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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.

Maserati recalls 28k sedans for unintended acceleration

The Basics: Maserati is recalling 28,235 examples of the 2014-2016 Quattroporte and Ghibli sedans built between February 1, 2013, and November 30, 2015. The Problem: The anchor securing the driver's side floor mat could come loose, allowing the mat to get jammed underneath the accelerator. Injuries/Deaths: The investigation stemmed from four reported incidents of the accelerator getting stuck, but no accidents or injuries were reported to have resulted. The fix: Maserati dealers will replace the floor mat and possibly the accelerator pedal cover as well, starting at the end of April 2016. If you own one: Expect to hear from the manufacturer to arrange an appointment with your local dealer. In the meantime, watch out that the floor mat doesn't get stuck under the pedals. Related Video: RECALL Subject : Floor Mat Interference with Accelerator Pedal Report Receipt Date: MAR 01, 2016 NHTSA Campaign Number: 16V122000 Component(s): VEHICLE SPEED CONTROL Potential Number of Units Affected: 28,235 Manufacturer: Maserati North America, Inc. SUMMARY: Maserati North America, Inc. (Maserati) is recalling certain model year 2014-2016 Quattroporte and Ghibli vehicles manufactured February 1, 2013, to November 30, 2015. In the affected vehicles, the driver-side floor mat anchor may break allowing the floor mat to move and get trapped between the accelerator pedal and the vehicle carpet. CONSEQUENCE: If the floor mat moves and becomes trapped between the accelerator and the vehicle carpet, it may result in very high vehicle speeds, which could cause a crash, serious injury or death. REMEDY: Maserati will notify owners, and dealers will replace the driver-side floor mat and possibly the accelerator pedal cover, free of charge. The recall is expected to begin April 29, 2016. Owners may contact Maserati customer service at 1-201-816-2600. Maserati's number for this recall is 301. Note: These vehicles are equipped with a brake override system. In the event a pedal is trapped, pushing on the brake pedal will brake the vehicle and enable the driver to slow and stop and turn off the vehicle. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov.

2019 Maserati Levante Trofeo Drivers' Notes Review | A mixed bag

The first thing you need to know about the 2019 Maserati Levante Trofeo is that it's the most powerful vehicle Maserati currently makes, outgunning models like the GranTurismo and Quattroporte GTS by a good margin. In fact, the only production Maserati more powerful than the Levante Trofeo was the V12-powered MC12 Versione Corse. The Trofeo's 3.8-liter twin-turbo V8 is built by Ferrari and shares more than a little with that company's current crop of V8 engines. The biggest difference is that this engine uses a cross-plane crankshaft in place of Ferrari's flat-plane crank as well as a wet sump oiling system. The Trofeo hits 60 mph in just 3.7 seconds on its way to a top speed of 187 mph. The styling is more aggressive than the already bold Levante GTS thanks to 22-inch wheels, carbon fiber trim and a new hood with vents to help cool the engine. Inside the cabin, nearly every surface is covered with leather and carbon fiber. Now, all this comes at a cost. The Levante Trofeo starts at $169,980, $39,000 more than a Levante GTS and more than twice as much as a base model. You're mostly paying for performance and styling since most of the features on our tester like the upgraded leather upholstery and four-zone climate control can be found on lesser Levantes. Editor-in-Chief Greg Migliore: Ferrari is ending its deal to supply engines to Maserati. That's a shame — for Maserati. The 3.8-liter twin-turbo V8 in the Levante Trofeo is a riot, and it gives this golden-retriever-hauling crossover the feel of a true Italian sports car. You might know this engine from the Ferrari Portofino. It's lightly modified and built on the same line in Maranello, Italy. Mash the gas and this thing emits a growl that grows more guttural as the revs build. It sounds pretty good at 3,000 to 4,000 rpm, which is about all you can sensibly summon in the suburbs. I've driven the twin-turbo V6, which is also solid and also supplied by Ferrari, but trust me, you want the V8. The rest of the Levante is attractive, though it's not the most practical thing around. I was able to get a rear-facing car seat in the back, and my toddler certainly enjoyed his first ride in a Maserati. Other thoughts: I like the elevated ride height, toothy grille and curvy fenders. The Levante is a compelling option in this expensive segment designed for Rich Uncle Pennybags. If that's you, don't scrimp with six cylinders. Go with the V8.