Latest news with #MaseratiMC20
Yahoo
4 days ago
- Automotive
- Yahoo
Struggling Stellantis Picks Insider to Steer Turnaround Effort
Stellantis has brought new meaning to car trouble, and now it's hoping a shakeup at the top will help it steer clear of a fiscal dead end. The multinational automaking giant — one of Detroit's Big Three by virtue of its Chrysler ownership — announced Wednesday that Americas COO Antonio Filosa will soon sit in the driver's seat as its chief executive officer. He'll be called upon to maneuver out of a veritable traffic jam of issues, including his predecessor's strategic blunders, the looming tariff war, and a challenging global auto market. READ ALSO: E.l.f. Soars After $1 Billion Pow(d)er Move to buy Hailey Bieber's Rhode and Omada Health Preps to Go Public as IPO Market Revives When France's Groupe PSA and American-Italian Fiat Chrysler merged to form Stellantis in 2021, it brought Chrysler, Dodge, Jeep, Fiat, Maserati, Alfa Romeo, and more under one roof. The new automaking behemoth promised billions in savings through synergies and collaboration on emerging technologies, such as electric vehicles. And, for a minute, it delivered. Under its first CEO, Carlos Tavares, the new group achieved a record $20 billion in net profit in 2023, an 11% year-over-year increase, and a record $203 billion in net revenue. And then, faster than a Maserati MC20, his strategy went south. Under Tavares, Stellantis hiked prices during the pandemic like most automakers — roughly 50% from 2019 to 2024 in its case, compared with 23% inflation. But then, unlike others, it refused to lower them. Customers balked at Jeeps that cost over $100,000, and inventory piled up, which forced Stellantis to sell off 100,000 units at a heavy discount to clear the backlog. There were other bad signs, namely layoffs and idled plants, and Stellantis' US dealers grew furious: Their council blasted the company's 'reckless short-term decision-making' in an open letter last September. Other critics (car-beraters?) piled up, including the United Auto Workers, who threatened to strike. Tavares abruptly resigned in December after several quarters marked by flailing performance. All told, Stellantis reported a 70% drop in net profits in 2024 to $5.7 billion. At the same time, its US sales plummeted 15%, and its US market share, which had declined roughly 3 percentage points over three years to 8%, fell into fifth place behind Honda. The first quarter of this year brought a 14% year-over-year revenue slide and North American shipments falling 20%. Enter Filosa, who will have to tackle all this and a geopolitical headache: Earlier this year, Stellantis pledged to invest more than $5 billion in the US, including the reopening of an Illinois plant, in an effort to court President Trump. But its international footprint, which includes facilities in Mexico and Canada in addition to Europe, means it is among the automakers most exposed to a trade war. Morgan Stanley analysts said earlier this year that Stellantis and Porsche had the highest US exposures, with about 25% of their unit sales potentially impacted, while Fitch estimates that close to 40% of the company's US sales involve vehicles manufactured abroad. Order Up: While Stellantis is undoubtedly facing pressure from tariffs on car imports, which Trump set at 25%, potentially good news arrived Wednesday. A federal court blocked the president's plan to impose 'reciprocal' tariffs on dozens of countries, which could have led to even higher duties. Trump, for example, recently threatened a 50% tariff for the EU, where much of Stellantis' operations are based. The ruling does not, however, impact Trump's auto tariffs, levied using a national security exemption. Moreover, Goldman Sachs chief US political economist Alec Phillips wrote, following the ruling, that the bank expects the administration 'will find other ways to impose tariffs' such as broadening sectoral tariffs under Section 232 or launching Section 301 investigations on US trading partners, paving the way for tariffs to follow. This post first appeared on The Daily Upside. To receive delivering razor sharp analysis and perspective on all things finance, economics, and markets, subscribe to our free The Daily Upside newsletter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Perth Now
6 days ago
- Automotive
- Perth Now
Stellantis names US and quality boss as its new CEO
