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Automakers are getting nervous about Europe's economy

Carmakers BMW and Stellantis on Thursday expressed concerns about Europe's economic outlook, joining a chorus of retailers and others in warning of waning consumer confidence on the continent and hitting their shares. "Obviously the macro(-economic situation) in Europe is more challenging, which gives me pause, personally," Stellantis chief financial officer Richard Palmer said on a conference call with analysts. "If there was anywhere where I was more concerned, it would be Europe than anywhere else really based on the macro." This follows a dire assessment of consumer sentiment in Europe from the likes of consumer goods company Unilever and news of lower spending by Europeans from Amazon. Like other major auto companies, Stellantis and BMW have been hit by supply chain disruptions stemming from the global coronavirus pandemic that have curtailed car production. They have also benefited from strong consumer demand amid low vehicle supply, allowing them to raise prices and keep them high even as the semiconductor shortage shows signs of easing. BMW posted a 35.3% jump in third-quarter revenue despite a small drop in vehicle sales. Stellantis said its revenue rose 29% on the back of a 13% increase in vehicle sales as more semiconductors became available. The concern among analysts has been that demand may falter, just as carmakers get their hands on the supplies they need, undermining pricing and hurting profits. But this week Ferrari said it was confident about its prospects for this year and 2023 as demand for its luxury cars, as well its pricing power, remained strong. Both BMW and Stellantis said on Thursday they had vehicle order books that stretched into the second quarter of 2023. But BMW's chief financial officer Nicolas Peter said high inflation and rising interest rates could hit buyers' wallets. "This is causing conditions for consumers to deteriorate, which will affect their behaviour in the coming months," he said. "We therefore continue to expect our higher-than-average order books to normalise, especially in Europe." He added customers had been unhappy about the wait for new cars, so "a slight reduction (in orders) would not be negative." Palmer said Stellantis was "ready for any softness in demand" but in the short term had been affected by a shortage of drivers to deliver its cars to dealers. "At the moment, we can't build enough cars," he said.

Some younger drivers relish the idea of stick shifting

Part way into the 21st Century, obsolescence isn’t what it used to be, especially in the minds of younger consumers; consider the renaissance of vinyl records and film cameras. To that list, add the automobileÂ’s stick shift. Manual transmissions are no longer just about lower car purchase prices, better fuel economy or more control on the road. TheyÂ’re about being hip. At least, thatÂ’s part of the thesis offered in a recent article in The Wall Street Journal. “The 20-Somethings Fueling a Stick-Shift Renaissance”  examines a modest but real resurgence in the sales upticks of manual-equipped cars, and focuses on the enthusiasm of younger people to acquire them, and the challenges—no longer so challenging—of learning bow to drive them. But, as readers of Autoblog have learned in recent years,, the future of manuals, as author Rachel Wolfe succinctly points out in the Journal piece, is essentially doomed in the longer term. Blame the electric vehicle. She writes that car makers sold 43 different manual models in 2022, according to J.D. Power, compared with 69 in 2019. “While a few EVs do have more than one gear,” she says, “auto makers are still figuring out how to translate the experience of maneuvering a manual to their electric car lineups. ‘’ Did we mention “doomed”? But Ms. Wolfe does offer some positivity. “MINI just opened a manual driving school of its own at the BMW Performance Center in Thermal, Calif.,” she writes. “A January company survey of just over 1,000 drivers found that two-thirds of 18-to-34-year-olds are eager to learn how to drive a manual, versus 40% of older respondents who donÂ’t already drive stick.” The author quotes a couple of drivers who became enamored of manuals, including a teenager from Ohio who took his driving test with a manual. “I thought it was cool to learn how to drive on a stick, just because I could tell my friends that I was a better driver than them,” he says. She also visits the other side of the issue, talking to a 24-year-old, who said that she found the stick “cool,” but only until “her leg grew sore from the clutch as she navigated traffic commuting back and forth from law school every day in Tampa, Fla.  ‘I think they are very fun to drive for about two hours, and then youÂ’re like, OK, I would like to put it away and just drive like a normal person again.’’” The full article is available online here.

The troubled Alfa Romeo Giulia needs serious help [UPDATE]

UPDATE: An Alfa Romeo US spokesman responded to this article with the following statement: The safety concerns expressed in the story are false. The all-new 2017 Alfa Romeo Giulia is designed and engineered to meet or exceed all federal safety regulations. The Alfa Romeo Giulia will begin production for the North American market in the late second-quarter of this year. Alfa Romeo will have a full product portfolio of premium vehicles that includes plans for (8) all-new Alfa Romeo vehicles by 2020. The product launches are prioritized by segment volumes starting this year with the Alfa Romeo Giulia production for North America starting in late Q2, followed by the Midsize-UV – the 2nd largest premium segment in North America. Even on the day you dragged them kicking and screaming and gesticulating wildly to a table full of concrete evidence, Alfa Romeo executives will never admit the Giulia program is going through a tough patch. But it is. Reports say the Giulia, on the eve of production, didn't just fail one internal crash test, but failed the front, side and rear impact tests. Alfa denies it. Automotive News published a report last week saying two suppliers had insisted the Giulia, on the eve of production, didn't just fail one internal crash test, but failed the front-, side-, and rear-impact tests. A third supplier source told us the same thing. Alfa is denying it. It was due on sale in Europe late last year and was supposed to be here in the next month or two. But it wasn't, and it won't. It was to be headlined by a twin-turbo V6 that reportedly howled its way around the Nurburgring 14 seconds faster than the BMW M3 could manage. That second part is only true if you believe it's fair to compare a full lap in a standard BMW M3 with a favorable accumulation of sector times to a development prototype Giulia with 220 pounds stripped out of it and rolling on hand-cut racing slicks. No, me neither. A Promising Start The Giulia's all-new architecture was developed in just two years by a skunkworks of young engineers headed by Fiat's engineering prince, Philippe Krief, and (bafflingly) sited inside Maserati's headquarters complex in Modena, about three hours from Alfa Romeo's own Turin HQ.