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Stellantis expects strike to cost it $795 million in third-quarter profits

MILAN — Automaker Stellantis said Tuesday that the autoworkers strike in North America is expected to cost the company around 750 million euros ($795 million) in profits — less than its North American competitors. The Europe-based maker of Jeep, Fiat and Peugeot reported a 7% boost in net revenues to 45.1 billion euros, with production halts caused by the strikes costing the company 3 billion euros in sales through October. The net revenue boost was due to higher volumes in all markets except Asia. Chief Financial Officer Natalie Knight told journalists that StellantisÂ’ strike impact was lower than the other Big Three automakers due to its global profile as well as some high-profile cost-cutting measures, calculating the hit at around 750 million euros ($795 million.) GM, the last carmaker to reach a deal to end the strike, reported an $800 million strike hit. Ford has put its impact at $1.3 billion. “We continue to be in a very strong position globally and in the U.S. This is an important market for us, and weÂ’re highly profitable and we are very committed to our future," Knight said. “But mitigation is core to how we act, and how we proceed.” Stellantis has canceled appearances at the CES technology show in Las Vegas next year as well as the LA Auto Show, due to the strike impact. Stellantis on Saturday reached a tentative agreement with the United Auto Workers Union to end a six-week strike by more than 14,000 workers at its assembly plants in Michigan and Ohio, and at parts warehouses across the nation. Stellantis does not report full earnings for the third quarter, instead providing shipments and revenues. It said that global sales of electric vehicles rose by 37% over a year earlier, powered by the Jeep Avenger and commercial vehicle sales. North America continued to be the revenue leader, contributing 21.5 billion euros, an increase of 2% over last year, and representing nearly half of global revenues. Europe, the next biggest performing region, saw revenues grow 5% to 14 billion euros, as sales rose 11%. Related video: Earnings/Financials UAW/Unions Alfa Romeo Chrysler Dodge Fiat Jeep Maserati RAM

Maserati rapidly expanding dealer network

With the new Quattroporte and Ghibli sedans out on the market, and the new Levante crossover and Alfieri coupe on their way, Maserati is making serious headway towards revitalizing its lineup. Now all it needs in order to reach its ambitious sales targets is to expand the network of dealers where they're to be sold. And according to Maserati chief Harald Wester in speaking to Automotive News at the Paris Motor Show, that's exactly what it has in store.
At the end of last year, Maserati had 79 dealerships across the United States. It has already boosted that number to 100 so far this year, but before 2014 is over, it plans to open another 20 to bring the total up to (carry the two, divide by the square-root of Pi)... 120 showrooms.
Globally speaking, Maserati reportedly closed 2012 with around 220-230 dealers around the world, and currently has about 355, but aims to close 2015 with a worldwide network of 450 dealers, representing a doubling of its network in two years' time. Having more than a quarter of those in the US alone is testament to how seriously Maserati takes the American market.

Lazareth LM847 packs a Maserati V8 into a leaning quad frame

You want to know what insanity looks like? This is it. It's called the Lazareth LM847, and to boil it down to its essence, it's basically a sport bike built around a Maserati V8. Now this isn't the first motorcycle we've seen packing a giant car engine. There've been more custom jobs than we could list here, and of course there's the Boss Hoss – an American cruiser with a 5.7-liter Chevy V8 at its heart. And we'd be loathe to leave out the V10-powered Tomahawk concept from this discussion. But this is another matter entirely. The LM847 is made by a French outfit called Lazareth. It's the same company responsible for the Wazuma quad bike, the Wazuma GT roadster, and that bonkers Renault Twingo with the Range Rover V8 in the back. In other words, Lazareth knows crazy, and hasn't skimped on it this time. For its latest project, Lazareth started with a 4.7-liter V8 – the kind you used to find the Quattroporte or Alfa Romeo 8C Competizione before Maserati started downsizing and bolting on turbos. It produces 470 horsepower and 457 pound-feet of torque, channeled through a single-speed hydraulic coupling in place of a multi-gear transmission. Strictly speaking, it's not a motorcycle, but a quad – owing to the tandem wheels at each end. But it has a saddle and handlebars, and looks like it would lean in a fair bit in the turns. We're not about to find out though, because we don't have a death wish. Related Video: