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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

Alfa Romeo 4C production to continue until at least late 2020

Maserati will end production of the GranTurismo and the GranCabrio in November 2019, and it will retool the historic Modena, Italy, factory that makes both models in preparation for a new sports car due out in 2020. But Autoblog learned production of the Alfa Romeo 4C made in the same facility will continue even after the retooling, debunking rumors of the model's immediate demise. "Production of the 4C will continue in the same production plant/line until late 2020 for the NAFTA and APAC regions," an Alfa Romeo spokesperson told us via email. The factory will close during the retooling, so "there will just be some weeks of technical interruption" during the process, according to the same spokesperson. Production will resume as soon as the overhaul is completed, and Alfa's carbon fiber-intensive two-seater will be built alongside Maserati's next sports car. North American enthusiasts still have time to put a new 4C in their garage. Available only as a convertible, the 4C recently entered the 2020 model year with a limited-edition model named Italia that gains an array of visual add-ons, like piano black trim on the front end. Just 15 Italias will be built, but the standard 4C remains available as a regular-production model. It's powered by a mid-mounted, 1.75-liter four-cylinder engine turbocharged to 237 horsepower and 258 pound-feet of torque. The engine's displacement wasn't chosen at random; Alfisti will know right off the bat that it echoes the 1750 engine Alfa offered in the late 1960s and the early 1970s. European enthusiasts aren't as lucky. Autoblog also confirmed an earlier report claiming 4C production for the European, Middle Eastern, and African markets ended in August 2018. While the GranTurismo will be replaced by a new model in 2021, what the future holds for the 4C is up in the air. Alfa Romeo's product plan doesn't currently include a second-generation 4C, which is too bad. It's one of the purest, most undiluted sports car on the market; may it live long. Featured Gallery 2020 Alfa Romeo 4C Spider Italia Auto News Alfa Romeo Convertible

Maserati honors Juan Manuel Fangio with F Tributo special editions

Argentina's Juan Manuel Fangio was one of the greatest Formula 1 drivers of all time. Logging a record five F1 championships between 1951-57, four of them back-to-back, Fangio was the winningest driver in F1 history until Michael Schumacher won his sixth championship in 2003, almost half a century later. Maserati is now paying homage to Fangio with two special edition vehicles.  The Ghibli and Levante F Tributo commemorate Fangio's F1 victories behind the wheel of a Maserati 250F in the 1957 season. Fangio had previously won the world championship for Alfa Romeo, Ferrari, and Mercedes-Benz, though in 1954 he won the driver's championship while driving for both Maserati and Mercedes. The "F" stands for Fangio, and "Tributo" means "tribute" in Italian. Though Maserati does not appear to have increased performance figures for the F Tributo duo, they do come in two exclusive paint jobs. Rosso Tributo is a vibrant red inspired by the crimson hue that represented Italy in the era when race car liveries were determined by country of origin. The second color, Azzurro Tributo, is a blue that represents, along with yellow, the flag of Modena, Maserati's home. Both cars also feature yellow brake calipers and a yellow outline on their 21-inch wheels, a callback to the yellow stripe on the nose of Fangio's 250F. The yellow cues continue on the inside, where giallo contrast stitching brightens up the black leather interiors. The Ghibli and Levante are also denoted by black "F Tributo" badges on the front fenders, as well as body-colored Maserati trident logos on the C-pillars. We're not totally convinced that a luxury sedan and crossover would be the type of car Fangio would love to drive, but if this is your bag you should act quickly. Maserati hasn't said how many F Tributo cars they plan to sell, only stating that numbers will be "very limited".