but some sources say 1,036 were produced. That run ended in 1991, after which a roadster version called the RZ was built from 1992-93.  The example restored has been in Alfa Romeo's possession since the beginning. It served as a test car on the Balocco proving grounds and was used in promotional photos. There are several details on it that differ from production models, so much so that Alfa Romeo says it could be "considered a prototype." Unfortunately, as history shows, the SZ failed to usher in a real-wheel-drive renaissance at Alfa Romeo. After its end, there wasn't another rear-drive model until the 8C Competizione in 2007.