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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

Car designer Frank Stephenson wants to show you something ... smaller

Influential car designer Frank Stephenson has often thought small. Now he’s thinking smaller. Throughout the past three decades, he has shaped — literally — some of the most indelible designs in automotive history: the modern Mini, the Ferrari FXX track star, the Maserati Gran Sport, a range of stunning McLarens and down to the funky 21st-century version of the Fiat 500. Now heÂ’s turned his pen to fashioning watches. His Cosmos analog piece, made to mirror “a black hole in space” and detailed “with an orange pinstripe which simulates the supernova glow of a neutron star,” features a Japan-built quartz movement and was created in concert with the Time Concepts company. “ItÂ’s the age-old adage ‘car people are watch people,Â’ so it was a natural step for me to get creative with timepieces too,” Stephenson said in a statement. “The collection showcases the love I have for exceptional and emotionally charged design, just like what is required in designing world class cars.” While Stephenson, who is 64, may be best known publicly for his vision of “affordable style” with the Mini and the Fiat, his ethos also translated to the utilitarian. In the case of BMW in the mid-1990s, the company was hustling to market an SUV, and turned to him for inspiration. His team had six months to complete the project. The result was the high-end X5, which Stephenson sketched during a two-hour flight. In 2018, Stephenson established the independent design company, Frank Stephenson Design, based in London. Related video: Design/Style BMW Ferrari Fiat Maserati McLaren MINI Gadgets watch frank stephenson

Orange 2007 Maserati MC12 Versione Corsa is a 755-hp track tiger, and it's for sale

Maserati will enter a new era when it launches an all-new vehicle called the MC20 in May. As the name tips, the upcoming super sports car will be the spiritual successor to the MC12, one of the greatest Maseratis (and greatest cars) ever produced. So the timing couldn't have matched up any better when the ultimate form of the MC12 popped up for sale. Girardo & Co. is currently offering an orange-over-black MC12 Versione Corsa, one of only 12 ever built, and it is undeniably special. Girardo touts the MC12 Corsa as the most powerful Maserati ever built, not surprising considering the Ferrari Enzo-sourced MC12 was related to a race car. The MC12 was the road-going homologated version of the MC12 GT1, which dominated during its time in international GT racing. The GT1 had an air-restricted 6.0-liter V12 that made 580 bhp, while the MC12 made 630. But the Corsa was different. The Corsa, which is not street-legal and is intended for non-competitive track use only, is based on the GT1, but it didn't have to play by all of the rules and regulations required of a race car. That meant no air intake restrictions. With the shackles off, the Corsa's V12 increased its output to 755 horsepower at 8,000 rpm. Weighing in at 2,535 pounds without liquids, thanks in part to the carbon fiber and Nomex honeycomb sandwich monocoque, the Corsa is capable of a 202.5-mph top speed. Maserati claims zero to 124 mph in 6.4 seconds. Gear work is handled by a six-speed sequential semi-automatic Cambiocorsa gearbox, and stopping power comes from carbon ceramic brakes. Whereas Maserati built 50 examples of the MC12 road car, the Corsa model was significantly more limited. In total, 13 examples were built, and one was a prototype. This specific car, chassis No. ZAMDF44B000029631, is No. 8 of 12, and it has an interior plaque that says, "Commemorates the victory at its maiden long distance race the 24hrs of Spa. A first in racing history." Originally, the cars were offered to top-tier customers through invitation to purchase the vehicle for $1.1 million, by today's conversion rates.  Although the price is not listed, we expect today's purchase number to be significantly higher. In 2017, a different Corsa was listed for $2.75 million. Check out more details and photos on Girardo & Co. Related Video: