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Why Italians are no longer buying supercars

Italy is the wound that continues to drain blood from the body financial of Italian supercar and sports car makers. The wound was opened by the country's various financial police who decided to get serious about superyacht-owning and supercar-driving tax cheats a few years ago, by noting their registrations and checking their incomes. When it was found that a rather high percentage of exotic toy owners had claimed a rather low annual income - certain business owners were found to be declaring less income than their employees - the owners began dumping their cars and prospective buyers declined to buy.
Car and Driver has a piece on how the initiative is hitting the home market the hardest. Lamborghini sold 1,302 cars worldwide in 2010, 1,602 cars in 2011 and 2,083 cars in 2012 - an excellent surge in just two years. In Italy, however, it's all about the ebb: in 2010, the year that Italian police began scouring harbors, Lamborghini sold 96 cars in Italy, the next year it sold 72, last year it sold just 60. The declines for Maserati and Ferrari are even more pronounced.
Head over to CD for the full story and the numbers. What might be most incredible isn't the cause and effect, but where the blame is being placed. A year ago the chairman of Italy's Federauto accused the government of "terrorizing potential clients," this year Luca di Montezemolo says what's happening has created "a hostile environment for ­luxury goods." Life at the top, it ain't easy.

Macron and Le Pen decry 'shocking' Stellantis CEO pay

PARIS — French President Emmanuel Macron and his far-right challenger in the French presidential vote, Marine Le Pen, on Friday both decried as “shocking” the multimillion euro payout to the CEO of carmaker Stellantis. Stellantis CEO Carlos TavaresÂ’ remuneration package of 19.15 million euros just a year after the company was formed became an issue as Macron and Le Pen campaigned ahead of the April 24 runoff vote. Polls show purchasing power and inflation are a top voter concern. Stellantis was formed last year through the merger of PSA Peugeot and Fiat Chrysler Automobiles. Centrist President Emmanuel Macron, perceived by many voters as being too pro-business, called the pay package “astronomical” and pushed for a Europe-wide effort to set ceilings on “abusive” executive pay. “ItÂ’s shocking, itÂ’s excessive,” he said Friday on broadcaster France-Info. “People canÂ’t have problems with purchasing power, difficulties, the anguish theyÂ’re living with, and see these sums. Otherwise, society will explode.” Far-right leader Marine Le Pen, who enjoys support from many working-class voters, called for bringing in more workers as shareholders. “Of course itÂ’s shocking, and itÂ’s even more shocking when it is the CEOs who have pushed their society into difficulty,” she said Friday on BFM television. “One of the ways to diminish this pay, which is often out of proportion with economic life, is perhaps to allow workers in as shareholders.” Stellantis continued to back the package despite a 52.1% to 47.9% vote rejecting it at an annual shareholders' meeting chaired from the Netherlands, where the company is legally based, on Wednesday. The company, citing Dutch civil code, noted that the vote is advisory and not binding. The company later said in a statement that it took note of the vote, and will explain in an upcoming 2022 remuneration report “how this vote has been taken into account.” In the 2021 report, the company identified peer group companies that it used as a salary benchmark, including U.S. companies like Boeing, Exxon Mobile, General Electric as well as carmakers Ford and General Motors. Stellantis, whose brands include Peugeot, Fiat, Jeep, Opel and Maserati, reported net profits last year had tripled to 13.4 billion euros ($15.2 billion). The French government is the third-largest shareholder in Stellantis, with a 6.15% stake through the Bpifrance Participations S.A. French public investment bank.

2023 Maserati MC20 Cielo First Drive Review: Fine-tuned from the top down

CATANIA, Sicily — “We wanted to give the Cielo the same behavior and character as the MC20 but with the sharp edges made a little smoother,” explained Federico Landini, the man in charge of the MC20Â’s development. Cielo is the name Maserati chose for the convertible MC20 — it means “sky” in Italian and sounds less generic than Spider, Spyder or another arachnid-inspired label. This new version of MaseratiÂ’s first supercar in over a decade slots in the range as a softer, more touring-oriented alternative to the coupe. While the two MC20s look a lot alike, Maserati ensured the Cielo has its own personality. Same heart, different bones Like the MC20 coupe, the Cielo is powered by MaseratiÂ’s excellent 3.0-liter Nettuno V6 engine, which is twin-turbocharged to develop 621 horsepower at 7,500 rpm and 538 pound-feet of torque from 3,000 to 5,500 rpm. While 600+ horsepower is par for the course in this segment, achieving that number with six cylinders is rather unusual. The engine develops 207 horsepower per liter of displacement. If every engine offered this level of power density, weÂ’d have a 414-horsepower Volkswagen Golf GTI to play with. This engine also powers variants of the Grecale SUV, though the MC20 models use a dry-sump lubrication system. Landini told me Maserati felt confident sending a V6 into a ring dominated by rivals with eight or more cylinders because it fitted the engine with both direct and indirect fuel injection systems. This innovative technology — which traces its roots to Formula One racing — adds pre-chambers inside the cylinder head and a second set of spark plugs to the 90-degree V6 to provide a 100-horsepower boost. Mid-mounted, the Nettuno spins the CieloÂ’s rear wheels via an eight-speed automatic transmission linked to a pair of steering-wheel-mounted shift paddles. Maserati quotes a 0-62-mph time of a little under 3 seconds and a top speed of approximately 199 mph, so the coupe is slightly quicker and faster. Giving up two or three tenths of a second to highway speeds and forfeiting a few miles per hour at the top end is a fair trade for unlimited headroom. Going topless also makes the Cielo about 143 pounds heavier than the coupe: it tips the scale at roughly 3,400 pounds, which remains reasonably light.