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Stellantis earnings rise along with EV sales

AMSTERDAM — Automaker Stellantis on Wednesday reported its earnings grew in 2022 from a year earlier and said its push into electric vehicles led to a jump in sales even as it faces growing competition from an industrywide shift to more climate-friendly offerings. Stellantis, formed in 2021 from the merger of Fiat Chrysler and FranceÂ’s PSA Peugeot, said net revenue of 179.6 billion euros ($191 billion) was up 18% from 2021, citing strong pricing and its mix of vehicles. It reported net profit of 16.8 billion euros, up 26% from 2021. Stellantis plans to convert all of its European sales and half of its U.S. sales to battery-electric vehicles by 2030. It said the strategy led to a 41% increase in battery EV sales in 2022, to 288,000 vehicles, compared with the year earlier. The company has “demonstrated the effectiveness of our electrification strategy in Europe,” CEO Carlos Tavares said in a statement. “We now have the technology, the products, the raw materials and the full battery ecosystem to lead that same transformative journey in North America, starting with our first fully electric Ram vehicles from 2023 and Jeep from 2024.” The automaker is competing in an increasingly crowded field for a share of the electric vehicle market. Companies are scrambling to roll out environmentally friendly models as they look to hit goals of cutting climate-changing emissions, driven by government pressure. The transformation has gotten a boost from a U.S. law that is rolling out big subsidies for clean technology like EVs but has European governments calling out the harm that they say the funding poses to homegrown industry across the Atlantic. Stellantis' Jeep brand will start selling two fully electric SUVs in North America and another one in Europe over the next two years. It says its Ram brand will roll out an electric pickup truck this year, joining a rush of EV competitors looking to claim a piece of the full-size truck market. The company plans to bring 25 battery-electric models to the U.S. by 2030. As part of that push, it has said it would build two EV battery factories in North America. A $2.5 billion joint venture with Samsung will bring one of those facilities to Indiana, which is expected to employ up to 1,400 workers. The other factory will be in Windsor, Ontario, a collaboration with South KoreaÂ’s LG Energy Solution that aims to create about 2,500 jobs. The EV push comes amid a slowdown in U.S.

2023 Maserati Grecale Trofeo First Drive Review | Entry-level done right

RENO, Italy — Maserati is blowing with the SUV gales. Sedans remain an important part of its heritage, but they're no longer an important part of the new car market — especially not in the United States. Investing time and resources into filling sedan-sized gaps in the lineup would be like moving the deck chairs on a sinking cruise ship, so the Italian company is taking a different path to growth by expanding its SUV range. Named after a Mediterranean wind, the Grecale is positioned below the Levante and aimed directly at the Porsche Macan. It's not a supercar, but the Grecale is arguably the most important car that Maserati has ever released, one that could ultimately represent nearly half of its sales. I traveled to a town called Reno (not the place that Johnny Cash shot a man in) to get a feel for the smallest trident. First, let's dispel a myth: The Grecale is not merely a re-bodied Alfa Romeo Stelvio. Sure, both Italian people-movers are built on the Giorgio platform (which also underpins the Giulia and the latest Jeep Grand Cherokee), but several key changes were made in-house by Maserati. "We started with the Giorgio architecture, and we added the features that are typically found in upper segments: an air suspension system, for example," Federico De Medio, the company's head of vehicle validation, told me. "We were given the possibility to further improve this platform, and we were able to increase the wheelbase by (about 3 inches),"  He added that electronic tweaks were made as well. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The base Grecale GT consequently stretches 190.8 inches long, 76.7 inches wide, and 65.6 inches tall; the Modena and the Trofeo trim levels are 77.9 inches wide, while the latter measures 191.3 inches from bumper to bumper due to its specific body kit. Either way, the Grecale is relatively big for its segment: Porsche's Macan, its intended closest competitor, checks in at 184.3 inches long and is one of the smaller in the segment. The Grecale's weight ranges from 4,431 to 4,629 pounds. One look at the Grecale's front end shows what Maserati meant when it announced the MC20's exterior design would influence the rest of the range: the swept-back headlights are positioned above a wide grille with the trident emblem proudly positioned front and center. It's not a clone of the MC20, but the family resemblance is perceptible.

The Rolls-Royce Dawn leads this month's list of discounts

If you're one of the few readers of this site who is in the market for a $350,000 Rolls-Royce Dawn, well, first of all, good for you. And you should be prepared to keep some extra money in your pocket, too, as the drop-top Roller leads this month's list of the largest monetary discounts with an average of $14,733 taken off the machine's $359,250 sticker price. That means buyers are paying an average transaction price of $344,517 for the 2020 Rolls-Royce Dawn this month, according to data provided to Autoblog by TrueCar, which equals about 4.1% off the price on the sticker. An intriguing pair of supercars land in second and third positions this month. The 2019 Acura NSX is selling for an average of $145,174 this month, which represents a 9% discount, or $14,373. With an eerily similar 9% discount of $14,079 comes the 2020 Aston Martin Vantage, which has an average transaction price of $142,002 this month. The Maserati Quattroporte is up next with an average discount of $13,634. Another Rolls-Royce model lands in the fifth spot, but instead of the aging Dawn it's the brand-new Cullinan SUV. Although the luxury 'ute boasts a large discount of $12,427, its staggeringly high retail price of $332,750 means buyers are getting a little less than 4% off the sticker. More interesting to most buyers will be the 2019 Lincoln Navigator, which is one of our favorite full-size SUVs in America. Buyers of Lincoln's range-topping vehicle are getting average discounts of $11,761. That represents a 13.4% savings for a final price of $75,940. For a look at the best new car deals in America based on the percentage discount off their suggested asking prices, check out our monthly recap here. And when you're ready to buy, click here for the Autoblog Smart Buy program, which brings you a hassle-free buying experience with over 9,000 Certified Dealers nationwide. Related Video: