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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.

Slow Chinese market delays Maserati and Alfa Romeo models

We already told you that Alfa Romeo was delaying the Giulia sedan and an unnamed CUV, but now things are getting worse. According to Bloomberg, Maserati has delayed the Alfieri sports car. And it's all China's fault. The faltering Chinese domestic market, which is experiencing its slowest period of growth in nearly three decades, is forcing Fiat Chrysler to rethink its plans for its Italian models, Bloomberg reports. Rather than going for models that would likely be popular in China, including the Alfa CUV and a larger sedan, the company will shift its focus and bring out updated MiTo and Giulietta hatchbacks, both of which would play better in Europe, an unnamed source within FCA told Bloomberg. This news is notable because it shows that FCA boss Sergio Marchionne's ambitious product transformation is not progressing as smoothly as planned. In the MiTo's case, the company is willing to go back on its original strategy. The subcompact hatch wasn't supposed to survive beyond 2016, but Bloomberg is reporting an update is due by the middle of next year. As for Maserati, well, there's not much to say. The Alfieri was supposed to go on sale next year, and now it's not. There's no word on how (or even if) Maserati's priorities will shift to another vehicle, or if this is simply a matter of money being distributed away from one of FCA's brands and toward another. Related Video: News Source: BloombergImage Credit: Andy Wong / AP Alfa Romeo Maserati Sergio Marchionne FCA alfa romeo giulia alfa romeo mito alfa romeo giulietta maserati alfieri

2024 Maserati GranTurismo First Drive Review: Striking balance

ROME — ItÂ’s easy to argue that the coupe is dead — especially big coupes with four seats. Never a huge segment to begin with, this slice of the market has shrunk in recent years as buyers flock to SUVs and carmakers allocate their development budget accordingly. In 2023, it makes more sense from a business point of view to slap the “coupe” label on a four-door crossover than to put it on a real coupe with two doors. Maserati isnÂ’t giving up. ItÂ’s not just business; itÂ’s also personal. ThereÂ’s a big chunk of its heritage built on four-seater coupes, so it completely reinvented the GranTurismo instead of throwing the nameplate into the darkest locker of automotive history. ItÂ’s still a coupe, and it still has four seats, but significant changes to the powertrain (including a smaller engine and all-wheel drive) aim to broaden its appeal. Maserati planted its flag on this turf in 1947 when it released its first road car, the Pininfarina-designed A6 1500 Gran Turismo, and it has never strayed far from it since. Its designers channeled this heritage into the second-generation GranTurismo without veering into retro territory or using a Xerox machine. “People often ask me, ‘Are you inspired by the past?Â’ WeÂ’re not copying elements, weÂ’re not copying styles necessarily, but we do allow ourselves to be inspired by the way we were constructing our cars back then,” Klaus Busse, the head of MaseratiÂ’s design department, told me. He cited the proportions as an example: sitting low to the ground, the GranTurismo features a long hood and a short trunk lid, which are shapes that have characterized dozens of cars positioned in the gran turismo segment for decades. Beyond the basic shape, the GranTurismo shares little with its predecessor — it illustrates what Busse meant in 2020 when he told me that the then-new MC20 would influence the rest of the range. ItÂ’s recognizable as a Maserati thanks in part to vertical headlights mounted above an oval grille, and of course it features the three fender-mounted vents that have become the Italian carmakerÂ’s signature. The coupe features a pure, fluid design with one exception: the fin-like protrusion on the roof. It houses a camera, and itÂ’s only fitted to GranTurismo models ordered with the digital rear-view mirror. I learned that integrating it into the trunk lid, like a rear-view camera, wouldnÂ’t have provided sufficient visibility.