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Stellantis ready to kill brands and fix U.S. problems, CEO Tavares says

  MILAN — Stellantis is taking steps to fix weak margins and high inventory at its U.S. operations and will not hesitate to axe underperforming brands in its sprawling portfolio, its chief executive Carlos Tavares said on Thursday. The warning for lossmaking brands is a turnaround for Tavares, who has maintained since Stellantis was created in 2021 from the merger of Italian-American automaker Fiat Chrysler and France's PSA that all of its 14 brands including Maserati, Fiat, Peugeot and Jeep have a future. "If they don't make money, we'll shut them down," Carlos Tavares told reporters after the world's No. 4 automaker delivered worse-than-expected first-half results, sending its shares down as much as 10%. "We cannot afford to have brands that do not make money." The automaker now also considers China's Leapmotor as its 15th brand, after it agreed to a broad cooperation with the group. Stellantis does not release figures for individual brands, except for Maserati which reported an 82 million euro adjusted operating loss in the first half. Some analysts say Maserati could possibly be a target for a sale by Stellantis, while other brands such as Lancia or DS might be at risk of being scrapped given their marginal contribution to the group's overall sales. Stellantis' Milan-listed shares were down as much as 12.5% on Thursday, hitting their lowest since August 2023. That brings the loss for the year so far to 22%, making them the worst performer among the major European automakers. Few automotive brands have been killed off since General Motors ditched the unprofitable Saturn and Pontiac during a U.S. government-led bankruptcy in the global financial crisis in 2008. Tavares is under pressure to revive flagging margins and sales and cut inventory in the United States as Stellantis bets on the launch of 20 new models this year which it hopes will boost profitability. Recent poor results from global carmakers have heightened worries about a weakening outlook for sales across major markets such as the U.S., whilst they also juggle an expensive transition to electric vehicles and growing competition from cheaper Chinese rivals. Japan's Nissan Motor saw first-quarter profit almost completely wiped out on Thursday and slashed its annual outlook, as deep discounting in the United States shredded its margins. Tavares said he would be working through the summer with his U.S. team on how to improve performance and cut inventory.

Alfa Romeo Stelvio CUV to debut at 2016 LA Auto Show

America loves crossovers. Alfa Romeo wants to succeed in America. So it only makes sense that the troubled Italian automaker will introduce its first ever CUV on American soil. That's per a report from Australia's Motoring, which claims we'll clap eyes on the Stelvio for the first time this November in Los Angeles. The news was announced by Alfa Romeo and Maserati boss Harald Wester, who said it'd be a late fall debut, according to Motoring. That almost certainly means the mid-November to-do in LA. "We will have an additional product in the [CUV] segment with the new Alfa, to be presented in late Autumn this year, and for the time being there are no plans for Maserati to further extend our range downwards in the more compact SUV segment," Wester told Motoring. The Stelvio – the name was confirmed by FCA boss Sergio Marchionne last month and comes from the iconic Italian pass and the snaking road attached to it – will be based on the Giulia's rear-wheel-drive platform, and will be offered in both two- and four-wheel drive versions. Like the Giulia, there will be both four- and six-cylinder options, which according to the Aussies will include a high-performance Quadrifoglio Verde model. Related Video:

2019 Alfa Romeo Giulia Quadrifoglio Review | As good as you imagine

When you affix words to a car such as “Alfa Romeo,” “Quadrifoglio,” “twin-turbo,” and “Ferrari-derived,” youÂ’re setting up some pretty serious expectations. Add to that a price tag thatÂ’s near the top of its segment, as with our 2019 Alfa Romeo Giulia Quadrifoglio, and those expectations creep ever higher to a point that seems hard to fulfill. But IÂ’m happy to report the Giulia passes with flying tricolores. ItÂ’s intensely fast, incredibly nimble, and surprisingly playful and approachable. ItÂ’s one of the most fun supersedans. Of course, the headline feature of the Giulia Quadrifoglio is that twin-turbo V6 based on a Ferrari engine, and it certainly deserves the hype. It generates a massive 505 horsepower and 443 pound-feet of torque. ThatÂ’s more power (though less torque) than the mighty Mercedes-AMG C 63 SÂ’s V8. Power comes on smoothly and only grows stronger with revs until the limiter kicks in. Lag is practically non-existent, and the exhaust note, though a bit blatty inside, generates a low, gritty howl outside thatÂ’s fitting for a slinky Italian sedan. The only thing preventing the powertrain from being the unquestionable class champion is the transmission. This is strange, since itÂ’s the vaunted ZF eight-speed automatic, but it shifts slowly for such a sporty car. At least itÂ’s smooth, and the huge metal shift paddles are a delight. As for the GiuliaÂ’s chassis, itÂ’s marvelous with no caveats. What stands out is its playful demeanor. It keeps you informed of every move it makes, even throwing in a bit of Miata-like body roll. The steering isnÂ’t quite as talkative, but is more so than many of its competitors, especially BMW, and itÂ’s lightning-quick and weighted well. To cap it off, the car is highly stable, even on rough pavement, and the wide tires offer tremendous grip. The ride can occasionally be bumpy, but never harsh. ItÂ’s well-balanced. At this point it's also worth noting that the character of the Giulia can be altered substantially with the drive mode selector. The settings are "Race," "D," "N" and "A," with the latter standing for "Dynamic," "Normal" and "Advanced Efficiency." Race and Dynamic are the sportiest with the quickest throttle response, loud exhaust, and more lenient traction settings, and they set the suspension to the firm setting by default. But the suspension can be switched back to the normal setting by pressing the shock absorber button.