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Stellantis earnings rise along with EV sales

AMSTERDAM — Automaker Stellantis on Wednesday reported its earnings grew in 2022 from a year earlier and said its push into electric vehicles led to a jump in sales even as it faces growing competition from an industrywide shift to more climate-friendly offerings. Stellantis, formed in 2021 from the merger of Fiat Chrysler and FranceÂ’s PSA Peugeot, said net revenue of 179.6 billion euros ($191 billion) was up 18% from 2021, citing strong pricing and its mix of vehicles. It reported net profit of 16.8 billion euros, up 26% from 2021. Stellantis plans to convert all of its European sales and half of its U.S. sales to battery-electric vehicles by 2030. It said the strategy led to a 41% increase in battery EV sales in 2022, to 288,000 vehicles, compared with the year earlier. The company has “demonstrated the effectiveness of our electrification strategy in Europe,” CEO Carlos Tavares said in a statement. “We now have the technology, the products, the raw materials and the full battery ecosystem to lead that same transformative journey in North America, starting with our first fully electric Ram vehicles from 2023 and Jeep from 2024.” The automaker is competing in an increasingly crowded field for a share of the electric vehicle market. Companies are scrambling to roll out environmentally friendly models as they look to hit goals of cutting climate-changing emissions, driven by government pressure. The transformation has gotten a boost from a U.S. law that is rolling out big subsidies for clean technology like EVs but has European governments calling out the harm that they say the funding poses to homegrown industry across the Atlantic. Stellantis' Jeep brand will start selling two fully electric SUVs in North America and another one in Europe over the next two years. It says its Ram brand will roll out an electric pickup truck this year, joining a rush of EV competitors looking to claim a piece of the full-size truck market. The company plans to bring 25 battery-electric models to the U.S. by 2030. As part of that push, it has said it would build two EV battery factories in North America. A $2.5 billion joint venture with Samsung will bring one of those facilities to Indiana, which is expected to employ up to 1,400 workers. The other factory will be in Windsor, Ontario, a collaboration with South KoreaÂ’s LG Energy Solution that aims to create about 2,500 jobs. The EV push comes amid a slowdown in U.S.

Alfa Romeo 4C Spider is dead after 2020, but look at this 33 Stradale Tributo

The Alfa Romeo 4C Spider is finally making its exit. Alfa quit selling the coupe in America starting with the 2019 model year, and now the roofless version will wrap up with the 2020 model year. There will be no 2021 4C Spider in the U.S. Alfa is not killing the 4C without a bang, though. In conjunction with the announcement of the car’s U.S. departure, Alfa has announced a 4C Spider 33 Stradale Tributo special edition model. ItÂ’s meant to honor the 1967 Alfa Romeo 33 Stradale, which is the iconic roadgoing version of the Tipo 33 race car. ItÂ’s gorgeous and works as a fitting send off to the mid-engine sports car that kickstarted AlfaÂ’s return to North America. There are a number of things changed or added with the 33 Stradale Tributo, but the single biggest difference is the red transparent finish to the carbon monocoque chassis (pictured above). The normally black exposed carbon fiber is now a glowing and translucent red, and itÂ’s rather striking. Additionally, Alfa paints it in an exclusive shade of red: Rosso Villa dÂ’Este tri-coat. It gets gray-gold wheels, a two-tone black and “tobacco” (brown) interior and special badging on the dash, side sills and center console. Everybody who buys one will also get a special, numbered book that goes over the 4C in detail. All 33 Stradale Tributo models will be fully loaded with options, too. Most importantly, it gets the Akropovic exhaust and race-tuned suspension. Alfa says a standard 4C with every option would be “thousands more,” so hey, youÂ’re getting a deal. The 33 Stradale Tributo will start at $81,590, and only 33 will be built. Considering that Alfa has only sold 92 4C Spiders throughout all of FCAÂ’s 2020 reported sales so far, they might be easier to get than you think. If you want one, Alfa says you should email (yeah, weird) them at: sales@alfaromeo.com. Related Video:

Audi rumored to buy Alfa Romeo, officials deny it

For more than two years, Volkswagen has been making public statements about its willingness to buy Alfa Romeo and quadruple the Italian brand's sales, and for just as long, Fiat CEO Sergio Marchionne has replied with some version of "Mr. Piëch, drop it." According to a report in Ward's Auto, all that jousting might be over: it claims that sources close to both Marchionne and Audi CEO Rupert Stadler admit that the two are in talks for Audi to buy not just Alfa Romeo, but a production plant in Italy. In fact, a final deal could possibly include partsmaker Magnetti Marelli.
Against that backdrop, a report by German news weekly Stern quotes a Fiat spokesmen as saying it doesn't comment on rumors and an Audi rep has said flatly that "There is no substance in the news." If a sale is being arranged, the timing would seem to point to how eager Fiat is to raise cash to complete its major initiatives. Even though Alfa Romeo continues to delay its return to the US, it just showed off the production version of the 4C at the Geneva Motor Show (shown above) and said that preferred Fiat dealerships here would get them. Then there's Alfa's recently concluded deal with Mazda to develop a roadster based on the next generation MX-5 Miata - a deal that would seem to help both the Italian and Japanese brands.
The monetary issues are troublesome, though. Fiat is taking a beating in the European market and its weak-kneed balance sheet is delaying gotta-have-it products like the Jeep Cherokee. Fiat has been talking to banks about getting money to buy the rest of Chrysler and those financial institutions have also raised issues about debt and cash reserves, and the nasty game of chess Fiat is playing with the United Auto Workers (and now the court system about the portion of Chrysler it doesn't own) could end up blowing another hole in Marchionne's plans. It is possible that this could finally have convinced Fiat to at least see how serious Audi's parent company, Volkswagen, is about buying Alfa Romeo. Or it could be just another rumor.