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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

Junkyard Gem: 1991 Dodge Monaco LE

When Chrysler took over the American Motors Corporation in 1987, the hot-selling Jeep brand was the big prize of that deal. At a stroke, Iacocca's company got the XJ Cherokee (which remained in production into our current century) plus its Comanche pickup sibling, the Wrangler, the Grand Wagoneer, and the AMC Eagle as bonuses. The Eagle gave its name to Chrysler's new marque, which worked out well for quite a few years, and of course the PowerTech V8 engine began life as an AMC design. Yes, Chrysler made out like a bandit on the AMC purchase, but one of the most important acquisitions that came with that coup ended up being a Renault design from the last gasp of Kenosha: the Eagle Premier. Genetic material from this car made its way into Chrysler products for decades to come, and the Dodge Division got the opportunity to slap Monaco badges on the Premier for the 1990 through 1992 model years. Here's one of those super-rare cars in a Denver self-service yard. Dodge sold plenty of Detroit-designed Monacos from the 1965 through 1978 model years, and so the name seemed ripe for a revival in 1990. We rated the 1974 Dodge Monaco "Bluesmobile" #3 on the Best Movie Cars of All Time list, and Monacos may be found in countless cop movies and TV shows over the decades. Did the name belong on a Renault design? Absolutely! The radical-looking and big-selling Chrysler LH cars were built on a modified Eagle Premier chassis, enabling Chrysler to print money from a 1980s Renault design all the way through 2004. After that, Mercedes-Benz engineering (with a dash of Mitsubishi thrown in for good measure) got stirred into the mix, but I'm told by a Chrysler engineer that you can still see the Renault 25 structure beneath the dashboard in modern Challengers and Chargers. All of this comes thanks to Lee Iacocca's score of that advanced European car way back in 1987. One thing from the Premier that Chrysler dropped like a monkey dropping a red-hot penny once production of the Premier/Monaco ended: the PRV V6, a sophisticated-but-flaky overhead-cam V6 originally developed by a partnership between Peugeot, Renault, and Volvo (hence the acronym). This engine achieved its greatest fame as the powerplant that went into the DeLorean DMC-12. You could get the chugging AMC 2.5-liter straight-four in the Eagle Premier, but all the 1990-1992 Monacos got the 3.0-liter PRV, rated at 150 horsepower.

BMW tops Consumer Reports 2023 Brand Report Card

Feels like we wrote about Consumer Reports' 2022 Brand Report Car and 10 Top Picks a few weeks ago, but it was last April. So the mag is back with a ranked roster of 32 brands and 10 vehicles in four categories for your debating pleasure. Starting with the brands, last year's top three were Subaru, Mazda and BMW. This year, the Munich crew climbed two spots to win the prize thanks to "Superb road test scores and solid results in CR’s reliability and owner satisfaction surveys." Subaru narrowly fell to second, maintaining its four-year run in the top three. Mini, eighth last year, jumped five spots to get the last step on the podium. The rest of the top 10 were Lexus (up one spot from last year), Honda (down one spot from last year), Toyota (up three), Genesis (up 12), Mazda (down six), Audi (down three) and Kia (up eight). The magazine and testing outfit says its Brand Report Card "[reveals] which automakers are producing the most well-performing, safe, and reliable vehicles based on CRÂ’s independent testing and member surveys," and that "Brands that rise to the top tend to have the most consistent performance across their model lineups." Last year's top 10 had six automakers from Japan, three from Germany (giving Mini credit for England), none from the U.S. or South Korea, and five luxury brands. This year's list counts five makes from Japan, two from Germany because Porsche fell out of the top ten, two from South Korea, still none from the U.S., and four luxury brands. Buick again ranked as the best domestic, dropping to 12th after being 11th last year. The big mover was Lincoln, its 10-place jump up to 16th attributed to better reliability from the Corsair and Nautilus. Tesla's improved overall reliability saw it climb six spots to 17th. Dodge climbed one spot to 15th. Jeep got out of the penalty box in last to come second-to-last. Land Rover fell three places into the penalty spot.  CR's top 10 vehicle models The 10 Top Picks list is practically a new list. Only two holdovers made it to 2023, those being the Subaru Forester and Kia Telluride.