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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.

Jeep Cherokee won't get diesel until sales of oil-burning Grand Cherokee improve

Okay Jeep fans, you want more diesel options? Time to step up and prove it. The only way Jeep will offer a diesel powerplant in the Cherokee, according to brand head Mike Manley, is if sales of the Grand Cherokee EcoDiesel nearly double.
Currently, about eight percent of the Grand Cherokees sold feature the 3.0-liter, EcoDiesel V6. That's simply not enough to warrant the bringing an oil-burning Cherokee to the US market, despite the vehicle's presence in Europe, where it's sold with a 2.8-liter diesel V6.
"Cherokee is slightly different because of its weight and size. When I think about bringing Cherokee diesel here, I would like to see Grand Cherokee diesel get much higher than eight percent," Manley told Automotive News. "It would have to be in mid-double digits."

2018 Jeep Wrangler to get full-time four-wheel-drive option

It appears the next-generation Wrangler will take another small step to modernization and civility. JL Wrangler Forums reports that the new Wrangler is showing up on dealer computers along with a variety of options. One of them is the inclusion of a full-time four-wheel-drive system called Selec-Trac. This means that it will be possible to simply leave the Wrangler in four-wheel drive all the time, without worrying about damaging it when pavement is dry, much like the all-wheel-drive systems on most modern crossovers. This might concern Wrangler purists, but there are a couple of reasons not to fret. For one, although Jeep doesn't have a Selec-Trac system on the market to compare to right now, the old Selec-Trac system offered on the Jeep Liberty had a low-range for off-roading, so this one probably will, too. For another, only one kind of Wrangler will offer this feature, according to JL Wrangler Forums. The Selec-Trac system will only be available on the four-door Wrangler Unlimited Sahara, the version that's arguably the most luxurious, and the body-style with the longest wheelbase. All the others will only have the classic selectable four-wheel drive. There is another interesting feature noted in the JL Wrangler Forums collection of information. Apparently the four-cylinder engine will have a combination starter and generator driven by a belt. This is interesting, because the only other car we've seen with such a component is the new Audi A8. In that application, the belt-driven starter and generator is used for smoother, faster starting and stopping to save fuel. We would guess the Jeep's system works in a similar way, though likely without the support of a 48-volt electrical system. We will likely know more when the new Wrangler makes its debut, which is expected at the L.A. auto show this year. Related Video: Featured Gallery 2018 Jeep Wrangler Spy Shots Related Gallery 2018 Jeep Wrangler Hood Spy Shots News Source: JL Wrangler ForumsImage Credit: KGP Photography Jeep SUV