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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.

Ferrari believes F1 title is still possible

Ferrari believes the changing shape of the Formula 1 championship battle, with points leader Nico Rosberg hitting a difficult patch, means its own title hopes are far from over. Despite more frustrations at the Monaco Grand Prix, where a poor qualifying showing left its drivers unable to fight for the win, both Sebastian Vettel and Kimi Raikkonen remain within striking distance of the leading Mercedes driver. Raikkonen is 45 points behind Rosberg - and only five behind Daniel Ricciardo - while Vettel is just one point further back. With the title momentum appearing to have shifted in recent weeks as Rosberg's winning streak has come to an end, team boss Maurizio Arrivabene believes the story of the championship this year has yet to be settled, as he predicted some 'interesting' times ahead. When asked if he feared the title was slipping away, he said: "No way. You saw Ricciardo here was quite good, and Hamilton is coming back. "So what we have to do is to keep our concentration, to keep focus, concentrate and look forward. This championship is going to be quite interesting I think." Qualifying frustration Arrivabene thinks that key to Ferrari's campaign going forward is in getting to the bottom of what is going wrong with qualifying, as again the team was slower in Q3 than in Q1. "I don't want to find any excuses, but we were not good enough in Barcelona in Q3 and it has happened also here - and we paid the price during the race," added Arrivabene. "It was a heavy price to pay, but I take the lesson that we need to really understand where the problem is. "If you compare Q1, it was more or less similar. Here in Q1 we were 1m14.1s and were slower in Q3. So there is the problem that we have to look for."Related Video: This article by Jonathan Noble originally appeared on Motorsport.com. Image Credit: Motorsport.com Motorsports Ferrari F1 motorsport.com

Logic3 classes up headphones with Prancing Horse

White earphones too bland for you? Black too slow? Your otherwise high-end cans just not expensive enough? Logic3 hopes to remedy your plight with its new line of Ferrari-branded earphones and headphones.
Logic3's Cavallino line is intended for the well-heeled audio enthusiast with aluminum housings covered in hand-stitched, lambskin leather. The Scuderia collection is also built with aluminum but instead of leather, the earphones' colors closely match those of the Ferrari F1 team. Yellow badges and aluminum grilles complete the look.
Both lines also include over-the-ear headphones and Bluetooth compatible dock station speakers. The Scuderia line headphones mimic the look of hearing protection worn by F1 pit crews.