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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 surprises Manhattan with Centennial edition GranTurismo

The GranTurismo may be getting a little long in the proverbial tooth, but it hasn't quite been a century just yet. It has, however, been a hundred years since Maserati was originally founded, and to celebrate that milestone, the Modenese automaker has rolled in to the New York Auto Show this year with a pair of special editions. Available in either coupe or convertible form, the MC Centennial Editions arrived as a surprise just as the Alfieri concept was a month ago in Geneva, albeit somewhat less revolutionary.
The special editions are differentiated from any other by their paint scheme, special wheels, revamped interior and special badging throughout. Magma red and Inchiostro blue - the colors of the city of Bologna where the company was founded a century ago - are new to the Maserati catalog, and come with a choice of wheel options with special logos at the center. The interior color is specified to complement the exterior with red, white or blue trim and carbon-fiber accents.
Power comes from the same 4.7-liter V8 as the GranTurismo MC Stradale or GranCabrio Sport, driving 454 horsepower to the rear wheels through a six-speed automatic transmission. That's said to be enough to propel either coupe or convertible to a top speed of 185 miles per hour, and comes coupled with Brembo brakes and MC sport suspension. Deliveries commence in July, but you can scope it out here in the gallery of live images from the show floor above, the galleries of stock images below and the press release below that.

UPDATE: Stellantis says it is not selling Maserati

In a joint statement, Stellantis and Maserati have refuted reports that the Italian brand could be sold: Stellantis has no intention of selling the Trident brand, just as there is no intention of aggregating Maserati within other Italian luxury groups. Stellantis restates its unwavering commitment to Maserati’s bright future as the unique luxury brand within the 14 Stellantis brands. Maserati is in a transition period toward electrification with its Folgore BEV program: today the Trident offers GranTurismo and GranCabrio in ICE and BEV versions, Grecale in ICE, mild-hybrid and BEV versions, while we confirm that successors of the Quattroporte and Levante are also in preparation. Maserati's mission is to write the future of mobility through the best performance in the luxury segment, focusing on the desires of its customers. To achieve its goals, the brand precisely targets a highly specific audience. Maserati is therefore setting up a series of initiatives to expand its presence in the global market, to strengthen its brand image and to underline the uniqueness of its products. Maserati is facing a major challenge and must remain focused on its objectives in the coming months. Stellantis reaffirms its commitment to its entire portfolio of 14 iconic brands and recalls that each of them has a 10-year horizon to build a profitable and sustainable business, while recognizing that market volatility and temporary situations may cause fluctuations. The original story continues: Maserati posted disappointing sales and revenue figures shortly after Stellantis CEO Carlos Tavares warned that the group can't afford to have brands that don't make money. While nothing is set in stone, one of the group's executives said that selling the brand isn't off the table. Industry trade journal Automotive News Europe (subscription required) learned that Maserati sold approximately 6,500 cars globally between January and June 2024, down from around 15,300 units during the same time period in 2023. It posted an adjusted operating loss of ˆ82 million (about $88.7 million) during the first six months of the year, compared to a profit of ˆ121 million (about $130 million) in 2023. "The first half has been disappointing," admitted Natalie Knight, the chief financial officer at Stellantis, on a call with journalists.