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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.

Maserati dedicates MC20 prototype to Stirling Moss

Maserati is paying tribute to Stirling Moss, the British race car driver who died on April 12, by wrapping one of its MC20 test mules in commemorative camouflage. The mid-engined sports car is due out in September 2020. It's a fitting homage, because Moss logged thousands of miles behind the wheel of Maserati race cars like the 250F (which he called one of his favorites), the 300S, and the famous Tipo 61 Birdcage. It's difficult to add retro-inspired styling cues to the camouflage applied to a prototype, but Maserati pulled it off well. It added simple, eye-catching red graphics of the racer's name to the MC20's rear end and over its wheel arches. The rest of the car is plastered in a Maserati-branded black and white wrap, though there's a red trident emblem on the roof. On a secondary and more lasting level, the images published by Maserati give us a better look at the MC20 — a name that likely won't be retained for production — than previous spy shots. The four round taillights fitted to earlier prototypes have been replaced by a pair of seemingly production-bound horizontal units. We can see the outline of its rear window, and the vents that let hot air escape the engine compartment. The rear panel is held down by four pins. Its front end remains relatively well hidden, though we spot a grille that's low and wide. "Sir Stirling Moss would certainly have liked the new MC20," Maserati summed up. It also reaffirmed its commitment to returning to "a leading role" on the racing circuits, meaning we'll likely see the MC20 driving flat-out on some of the world's greatest tracks shortly after it makes its debut. It was scheduled to break cover in May, but its unveiling was pushed back until September due to the coronavirus lockdown measures. When it arrives, the MC20 will inaugurate a twin-turbocharged V6 engine developed in-house and allegedly tuned to deliver over 600 horsepower. Unverified rumors indicate a hybrid model will join the lineup a little later in the production run with at least 700 horsepower on tap. It will be the first in a long line of new Maserati models, including the next-generation GranTurismo (which will again spawn a convertible) that will be available with an electric powertrain. The coupe will arrive in 2021, while the roadster should appear by the end of 2022. Related Video:     Featured Gallery Maserati MC20 Stirling Moss Spy Photos Maserati Luxury Performance stirling moss

Cars with the worst resale value in 2022

Car values are all over the map right now. Used vehicles that were worth a small fortune earlier this year are now coming back to Earth, but the new vehicle supply remains tight. Prices are still elevated overall, but some models have seen more severe price drops. Depreciation strikes almost every model, supply constraint or not, though a few vehicles are leading the way. New research from analytics iSeeCars found that a handful of cars depreciated more than 50 percent over five years, with the BMW 7 Series dropping 56.9 percent and an average price cut of $61,923 over that time. The vehicles with the highest depreciation — or worst resale value — over five years: BMW 7 Series: -56.9% Maserati Ghibli: -56.3% Jaguar XF: -54% Infiniti QX80: -52.6% Cadillac Escalade ESV: 52.3% Mercedes-Benz S-Class: 51.9% Lincoln Navigator: -51.9% Audi A6: -51.5% Volvo S90: -51.4% Ford Expedition: -50.7% iSeeCarsÂ’ research showed that midsize trucks, sports cars, and fuel-efficient vehicles were slowest to depreciate over five years, while itÂ’s clear that luxury brands tend to lose value much faster. As iSeeCarsÂ’ Executive Analyst Karl Brauer explained, used buyers donÂ’t value high-end vehiclesÂ’ features as much as the first owners, so resale values tend to be softer. The tech and options that made the cars so expensive and appealing new donÂ’t add the same value on the used market. Read more: Cars with the best resale value Interestingly, electric vehicles also depreciated quite heavily, though they were just short of the abysmal numbers in luxury segments. The Nissan Leaf depreciated most among EVs, dropping by 49.1 percent. The average EV depreciation is 44.2 percent, with the Tesla Model S and Model X sliding in right under the bar at 43.7 and 38.8 percent, respectively. As iSeeCars notes, itÂ’s important to be vigilant when car shopping and not let your emotions win over reason. Shiny new luxury cars look great in the showroom, but you could end up taking a bath when you try selling them a few years later on. Related video: Audi BMW Cadillac Ford Infiniti Jaguar Lincoln Maserati Mercedes-Benz Volvo Car Buying Used Car Buying Ownership Resale Value depreciation