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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.

2020 Alfa Romeo Giulia First Drive | All about the little things

ALBEROBELLO, Italy – Little things can make a big difference. And for the 2020 Alfa Romeo Giulia, it's the little things that have been addressed, those that have been causing reviewers to kvetch and customers to look elsewhere. The cupholders that cause bottles to bang into the HVAC controls. The shifter and knobs made of cheap plastic that wobble about in your hand. The backwoods entertainment system that makes an Audi's look like it's been beamed in from the far-flung future.  The big things? They've been left untouched, almost entirely for the best. The Giulia's exceptional driving credentials have been well-documented with multiple awards and much gushing about divine steering and an astute chassis. For 2020, they're unchanged apart from some imperceptible tweaks to the steering that iron out an occasional low-speed refinement issue. Even when driven on the regrettably non-winding roads of southern Italy's "heel," the Giulia continues to come across as something different and special. That steering is pleasingly quick and full of feeling, friendly to both those who yearn for man-machine connection and those who'd rather not get an upper body workout when parking at Kroger. The Giulia feels light and playful, with a stiff chassis and adeptly tuned suspension. When people talk about sport sedans losing their edge (cough BMW 3 Series), it can still be found in the Giulia. At the same time, the adaptive dampers available in the Ti trim's Performance package impressively sops up nasty bumps, of which there are a great many around Italy's heel (AKA Puglia). Cars with such a sporting "edge" are often given a pass when it comes to ride quality, as a sore back and kidneys bruised by the seat bolsters are considered par for the course. The Giulia needs no such handicap. If there's a meh moment, it's the engine. Much is rightly made about the Quadrifoglio's 2.9-liter turbo V6 derived from Ferrari and possibly divine intervention. By contrast, the standard 2.0-liter turbocharged inline-four doesn't offer much in the way of zest. Oh, its 280 horsepower and 306 pound-feet of torque are class-leading, and its 5.1-second estimated 0-60 time is exceptional. In sound, however, it's just another turbo-four, and most disappointingly, its 5,500-rpm redline is a real buzzkill. It's not exactly diesel-like, but it's close.

It's the Alfa Romeo Brennero after all

In an "X-Files" television episode called "Teliko," the show changed its usual tagline during the title sequence from "The truth is out there" to "Deceive, Inveigle, Obfuscate." Both taglines would apply to the mystery around the name of Alfa Romeo's coming subcompact SUV. For the longest while, based on information from unnamed sources, the urban runabout twinned with Europe's Jeep Avenger was expected to be named the Alfa Romeo Brennero, honoring Italy's Brennero Pass (Brenner Pass in English). Then automaker design head Alejandro Mesonero-Romanos said something to Autocar over the summer that led Autocar to write, "that name was ruled out by Mesonero-Romanos." Autocar didn't quote the designer's words used to dismiss the expected name, it only quoted what came next, Mesonero-Romanos saying, "The model name is now decided. it will be Italian and it will be beautiful. But more than that, I cannot say for now." Maybe we’ve known it all along.#AlfaRomeo pic.twitter.com/dE10xGYXwO — Alfa Romeo (@alfa_romeo) December 6, 2023 The decided, Italian, beautiful name is Brennero. That's what we get from an automaker post on X bearing the caption, "Maybe we've known it all along," and a 15-second animation flashing four GPS coordinates. One coordinate picks out Alfa RomeoÂ’s history museum, the Museo Storico, another the Balocco Proving Grounds, another the Stelvio Pass, and finally, the Brennero Pass. This post could be considered Alfa answering its own question from June of this year — a month before Mesonero-Romano's supposed denial — with the caption, "A game-changing #SportyUrbanVehicle is on the horizon. What will be the name of our new Alfa Romeo? Take a guess in the comments below." Speculation has gathered around a few hard points. The Brennero sits on the CMP/e-CMP platform utilized by the Avenger, the Fiat 600, the Peugeot 2008, and the DS 3 Crossback. In electric form, it fits the Avenger's 54-kWh battery and front axle e-motor making the same 154 horsepower and 192 pound-feet of torque, and will likely get around the same 248 miles on a charge on the WLTP cycle. As the new entry-level offering beneath the Tonale, if the Brennero adopts Avenger dimensions, the Brennero will be about 16 inches shorter than the Tonale, its roof about three inches lower. More speculative speculation supposes there could be a dual-motor all-wheel-drive Brennero evolved from the drivetrain in the Avenger 4x4 Concept.