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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

Maserati MC20 bringing twin-turbo V6 to September debut

There is a touch more information on the pieces going into the Maserati MC20, starting with intel to Car and Driver that the mid-engined coupe will launch with a "new twin-turbo V6 rumored to make more than 600 horsepower." Last time we heard about the flagship coupe created to return Maserati to the race track — and serve as a halo to burnish the entire lineup and drive more impressive global sales — the rumblings predicted a hybrid V6 making 600 hp or thereabouts. Mystery shrouds the engine's displacement, but the stillborn Alfa Romeo 8C and GTV were predicted to get a 3.0-liter twin-turbo V6. When Car magazine asked a Fiat Chrysler engineer if the MC20's engine would take that motor and enlarge it to 3.6 liters, the response was, "Displacement costs only pennies, but pays back big bucks in power and torque."  C/D writes that a hybrid version of the twin-turbo V6 comes later. Car predicts the electronics crank output to roughly 700 horsepower, which can't be a random number since Alfa Romeo touted the now-dead 8C as having "700+ combined horsepower." The naturally aspirated mill and its sequential turbochargers send power exclusively to the rear wheels through a Getrag eight-speed dual-clutch transmission. The hybrid models, perhaps earning the Trofeo name signifying top-tier grunt, go all-wheel drive with "e-modules" on the front axle. Previous scuttlebutt pegged the most intense trim as having three electric motors, which sounds like the setup found in other super coupes like the Acura NSX, placing one e-motor between the engine and transmission, the others on the front axle. The lineup eventually welcomes a battery-electric model, too, as well as a convertible. Rumor has a massaged version of the carbon tub from the Alfa Romeo 4C sitting between the front axle and engine, although longer and wider and sitting on a longer wheelbase.   With the novel coronavirus still upending everything, the MC20 debut has been moved from May to September. C/D figures a starting price of around $160,000 when the model goes on sale in the U.S. next year, after launching in Europe toward the end of 2020. That theoretical price might sound substantial, but it only adds $9,000 to the MSRP of the current GranTurismo Convertible. Car's figure comes in a little higher, at "less than GBP200,000," around $250,000 U.S. Related Video:      

Maserati MC12 GT1 looks, sounds great storming VIR

Maserati has been celebrating its 100th anniversary all year, but recent visitors to Virginia International Raceway might have gotten to see one of the coolest highlights of the whole centenary. The brand took its already amazing MC12 GT1 racer and painted it up to commemorate its 100th birthday, dubbing the model Maserati MC12 GT1 Centenario. That would be neat enough, but the spectators at VIR actually got to watch and listen to this special edition racecar lap the track with its spectacular exhaust note singing a fantastic tune.
It's rather rare to see these beastly V12 racers on track in the US these days, but they were quite successful in FIA GT1 competition in Europe several years ago. The sound that they make perfectly matches those purposeful, low-slung looks. Switch this video into HD and turn up the speakers to experience a look at this fantastic racecar.