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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 reorganizes, tries to sharpen the trident

When's the last time we posted on a run of comprehensive success at Alfa Romeo or Maserati? True, Maserati nearly tripled its U.S. sales from 4,768 in 2013 to 12,942 in 2014. However, the brand's been stuck around that number ever since, selling 13,711 units in 2017. Worse, those figures highlight how far Maserati has fallen behind its own goals. In the last five-year plan, the brand targeted 75,000 global sales this year — then downgraded the target to 50,000 in June this year. At 26,400 units through the first nine months of 2018, short of Poseidon surfacing to work some deus ex machina, even that reduced goal won't be met. New Fiat Chrysler CEO Mike Manley is working to give Maserati the leaders and support it needs to point the trident in the right direction. On an analyst call at the end of October, Manley said, "With hindsight, when we put Maserati and Alfa together, it did two things. Firstly, it reduced the focus on Maserati the brand. Secondly, Maserati was treated for a period of time almost as if it were a mass market brand, which it isn't and shouldn't be treated that way." In October 2016, FCA named Reid Bigland to head Alfa Romeo and Maserati; this was back when Alfa Romeo dreamed of selling 400,000 cars annually by 2018. When Manley named his new executive teams last month, after assuming the CEO post following Sergio Marchionne's death in July, Manley separated Alfa Romeo and Maserati. Tim Kuniskis, who had taken over from Bigland, now heads Alfa Romeo and Jeep. Manley then restored Harald Wester to the head of Maserati. Wester ran Maserati from 2008 to 2016, after which he became FCA's chief technology officer, a role he maintains in the latest shuffle. Wester poached Jean-Philippe Leloup from Ferrari. LeLoup ran Ferrari's Central and Eastern European business operations; he now heads a concern called Maserati Commercial. Al Gardner, head of Maserati's North American dealer network since 2015, keeps that role and takes over as head of Maserati North America. Maserati has favorable brand value, but the leadership will confront almost every other problem a brand can have. Half the automaker's sales come from China, and the economic slowdown there is a serious drain on the numbers. In Europe, the WLTP emissions protocol, bloated inventories, and the need for incentives have dulled the edge. Sales worldwide are down 26 percent this year.

2024 Maserati GranCabrio previewed in official photos

The new 2024 Maserati GranTurismo made its official debut in September 2022, so it stands to reason that the GranCabrio is right around the corner. It's not ready for its big debut yet, but "official spy shots" released by the company give us a decent idea of what to expect. While the prototype is covered in camouflage, we can tell it looks a lot like the GranTurismo from the rocker panels to the belt line. That's not a bad thing: The second-generation coupe is characterized by an elegant, swoopy design that perfectly embodies the definition of a grand tourer. Above the belt line, the GranCabrio receives a power-operated cloth soft top. Photos of the interior haven't been released yet, though it's reasonable to assume the coupe and the convertible will look a lot alike from the driver's point of view. Maserati told Autoblog that the GranCabrio range will mirror the GranTurismo's, so buyers will have three variants called Modena, Trofeo, and Folgore to choose from. Power for the Modena will come from Maserati's excellent Nettuno engine, a 3.0-liter V6 that's twin-turbocharged to 490 horsepower and 443 pound-feet of torque. This engine was developed in-house, and it's also found in the MC20 and the Grecale. Next up is the Trofeo, which will receive an evolution of the six rated at 550 horsepower and 479 pound-feet of torque. The engine will spin the four wheels — that's a significant change, as the original GranCabrio was rear-wheel-drive — via an eight-speed automatic transmission. Alternatively, the electric Folgore model will use three motors rated at a combined 751 horsepower and 996 pound-feet of torque. That system is built around an 800-volt electrical system and linked to a 92.5-kilowatt-hour lithium-ion battery pack. "We're going to let buyers decide [whether they prefer the V6 or the EV]; we can scale production up or down depending on demand. We don't want to influence our customers' choice," William Peffer, the head of Maserati's North American division, told Autoblog. Additional details about the 2024 Maserati GranCabrio will emerge in the weeks leading up to its launch, which is scheduled for early 2023.