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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.

2020 Dodge Challenger Drag Pak comes solely with supercharged power

The Dodge Challenger Drag Pak has returned for 2020, five years after the last one arrived, and two years after it began development. And while in many ways it looks like past Drag Paks, there are a number of tweaks that should make this the fastest and most capable factory drag car yet from Mopar. Unlike the last model, only a supercharged 354-cubic-inch (5.8-liter for the imperically challenged) V8 is available. Mopar says it's more powerful than its predecessor, though exact horsepower wasn't given. It did confirm that the previous car was capable of a stunning 1,200 horsepower. The engine is coupled solely to a three-speed automatic transmission with a manual shifter. 2020 Dodge Challenger Drag Pak View 17 Photos Supporting the massive engine are many chassis, suspension and driveline enhancements. The independent rear suspension and axles are gone in favor of a solid axle from Strange and a four-link suspension. The front remains stock except for double-adjustable Bilstein shocks. The engine is mounted to a subframe member that's beneficial both to weight distribution and center of gravity. The car gets high-performance brakes and custom Weld Racing wheels with "DRAGPAK" engraved on them. The interior features a welded-in roll cage certified for quarter-mile times as quick as 7.5 seconds. Helping keep the car planted without increasing drag too much are front and rear spoilers from the road-going Challenger, a new addition compared with the previous car. Every Drag Pak car also comes standard with a wheelie bar and parachute. Dodge will only build 50 of these cars, and they'll only be offered as race cars that aren't legal for the street. The cars will be eligible for competing in sportsman classes in NHRA and NMCA drag racing series. Pricing and availability hasn't been set yet, but will be revealed sometime next year.

Dodge puts kibosh on Challenger ACR rumors

In 2011, after the end of the Gen IV Dodge Viper and its ACR trim, Dodge took a Challenger ACR concept to the SEMA show. In October of last year, trusted FCA-focused outlet Mopar Insiders heard from its sources that something of the kind could finally be in the works, word being the automaker "is quietly working on a surprise to help celebrate the 50th anniversary of the Challenger nameplate." Last week, trusted FCA-focused outlet Allpar got more details from its own source, "Muther," on the specs and aspirations for a Challenger supposedly meant as a last big hurrah before the next generation appears in 2023. Now, we find out the Challenger ACR is a ghost, Autoweek reporting, "According to a spokesperson from Dodge, it's not happening." That brief denial is all the automaker had to say about it. Assuming Dodge isn't hiding anything, we're more surprised at detailed erroneous intel being shared with both MI and Allpar than we are about the track-day seducement Challenger ACR being bogus. A tale about Dodge engineering a Viper-like makeover for its number one muscle car so as to shame the 2020 Ford Mustang Shelby GT500 and Camaro ZL1 around a track would have been compelling enough. But word that Dodge wanted the Challenger ACR to breathe down the dearly departed neck of the Viper ACR around Road America, well, that was a crate of Hemi-powered wild. The implied impertinence of such a target is worrisome enough, and the weight loss goal would have added an extreme dimension to the ACR brand. The Neon ACR and Viper ACR didn't give up more than 100 pounds compared to their standard counterparts. The insiders spoke of the Challenger getting under 4,000 pounds, in part thanks to an optional passenger's seat. The diet would have required losing 400 pounds in a best-case scenario, which would still leave the big coupe 500-plus pounds heavier than a Viper ACR. Back to that impertinence... We'll likely never know what really happened with the Challenger ACR, so we'll stick it in the X-Files drawer between Big Blue and Chinga. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.