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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

Jeep's 3-row crossover SUV caught inside and out

Jeep is continuing to test its upcoming three-row full-size crossover, as evidenced by new spy photos shown above. Though the exterior doesn't reveal much new, we do get our first look at the inside of the new SUV. Unfortunately, the interior is well-camouflaged. We can tell it has the same corporate steering wheel and shifter as found on other Jeeps such as the Grand Cherokee. It also has highly-stylized gauges and needles, with an LCD display between the two main dials. The gauge cluster is interesting with a dial layout that is completely different from the two-row Grand Cherokee and the three-row Dodge Durango, indicating it doesn't borrow much on the inside from those vehicles. The tachometer is clearly visible, too, and it shows a redline of about 5,500 rpm. That redline corresponds with the turbocharged four-cylinder found in the Wrangler, Cherokee, and, in single-overhead-cam form, the Alfa Romeo Giulia and Stelvio. So it seems this big Jeep may have that four-cylinder engine, probably in the twin-cam Jeep iteration. This would also match previous reports, but we're sure if there will be other engine options. Based on leaked images of the SUV, it bears a passing resemblance to the Jeep Yuntu concept that was shown in China in April 2017. Those leaked images also reveal the name "Grand Commander." Many of the leaks and information about the big Jeep have been related to China, but with automakers such as Subaru and Volkswagen expanding into large three-row SUVs, we wouldn't be surprised if the big Jeep comes here, too. We could also see it carrying the old Grand Wagoneer name. Related Video:

FCA delays Grand Wagoneer and next-generation heavy-duty Ram trucks

The upcoming Jeep Grand Wagoneer has had a tumultuous gestation thus far. At one point it was essentially confirmed, but later it was rumored to have been cancelled. In that context, the latest report from Automotive News is something of a mixed blessing. According to the publication, the Grand Wagoneer has simply been delayed, as has the next-generation Ram heavy duty truck line. This does not seem to affect the fully redesigned Ram 1500, which was previously reported to have been pushed back slightly to 2019. Automotive News says the information came from unnamed sources at the company. Nothing was said about how long the vehicles would be delayed. The publication also conjectures that FCA is delaying the models to save some money to help cover the company's $7 billion of debt , since re-tooling both the heavy-duty truck plant and eventual Grand Wagoneer plant will be expensive. View 6 Photos We reached out to Chrysler for more information on the subject, but the company wouldn't comment on the report. Even so, we wouldn't be too surprised if FCA is indeed delaying these products. The company has delayed a number of vehicles in recent years. In fact nearly every major FCA truck and SUV, including the Grand Wagoneer and Ram line, were delayed about a year and a half ago. We certainly hope the company doesn't delay the Grand Wagoneer for too long, since it's possible it will have a price tag of over $130,000. The profit margins on an SUV with that kind of MSRP would go a long way to helping to pay down the company's debt. Related Video: