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Stellantis ready to kill brands and fix U.S. problems, CEO Tavares says

Thu, Jul 25 2024

  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.

Best car infotainment systems: From UConnect to MBUX, these are our favorites

Sun, Jan 7 2024

Declaring one infotainment system the best over any other is an inherently subjective matter. You can look at quantitative testing for things like input response time and various screen load times, but ask a room full of people that have tried all car infotainment systems what their favorite is, and you’re likely to get a lot of different responses. For the most part, the various infotainment systems available all share a similar purpose. They aim to help the driver get where they're going with navigation, play their favorite tunes via all sorts of media playback options and allow folks to stay connected with others via phone connectivity. Of course, most go way beyond the basics these days and offer features like streaming services, in-car performance data and much more. Unique features are aplenty when you start diving through menus, but how they go about their most important tasks vary widely. Some of our editors prefer systems that are exclusively touch-based and chock full of boundary-pushing features. Others may prefer a back-to-basics non-touch system that is navigable via a scroll wheel. You can compare it to the phone operating system wars. Just like some prefer Android phones over iPhones, we all have our own opinions for what makes up the best infotainment interface. All that said, our combined experience tells us that a number of infotainment systems are at least better than the rest. WeÂ’ve narrowed it down to five total systems in their own subcategories that stand out to us. Read on below to see our picks, and feel free to make your own arguments in the comments. Best infotainment overall: UConnect 5, various Stellantis products Ram 1500 Uconnect Infotainment System Review If thereÂ’s one infotainment system that all of us agree is excellent, itÂ’s UConnect. It has numerous qualities that make it great, but above all else, UConnect is simple and straightforward to use. Ease of operation is one of the most (if not the single most) vital parts of any infotainment system interface. If youÂ’re expected to be able to tap away on a touchscreen while driving and still pay attention to the road, a complex infotainment system is going to remove your attention from the number one task at hand: driving. UConnect uses a simple interface that puts all of your key functions in a clearly-represented row on the bottom of the screen. Tap any of them, and it instantly pulls up that menu.

Drive like a prince: Join us for a walk through Monaco's car collection

Fri, Dec 29 2023

Small, crowded, and a royal pain in the trunk lid to drive into during rush hour, Monaco sounds like an improbable location for a huge car museum. And yet, this tiny city-state has been closely linked to car culture for over a century. It hosts two major racing events every year, many of its residents would qualify for a frequent shopper card if Rolls-Royce issued one, and Prince Rainier III began assembling a collection of cars in the late 1950s. He opened his collection to the public in 1993 and the museum quickly turned into a popular tourist attraction. The collection continued to grow after his death in April 2005; it moved to a new facility located right on Hercules Port in July 2022. Monaco being Monaco, you'd expect to walk into a room full of the latest, shiniest, and most powerful supercars ever to shred a tire. That's not the case: while there is no shortage of high-horsepower machines, the first cars you see after paying ˆ10 (approximately $11) to get in are pre-war models. In that era, the template for the car as we know it in 2023 hadn't been created, so an eclectic assortment of expensive and dauntingly experimental machines roamed whatever roads were available to them. One is the Leyat Helica, which was built in France in 1921 with a 1.2-liter air-cooled flat-twin sourced from the world of aviation. Fittingly, the two-cylinder spun a massive, plane-like propeller. Government vehicles get a special spot in the museum. They range from a Cadillac Series 6700 with an amusing blend of period-correct French-market yellow headlights and massive fins to a 2011 Lexus LS 600h with a custom-made transparent roof panel that was built by Belgian coachbuilder Carat Duchatelet for Prince Albert II's wedding. Here's where it all gets a little weird: you've got a 1952 Austin FX3, a Ghia-bodied 1959 Fiat 500 Jolly, a 1960 BMW Isetta, and a 1971 Lotus Seven. That has to be someone's idea of a perfect four-car garage.  One of the most significant cars in the collection lurks in the far corner of the main hall, which is located a level below the entrance. At first glance, it's a kitted-out Renault 4CV with auxiliary lights, a racing number on the front end, and a period-correct registration number issued in the Bouches-du-Rhone department of France. It doesn't look all that different than the later, unmodified 4CV parked right next to it. Here's what's special about it: this is one of the small handful of Type 1063 models built by Renault for competition.

