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A presumably stolen Lancia Ypsilon prototype is pulled from a canal in France

Lancia is a long way from its heyday. The Italian automaker’s time in motorsport is far behind it, and its business efforts have been reduced to a single model sold only in Italy. ThatÂ’s changing, at least according to company officials, as the automaker is gearing up to release a few new vehicles in the coming years, starting with an updated electric Ypsilon. Though itÂ’s not due to be revealed for a few more months, a Ypsilon prototype recently made news after it was presumably stolen and crashed into a river in France. ? FUITE ! Voici la future Lancia Ypsilon dans des conditions tres particulieres. ?? Ce prototype sans camouflage a ete repeche a Montbeliard, non loin de lÂ’usine Stellantis, et selon lÂ’Est Republicain, il sÂ’agirait dÂ’un vol. Cependant, rien nÂ’a ete confirme.#Lancia #Ypsilon pic.twitter.com/mxNmIWJ9hL — Le Rendez-Vous AutoÂ’ (@lerdvauto) December 12, 2023 Officials havenÂ’t handed out many details but said that firefighters arrived on the scene to find the white hatchback submerged in a canal near Rue du Port, near the local Stellantis factory. No victims or other wreckage was found, and the team lifted the car out of the canal by crane. While a presumably stolen prototype is interesting on its own, the secondary story here is that this is likely the best look anyone outside of Lancia has had at the new car. Every image seen to date has been of a heavily camouflaged car with hard-to-discern lines and details. We can see the rear door handles in the C-pillar and unique design elements that set it apart from the Opel Corsa upon which it is based. Though Lancia likely wishes firefighters had been more discreet in pulling the car out of the water, the automaker has an exciting few years ahead of it. After the new Ypsilon, Lancia said it would deliver a compact SUV in 2026, followed by another hatchback in 2028. It has also expressed plans to expand outside of its home market, Italy, to other European countries. The automaker may also expand to other continents, but itÂ’s unlikely Americans will see a Lancia on our streets anytime soon.

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.

Bonhams auction at Quail Lodge led by 1959 Ferrari 250 GT Competizione

It doesn't take too much knowledge of the classic car market to figure out that, when it comes to values, Ferrari leads the pack. Bonhams 2015 Quail Lodge Auction did absolutely nothing to buck that trend with four of the five top sellers bearing the Prancing Horse. While none came near the auction house's sale of a 1962 Ferrari 250 GTO for $38.115 million last year, there were still beauties in the bunch. The leader among these thoroughbreds was a 1959 Ferrari 250 GT Competizione Alloy Berlinetta (pictured above) that went for $8.525 million, including the buyer's premium. It was one of just seven vehicles made to this specification and raced extensively when new, scoring a win in competition at Watkins Glen. A classic 1971 Ferrari 365 GTS/4 Daytona Spider brought $2.64 million, and a somewhat more modern 1985 288 GTO had the hammer drop at $2.365 million. The final Prancing Horse in the top five was a 1951 212 Inter Cabriolet with a body by Vignale for $2.2 million. It scored second-in-class at the 2014 Pebble Beach Concours d'Elegance. Overturning the Ferrari trend, a 1955 Lancia Aurelia B24S Spider America rounded out the top five with a sale price of $1,952,500. While these are the most expensive vehicles to cross the block, you can check Bonhams' website for the results on all 111 lots. It's a wonderful array of largely European sports cars that are all in top shape.