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Stellantis says its 2021 performance has been better than expected

MILAN — Stellantis softened up investors ahead of its electrification strategy event on Thursday by flagging that 2021 got off to a better-than-expected start despite a chip shortage that has hit automakers worldwide. Stellantis, which was formed in January from the merger of Italian-American automaker Fiat Chrysler and France's PSA, faces an investor community keen to hear how it plans to come up with a range of electrified vehicles (EVs) to rival Tesla. At its "EV Day 2021" kicking off at 1230 GMT, Stellantis will disclose significant investments in electrification technology and connected software as it aims to be an industry frontrunner, it said in a statement. In April, Chief Executive Carlos Tavares said it would offer low-emission versions — either battery or hybrid electric — of almost all of its European models by 2025, and they should make up 70% of European sales and 35% of U.S. sales by 2030. Stellantis, the world's fourth-biggest automaker, has 14 brands in its stable, including Jeep, Ram, Opel, Fiat, Peugeot and Maserati.   Stellantis EV Day coverage: Dodge will launch the 'world's first electric muscle car' in 2024 Fully electric Ram 1500 will begin production in 2024 Jeep will have 4xe plug-in hybrid models across the lineup by 2025 Stellantis teases mystery electric Chrysler concept Stellantis previews 4 electric platforms: Here's how they'll be used Fiat says all Abarth models to be electric from 2024 Opel Manta E will be the electric revival of the classic German coupe Stellantis says its 2021 performance has been better than expected   At a similar EV strategy event last week, French rival Renault announced that 90% of its main brand models would be all-electric by 2030, whereas previously it had included hybrids in its target. Germany's Volkswagen, the world's second-biggest automaker after Toyota, expects all-electric vehicles to make up 55% of its total sales in Europe by 2030, and more than 70% of sales at its Volkswagen brand. Stellantis said its margins on adjusted operating profits in the first half of 2021 were expected to exceed an annual target of between 5.5% and 7.5%, despite production losses due to a global shortage of semiconductor supplies. Stellantis shares listed in Milan were down 2.6% at 0920 GMT, underperforming the broader European car index. Bestinver analyst Marco Opipari said Thursday's news was positive but that the stock was suffering from profit taking as it had moved up about 20% since the end of April.

A Ferrari SUV? First you'll have to shoot Marchionne

Almost every car company has its own SUV in the range. Porsche added this kind of vehicle almost 15 years ago and it may have saved the company, Bentley decided to join this growing segment launching the Bentayga, and Jaguar is doing the same with the F-Pace. Everyone is trying to get the most from the growing Asian market (China especially) launching models very appreciated over there. But not Ferrari. This is what came out from an earnings call with the Ferrari CEO where analysts asked how he was thinking to reach the goal of selling 7,000 units/year, balancing the slump of 22% of the Chinese market: "I don't think it's going to recover this year," said Marchionne, "but we won't make an SUV. You have to shoot me first." Since the spin off from Fiat Chrysler Automobiles, Ferrari's share price has fallen and this news is not good for investors that expected high profit for 2016. Ferrari has a racing history, and SUVs are not to be part of this history any time soon; the image of the Prancing Horse would come out damaged from this choice and Marchionne seems to know it very well. Related Video: Image Credit: Ferrari Ferrari Crossover SUV Sergio Marchionne open road

UPDATE: A Ferris Bueller replica Ferrari is headed to auction this week

UPDATE: The Ferris Bueller Ferrari 250 GT California crossed the auction block on Saturday at Barrett-Jackson, and it hammered for $396,000. That's just a touch less than what one of the other Bueller replicas sold for last, so the enthusiasm for the movie isn't dying off yet. Barrett-Jackson called it a "crowd favorite"  — it rolled onto the stage to the "Oh Yeah" theme song used in the movie. If you don't care too much for originality but love Ferris Bueller, we'll call this one a good buy. An original 250 GT California would've sold for many millions more. Would you like to own a Ferrari, or a piece of movie history? How about a little of the latter that is pretending to be the former? In any other year, even noteworthy auction listings popping up this week probably would have drowned in the rising tide of auto show news, but with the Detroit auto show punted to June this year, we've been inundated with some fantastic auction finds, including this Hollywood icon that was built for one of John Hughes' greatest films.  This 1963* Modena Spyder California is maybe one of the best-known Ferrari replicas in the world, and it's slated to cross the block at Barrett-Jackson Scottsdale this weekend. It takes an eagle-eyed auto enthusiast to recognized the Bueller fakes for what they are, but the fact that they're replicas of the Ferrari 250 GT California doesn't really hurt their value. In fact, it makes it even easier to verify their provenance. Granted, real-deal 250 GTs are going for stupid money, but we find it hard to believe that a little Matthew Broderick stardust would really make much difference when examples are being auctioned off for more than $17 million.  As Road & Track points out, the other running movie replica sold for more than $400,000. Fortunately, there were three of these replica models built for the film, so the buying public is getting yet another crack at one. Two of the replicas were runners, and the third was effectively an unladen stunt double used for the infamous scene where Alan Ruck's Cameron Frye works out his daddy issues by sending pop's precious collector's item straight through the side of their Highland Park Frank Lloyd Wright.  You know, the sort of thing your average angsty American teenager did before Twitter was invented.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The replica is not just a looker; it's a driver.