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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 introduces Ghibli to Americans in Super Bowl spot

Fiat Chrysler Automobiles aired three commercials during this year's Super Bowl, and the first spot was given to Maserarti during the first quarter of the big game. The 90-second ad was used by Maserati to introduce its new midsize Ghibli luxury sports sedan to a very captive American audience.
Called Strike, the Ghibli commercial tells the familiar tale of the little guy who waits around for the world's giants to let down their guard. Scroll down to watch the spot yourself and let us know if it lives up to the high bar that Chrysler brands have set for themselves in past Super Bowls.

Maserati Ghibli overtakes Levante, headed for Shanghai?

While earlier reports indicated that the next Maserati product out of the gate would be the Levante SUV, Motor Trend is now reporting that the Audi A7-shaped Ghibli has cut in line. Word is that we may see the new Ghibli as early as the Shanghai Motor Show in April.
Citing unnamed sources, MT predicts that the minds at Maserati now see a more pressing need to fight off the likes of the Mercedes-Benz E-Class and the BMW 5 Series than to go after luxury utes. However, if our spy shots of Ghibli prototypes are anything to go on, it's also likely that the sub-Quattroporte Maser won't be a traditional sedan. The car above's long nose, low roof and brief, sloping rear deck all bring to mind Audi's lovely A7, Meaning the Ghibli may fall into the always murky four-door-coupe/luxury hatchback genre.
Bi-turbocharged iterations of both a V6 and a V8 should make up the early powertrain choices for the Maserati, meaning the top-spec Ghibli should have loads of shove to match its promised good looks.