Stellantis, the parent company of 14 brands including Jeep, Ram, Peugeot, Citroen, Opel/Vauxhall, Fiat, Maserati and Alfa Romeo, has appointed Antonio Filosa, currently the chief operating officer of Stellantis North America and the automaker's global chief quality officer, as its new CEO. Mr Filosa (below) will start in his role as Stellantis CEO on June 23. He will name his executive team closer to that date. 'His track record of successful leadership during his many years with our Company speaks for itself and this, together with his deep knowledge of our business and of the complex dynamics facing our industry, make him the natural choice to become Stellantis' next CEO,' Robert Peugeot, the automaker's vice chairman, said in a prepared statement. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Antonio Filosa Credit: CarExpert Born in Naples in 1973, Mr Filosa started his career in 1999 as a trainee at Fiat. After roles in Europe and the US, he landed in Brazil in 2005, where worked his way up through program management, plant management and head of purchasing to become the head of Fiat Chrysler Latin America in 2018. During his time in South America he launched the Jeep brand there, took Fiat to a 'market leading position', and 'significantly grew' the Peugeot, Citroen, Ram and Jeep brands. When he starts in June, Mr Filosa will have long list of items to deal with. Last year profits at Stellantis dropped 70 per cent on the back of falling sales and a glut of unsold vehicles in the US. There are also persistent quality issues. In mid-2024, then-CEO Carlos Tavares publicly criticised the Sterling Heights plant for building too many Ram 1500 pickup trucks that needed be pulled off the assembly line to be repaired before they could leave the factory. Chrysler Pacifica Credit: CarExpert DS No8 Presidential Credit: CarExpert Lancia Ypsilon Credit: CarExpert Maserati MC20 Credit: CarExpert Another priority for the French-Italian-American automotive conglomerate, the world's fifth-largest automaker, is sorting out what to do with its collection of 14 brands, which under the previous CEO were all given 10 years to prove themselves. Those most at risk include Chrysler, which sells just the Pacifica people mover; Lancia, another one-model brand whose reborn Ypsilon is struggling to gain traction; and DS, the luxury brand spun off from Citroen which continues to struggle to establish itself against incumbent marques. The Chrysler, DS and Citroen brands were retired in Australia in recent years, while Lancia was axed here in 1985. A recent report indicates Stellantis is preparing to sell Maserati, which posted a €260 million loss last year and cancelled its MC20 Folgore electric supercar. Carlos Tavares Credit: CarExpert Stellantis has been without a CEO since Carlos Tavares quit with immediate effect at the beginning of December 2024, reportedly after a disagreement with the board over the company's EV strategy. In 2014 Mr Tavares (above) jumped ship from Renault to become CEO of the PSA Group, the parent company of Peugeot, Citroen and DS, after the French government and Chinese automaker Dongfeng bailed the company out. He helped to turn the company around with a sharp focus on costs and platform sharing. In 2017 he engineered the buy out of Opel and Vauxhall from General Motors. Within a year the beleaguered brands were back in the black after decades of red ink. With his star ascendent his next move proved to be a bridge too far: the 2021 mega-merger of PSA with Fiat Chrysler to form Stellantis. Since the departure of Mr Tavares the company, especially in the US, has been trying to mend relationships with its suppliers and dealers. There are also rumours the company may return the Hemi V8 to the Ram 1500 range – an engine Mr Tavares effectively killed off. MORE: Everything Stellantis
Hindustan Times
27-05-2025
- Automotive
- Hindustan Times
Roads in Indian cities flooded due to heavy rain. Here's some driving tips for flooded roads
As heavy rains sweep across India, they bring much-needed relief from the scorching summer. But for motorists, it also means a serious uptick in waterlogged streets, traffic snarls, and car troubles. With reports of road flooding in parts of Delhi, Mumbai and other major cities, the water can cause major damage to vehicles and pose serious safety risks if an individual isn't prepared for the worst-case scenarios. Taking a few precautions before you drive out during the rains can save you from expensive repairs and potential danger. Remember, when in doubt, park it out. It's always safer to wait than to risk driving through deep water. Here are a few essential tips to protect your car