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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

2020 Maserati Ghibli getting a hybrid powertrain, start of brand revamp

Maserati has officially announced its product plans for the next couple of years, and the company is beginning to embrace electrification. It all starts next year with the 2020 Maserati Ghibli, which will receive a hybrid powertrain. Maserati didn't specify whether it would be the only powertrain, but we would expect that it will still offer some fully gas-powered engines such as the 424-horsepower turbocharged 3.0-liter V6 in the current model. In the same year, we'll finally see Maserati's next sports car that the company has confirmed will have electric power. By all accounts, it should be the production version of the Alfieri concept that made its debut five years ago. Maserati also confirmed that the Alfieri will not replace the GranTurismo. Instead, the GranTurismo will be getting a new generation. Reports say the new GranTurismo will arrive in 2021. Maserati will also add another crossover to its lineup. Reports say it will be smaller than the Levante. We should see it sometime in 2020, since early production tests will wrap up late that year and in early 2021. Maserati didn't say specifically if there will be an electrified version, but past reports would suggest at least a hybrid will be available. Finally, Maserati mentioned that Quattroporte, Levante and Ghibli will all continue on with some updates. Expect mild facelifts and powertrain updates to them over the next couple of years, rather than a major redesign. Maserati will also be developing more advanced driver assist systems, including a system similar in scope to Cadillac Super Cruise that will allow hands-free highway driving and lane changes.

Maserati Ghibli dies by 2024, replaced by smaller Quattroporte EV

In March, when Maserati divulged some of its electrification plans, the automaker's head of product planning said: "We strongly believe that there is a future for the sedan, but probably not for two sedans. One will be enough to meet demand." The company made it clear which of its two sedans would get the nod by letting the world know that the next-gen Quattroporte sedan and Levante crossover would get electric powertrains only. We have a timeline for the demise of the smaller four-door, Maserati's Australian general manager Grant Barling telling Australian news outlet Drive that "The Ghibli will move into run-out phase into 2024." Assuming international markets are on the same timeline, that gives Ghibli intenders two years to stump up the cash for the mid-size Italian thoroughbred. What's good for the Ghibli, but bad for enthusiasts, is that the BMW 5 Series competitor won't cross the Styx alone — it's taking the Ferrari-sourced F154 twin-turbo 3.8-liter V8 with it. In Ghibli Trofeo trim, that engine produces 580 horsepower, 538 pound-feet of torque, and an engine note that will let every creature in the underworld know, "I'm coming."  And yet the Ghibli isn't going away completely. Barling said, "The plan is for the Ghibli and Quattroporte to become one. So the Quattroporte will become a short-wheelbase [model] – Ghibli-sized, but called a Quattroporte." Seems Maserati likes the Ghibli sales volumes but Quattroporte brand recognition. The Ghibli made up 33% of Maserati's global sales last year while the Quattroporte only accounted for 7%. The former nameplate returned in 2013 as a four-door sedan after being a 2+2 grand tourer hardtop and convertible as well as a four-seat coupe, while the Quattroporte has been on sale as a luxury sedan continuously through six generations since 1963.  If there's an ICE engine to keep the Maserati sound alive, it will be the twin-turbo 3.0-liter Nettuno V6 launched with the MC20. The Folgore electric trims will be responsible for the other side of Maserati sound, starting with the GranTurismo Folgore debuting next year with three motors and around 1,200 horespower.   Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Maserati Grecale walkaround