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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.

2019 Jeep Cherokee revealed | All-new engine, refreshing new face

When the Jeep Cherokee made a return in late 2013 as a replacement for the boxy Jeep Liberty, reactions were mixed on the crossover's styling. Sure, all the Jeep hallmarks were there — seven-slot grille, squared fenders, etc. — but something seemed different, especially with that face. Well, the course has been corrected and at this week's Detroit Auto Show, the 2019 Jeep Cherokee shows off its much more conventional and conservative styling. This is just a mid-cycle refresh, so it doesn't look all that much different than the current KL Cherokee. Jeep ditched the split lighting on the current model, pushing the driving lights and headlights back together and in a much more traditional position. Unsurprisingly, its very similar to what you'll find on the current Jeep Grand Cherokee and Jeep Compass. In addition to the new LED headlamps, the driving lights and fog lamps get a new design. The rear end, too, gets a heavy redesign. The taillamps now have LED accents, though the overall shape is generally the same. A new tailgate now houses the license plate, making the Cherokee look less bottom heavy. Along the bottom, Overland models get chrome tow hooks while Trailhawk models get the now recognizable bright red hooks. The Trailhawk also gets a resculpted front bumper for a better approach angle on the trails. Other Trailhawk goodies include skid plates, bigger fender flares, an increased ride height and 17-inch wheels with off-road tires. There are five new wheel offerings in total, including a 19-inch design for the Overland trim. In contrast to the outside, the Cherokee's interior carries over nearly unchanged. From behind the wheel, you'd be hard pressed to spot a difference between the old and new. There are some new piano-black trim pieces around the infotainment screen and matte silver trim around the air vents and steering wheel. The center console does get a slight redesign, moving the USB port and 115-volt outlet rearward to create a bit more storage space. The biggest change is in the cargo area where three extra inches of width give the Cherokee 27 cubic feet of cargo space. Underneath the hood, you'll find one of three powertrains, including a new 2.0-liter turbocharged inline-four. That engine joins the 271 horsepower 3.2-liter Pentastar V6 and the 180 horsepower 2.4-liter Tigershark inline-four. All three engines are paired with a refreshed nine-speed automatic sending power to either the front or all-four wheels.

2019 Jeep Cherokee revealed with new, more conservative look

Just as it did with the new Wrangler, Jeep is showing off images of a new product before its debut. In this case it's the 2019 Jeep Cherokee. Jeep hasn't released all the details on it, but we can see a number of exterior changes from the official images. The biggest change is one we've been expecting: the merging of the current Cherokee's split headlights into single units on each side. The result is a more conventional nose that has a closer familial resemblance to other Jeeps such as the Compass and Grand Cherokee. The rest of the front bumper and grille also look a bit softer and rounder, but there's still a hint of the wedge-y pointy look of the previous generation that helps keep the crossover immediately identifiable as a Cherokee. The other major change is at the rear. The big slab of a rear hatch is broken up now with the license plate mounting position, which makes the tail look much less bulky. Naturally the bumper was also redesigned with a faux skid plate to fill up the space left by the license plate. As for the middle of the crossover and the interior, there are no noticeable changes. Jeep hasn't revealed anything other than these images, so we'll have to wait until the full debut in January to find out about any mechanical changes. Jeep's press release does hint at more efficient powertrain options, so there could be some updates to the transmissions or engines. Related Video: Featured Gallery 2019 Jeep Cherokee Image Credit: Jeep Detroit Auto Show Jeep Crossover SUV