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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.

2018 Jeep Wrangler revealed: First photos released before L.A. Auto Show debut

All the guessing and speculation on the look of the 2018 Jeep Wrangler can finally end. Jeep has released a trio of photos showing off the new off-roader in both two- and four-door configurations. Sadly, this is all we get to see at the moment, as the company won't be releasing any more photos or info until the truck's official debut at the Los Angeles auto show Nov. 29. But Wrangler fans can rest easy about a number of key features. For one thing, there isn't a single aspect of open air motoring left out of the new truck. As one of the images clearly shows, the doors come off, the top comes off, and the windshield still folds down. Other interesting notes include that the gas filler is hidden behind a door now. The hood still has the traditional external clips. Interestingly, the roll bar doesn't reach as close to the edge of the body as it has in past Wranglers. It will be interesting to learn the reason for this. It could have something to do with safety, or perhaps it helps accommodate thicker, quieter hardtops and/or a more elegantly lowered soft top. There are no engine, transmission, or other specifications yet. Those will all come at the aforementioned reveal in LA. However, we expect it to be initially offered with a V6 with either manual or automatic transmissions, followed by a turbocharged four-cylinder with just an automatic. Related Video: Featured Gallery 2018 Jeep Wrangler Image Credit: Jeep LA Auto Show Jeep SUV Off-Road Vehicles

Jeep previews Easter Jeep Safari concepts, and one is called Jeepster

Easter is coming up, which is a big deal for both Christians and Jeep fans. The latter of which are excited because the annual Easter Jeep Safari off-road event in Moab is coming, along with Jeep's wild concepts it builds for the event each year. We're getting an sneak peek at two of those Jeeps early, thanks to illustrations the company revealed. The first of them is very obviously a two-door 2018 Wrangler, but with some small changes, and the inspiration is obvious when spotting the badge on the front fender: "Jeepster." This concept pulls from the old Jeepster Commando from the '60s and '70s, a slightly longer Jeep that was a bit more civilized and had an available hardtop that had a distinct slant at the back. The slanted rear roof is very clear on this Wrangler's hardtop, and it has the contrasting color that its inspiration had, too. This Wrangler Jeepster is more off-road ready, though, with big chunky tires, a full-size spare moved inside, and gas cans mounted to the rear cargo door. It's more difficult to tell what sets apart the second Jeep Safari concept. It's obviously based on the 2018 Wrangler. The front fenders have been severely cut down and the front bumper removed to make room for what appear to be enormous tires and lots of suspension travel. It also bears a big hood scoop, maybe indicating a more powerful engine underneath. It also has full front doors, but the rear top has either been removed or lowered. We'll have more details on these and other Jeep Safari concepts in the next couple of weeks around the time of the event. So stay tuned for more wild Jeep news. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.