2008 Maserati Quattroporte Executive Gt Fully Serviced At Dealer Rare Color on 2040-cars

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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.

Fiat Chrysler open to mergers, and PSA is looking for one

GENEVA — Fiat Chrysler (FCA) is open to pursuing alliances and merger opportunities if they make sense, but a sale of its luxury brand Maserati is not an option, Chief Executive Mike Manley said on Tuesday. "We have a strong independent future, but if there is a partnership, a relationship or a merger which strengthens that future, I will look at that," Manley told reporters at the Geneva Motor Show. Asked whether he would consider selling Maserati to China's Geely Automobile Holdings, as suggested by recent media reports, Manley said: "Maserati is one of our really beautiful brands and it has an incredibly bright future. ... No." FCA is often cited as a possible merger candidate. Bloomberg said this week that the Italian-American carmaker was attractive to France's PSA Group given its exposure to the U.S. market and its popular Jeep brand. The Detroit News' headline on the situation Friday read, "Fiat Chrysler CEO open to a deal as PSA circles" and stated that Manley's open-to-just-about-anything comments were aimed directly at PSA. Bloomberg said talks between the two were preliminary and said PSA chief Carlos Tavares has also contemplated mergers with General Motors or Jaguar Land Rover, which is losing money for Indian owner Tata. PSA has enjoyed a decade of turnaround and has $10.2 billion in net cash available. The maker of Peugeot, Citroen and DS, acquired Opel and Vauxhall in 2017 and made them almost instantly profitable. Manley, who took over after the death of Sergio Marchionne, said he currently had no news on possible deals. Manley also said the world's seventh-largest carmaker, which is lagging rivals in developing hybrid and electric vehicles, would take the least costly approach to comply with increasingly more stringent European emissions regulations. "There are three options. You can sell enough electrified vehicles to balance your fleet. Two: You can be part of a pooling scheme. Three is to pay the fines," he said. "I don't see a scenario when (carmakers) continue to subsidize technologies ... indefinitely." The carmaker had said last June it would invest 9 billion euros ($10.19 billion) over the next five years to introduce hybrid and electric cars across all regions to be fully compliant with emissions regulations. Asked about a 5-billion-euro investment plan for Italy FCA announced in November but then put under review, Manley said the plan had been confirmed as originally presented.

Maserati Levante is Italy's answer to the Porsche Cayenne

When Maserati released the first images of the new Levante – and said little else about it – we wondered what it would be under the hood. Crossover or not, it is still a Maserati, after all. The full details are now here. Globally speaking, Maserati will offer the Levante with three engine options. All of them are turbocharged 3.0-liter V6s, but they vary widely in output and even burn different types of fuel. The base model packs 350 horsepower and 368 pound-feet of torque for a 0-62 time of 6.0 seconds flat – the same as the base Ghibli, but four tenths slower with a bigger form to move. The Levante S offers a rather impressive 430 hp and 427 lb-ft (more than the Ghibli S) for a 5.2-second sprint. And while the diesel model has the least power, it also offers the most torque, at 275 hp and 442 lb-ft (slightly more than the oil-burning sedan) for a 6.9-second time. Whichever engine is chosen, it comes mated to an eight-speed automatic transmission, all-wheel drive, and a limited-slip differential. Those output figures compare rather favorably to the Porsche Cayenne with which the Levante will invariably be compared. But Porsche and Maserati aren't the only high-end, old-world automakers that have now broken into the crossover game. So have Bentley and Jaguar, and soon so will Aston Martin, Lamborghini, Lotus, and Rolls-Royce. It's all part of an onslaught of crossovers coming from some of Europe's most vaunted marques. And while Maserati hasn't gotten there first, it hasn't gotten there last, either. With two sedans already out and a new sports car on the way, the Levante puts the Modenese automaker in prime position to grow, and grow big. View 21 Photos View 4 Photos Related Video: MASERATI LEVANTE DEBUTS AT THE GENEVA MOTOR SHOW Maserati's first SUV receives its eagerly-anticipated world unveiling at the Geneva International Motor Show Modena, 01 March 2016 – Maserati has chosen the 86th Geneva International Motor Show to introduce the first SUV in its hundred-year history: the Levante. As with many Maseratis from the past, the new car's name is inspired by a wind: the Levante is a warm Mediterranean wind that can change from a light breeze to an irresistible natural force in an instant, mirroring the character of the first Maserati SUV. The Levante is the ideal complement to the Maserati range. Combined with the Quattroporte, Ghibli, GranTurismo and GranCabrio, the range now covers the entirety of the global luxury automotive market.