and ensure your own safety while driving in critical situations: Also check these Vehicles Find more Cars Mercedes-Benz AMG E53 Cabriolet 2999.0 cc 2999.0 cc Petrol Petrol ₹ 1.30 Cr Compare View Offers Maserati MC20 3000.0 cc 3000.0 cc Petrol Petrol ₹ 3.69 Cr Compare View Offers BMW X4 2998 cc 2998 cc Petrol Petrol ₹ 96.20 Lakhs Compare View Offers UPCOMING Toyota bZ4X 72.8 kWh 72.8 kWh 405 Km 405 Km ₹ 70 Lakhs Alert Me When Launched UPCOMING Mercedes-Benz GLC Coupe 2024 1950 cc 1950 cc Petrol Petrol ₹ 65 Lakhs Alert Me When Launched UPCOMING Lexus LBX 1498 cc 1498 cc Petrol Petrol ₹ 45 Lakhs Alert Me When Launched Avoid waterlogged roads If you see a stretch of road submerged in water, take a different route, even if it's a longer one. Driving through deep water can lead to engine hydrostatic lock, a costly issue that occurs when water enters the engine. Know your vehicle's wading depth Every car has a limit to how much water it can safely wade through, known as the wading depth. For hatchbacks and sedans, this is usually around 300mm. SUVs can go slightly deeper (up to 500–600mm), but even then, caution is key. Check your car's manual or the manufacturer's website for accurate information. Maintain a steady speed If you absolutely must cross a waterlogged area, do so at a steady, slow pace in first gear, keeping the engine revs up. Avoid sudden acceleration or braking, which can splash water into the engine bay or cause loss of control. Turn off the AC Switching off your AC helps reduce the load on the engine. Also, keep the windows slightly open to prevent fogging and ensure visibility. Avoid cranking a submerged engine If your car stalls in water, do not attempt to restart it immediately. Starting a waterlogged engine can cause permanent internal damage. Instead, call for roadside assistance or a towing service. Use hazard lights and fog lamps Visibility during heavy rain or in low-lying flooded areas can drop drastically. Turn on your fog lamps and hazard lights to make your vehicle more visible to others. Dry your brakes after exiting water After you cross a flooded road, lightly tap the brake pedal while driving slowly. This helps dry the brake pads and restores braking efficiency. Keep tyres properly inflated Under-inflated tyres increase the risk of aquaplaning, where the car loses traction and control on wet surfaces. Make sure your tyres have enough tread depth and correct pressure before heading out. Get monsoon-proof accessories Use rubber floor mats, waterproof car seat covers, and door visors to protect your interiors from muddy water and moisture. A car body cover can protect the exterior if you park in open areas. Service and inspect electrical systems Moisture can cause major issues in the car's electrical systems, especially in older vehicles. Ensure your battery, wiring, fuses, and lights are in top shape. Anti-rust coating for underbody protection is also advisable. Additionally, it is always useful to have a working GPS and an emergency contact app on your mobile device. This helps you find alternative routes and connect to assistance quickly if you get stranded. Stay safe, drive smart and tackle flooded routes responsibly! Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape. First Published Date:
Daily Mirror
02-05-2025
- Automotive
- Daily Mirror
David Beckham's 'favourite' £220,000 supercar is one of only two in the world
David Beckham has a supercar collection to die for but it's one of his bespoke Maserati MC20s that is his pride and joy, with the former England captain's personalised model David Beckham boasts an enviable multi-million-pound car collection, but one vehicle stands out as his absolute "favourite" - a bespoke Maserati MC20 supercar. This stunning machine, tailored specifically for the football legend, comes with a hefty price tag of £220,000. The former Manchester United and England midfielder - who turns 50 today - has not one, but two of these jaw-dropping cars in his possession, with the custom-designed model holding a special place in his heart. Maserati proudly describes the MC20 as "the ultimate super sports car", and a glance at its sleek, contoured bodywork makes it easy to see why. However, it's what lies beneath the surface that truly sets the MC20 apart. A twin-turbocharged 3-litre V6 engine churns out an impressive 620 horsepower, propelling the vehicle to a mind-boggling top speed of 201mph. Acceleration is equally impressive, with the MC20 reaching 0-60mph in a mere three seconds, reports the Express. In a previous conversation with British GQ, David gushed about his beloved MC20, saying: "The MC20 is in Miami. I've got one in London, too. It's a fabulous car." He went on to describe the bespoke design process, revealing: "I did the Fuoriserie programme with Klaus, and went from a car in deep purple to slightly pink, then I went to straight black, with pink trim and pink brake calipers. That's my favourite." David's second MC20, located in London, sports a sleek gunmetal grey finish. He's currently trying to persuade his wife Victoria to take it for a spin, but so far, he's had little success. "The London car is gunmetal grey. I'm trying to get Victoria to drive it at the moment, but I'm not having much luck. It's a bit low, but otherwise it's pretty easy to drive. On a track it's unbelievable." He assured: "The London car is gunmetal grey. I'm trying to get Victoria to drive it at the moment, but I'm not having much luck. It's a bit low, but otherwise it's pretty easy to drive. On a track it's unbelievable." The bespoke MC20 was made possible through Maserati's exclusive Fuoriserie programme, which allowed David to put his own unique spin on the supercar's design. The final product features a cross of glossy and matte surfaces within a black and pink colour scheme throughout. Inside, David has opted for black Alcantara seats with pink stitching. A personalised number plate, 'DBMC20' has also been attached while the words 'For David' also pencilled in. After the car had been put together, David got his first taste on a racetrack in Modena alongside a professional racing driver instructor. However, his first journey on public roads was along the coast from Modena to La Spezia. David confessed the car "gets a lot of attention" with "everyone in awe" of the breathtaking model. But he's over the moon with the design and has previously shared how much he enjoyed building the car from scratch. He added: "When I visited the Maserati factory in Modena I met a guy called Klaus [Busse, design director], amazing guy, he talked me through the whole process, we discussed what would look great and what wouldn't. "Sitting with him for a couple of hours configuring my MC20 was so enjoyable. In fact, I didn't let on to anyone else just how enjoyable it was in case they stuck me back in there for another few hours."
Yahoo
17-04-2025
- Automotive
- Yahoo
Maserati MC20 Sets New Autonomous Speed Record at NASA's Historic Runway
Read the full story on Modern Car Collector A driverless Maserati MC20 supercar has shattered the world speed record for autonomous vehicles, reaching 197.7 mph during a high-speed run at NASA's former space shuttle runway at Kennedy Space Center. The sleek Italian machine, equipped with a 630-horsepower twin-turbocharged V6 engine and guided entirely by artificial intelligence, achieved the feat on March 3 at the Space Florida-managed Launch and Landing Facility — a 15,000-foot-long, ultra-flat strip originally designed for shuttle landings. The achievement marks a significant leap forward in autonomous vehicle development. The MC20 was developed by the Indy Autonomous Challenge (IAC) with autonomous software provided by teams from Politecnico di Milano and Michigan State University. The car utilized GPS, LIDAR, and an onboard robotic control system to navigate the straight-line sprint without human intervention. 'This test demonstrated not only the power of the MC20 platform but also the precision of our AI driver,' said Paul Mitchell, CEO of the IAC. 'We're not just building race cars — we're training future engineers and testing real-world autonomous safety systems that could eventually benefit highway drivers.' The previous autonomous vehicle record, also held by the IAC, was set in 2022 when a Dallara AV-21 reached 192.8 mph on the same runway. The venue's vast width and exceptional flatness — with less than 1% grade variance — make it ideal for such experiments. Used in the past by Tesla, SpaceX, and the Florida Highway Patrol, the site has become a hub for advanced vehicle testing since NASA handed over control to Space Florida in 2015. Maserati's participation signals growing automotive interest in pushing AI driving limits. Chief engineer Davide Danesin noted the data collected during the record-breaking run could aid future development of emergency-handling software for consumer vehicles. As autonomous technology edges closer to mainstream adoption, high-speed benchmarks like this one underscore how far — and how fast — the self-driving future is accelerating. Follow us on Facebook and Twitter