Stellantis earnings rise along with EV sales

Wed, Feb 22 2023

AMSTERDAM — Automaker Stellantis on Wednesday reported its earnings grew in 2022 from a year earlier and said its push into electric vehicles led to a jump in sales even as it faces growing competition from an industrywide shift to more climate-friendly offerings. Stellantis, formed in 2021 from the merger of Fiat Chrysler and FranceÂ’s PSA Peugeot, said net revenue of 179.6 billion euros ($191 billion) was up 18% from 2021, citing strong pricing and its mix of vehicles. It reported net profit of 16.8 billion euros, up 26% from 2021. Stellantis plans to convert all of its European sales and half of its U.S. sales to battery-electric vehicles by 2030. It said the strategy led to a 41% increase in battery EV sales in 2022, to 288,000 vehicles, compared with the year earlier. The company has “demonstrated the effectiveness of our electrification strategy in Europe,” CEO Carlos Tavares said in a statement. “We now have the technology, the products, the raw materials and the full battery ecosystem to lead that same transformative journey in North America, starting with our first fully electric Ram vehicles from 2023 and Jeep from 2024.” The automaker is competing in an increasingly crowded field for a share of the electric vehicle market. Companies are scrambling to roll out environmentally friendly models as they look to hit goals of cutting climate-changing emissions, driven by government pressure. The transformation has gotten a boost from a U.S. law that is rolling out big subsidies for clean technology like EVs but has European governments calling out the harm that they say the funding poses to homegrown industry across the Atlantic. Stellantis' Jeep brand will start selling two fully electric SUVs in North America and another one in Europe over the next two years. It says its Ram brand will roll out an electric pickup truck this year, joining a rush of EV competitors looking to claim a piece of the full-size truck market. The company plans to bring 25 battery-electric models to the U.S. by 2030. As part of that push, it has said it would build two EV battery factories in North America. A $2.5 billion joint venture with Samsung will bring one of those facilities to Indiana, which is expected to employ up to 1,400 workers. The other factory will be in Windsor, Ontario, a collaboration with South KoreaÂ’s LG Energy Solution that aims to create about 2,500 jobs. The EV push comes amid a slowdown in U.S.

Stellantis announces ‘Circular Economy’ business to drive revenue, decarbonization

Tue, Oct 11 2022

Stellantis has already announced its plans to reach net-zero carbon emissions by 2038. Today, the automaker has announced a new business unit to help it reach that goal while generating 2 billion euros per year in revenue by 2030. The “Circular Economy” business will help make revenue less dependent on finite, rare and ecologically problematic materials. The Circular Economy model features what Stellantis calls a “4R” strategy, comprising remanufacturing, repair, reuse and recycling. The goal is to make materials last as long as they can, reducing reliance on the acquisition of those precious new materials in the future by returning them to the business loop when theyÂ’ve reached the end of their first life. Through these processes, Stellantis says it can save up to 80% raw material and 50% energy compared to manufacturing a new part. Remanufacturing, or “reman” in Stellantis shorthand, means dismantling, cleaning and rebuilding parts to OEM spec. Nearly 12,000 remanufactured parts are available for customers to purchase. Some remanufacturing is done in-house, and some with partners and through joint ventures. Repair is pretty obvious — fixing parts to put back into vehicles. This also consists of reconditioning, to make a vehicle feel like new. Stellantis boasts 21 “e-repair” centers for repairing electric vehicle batteries.  Reuse refers to parts still in good condition from end-of-life vehicles sold as-is. Stellantis says it has 4.5 million multi-brand parts in inventory. These are sold in 155 countries through the B-Parts e-commerce platform. Reuse also refers second-life options, such as using batteries outside of automotive purposes. Recycling involves dismantling parts and scraps back into raw material form that is then looped back into the manufacturing process. Stellantis says it has collected 1 million parts for recycling in the past six months. Recycling doesnÂ’t get counted in that aforementioned 2 billion euros of revenue, but it does save the company money on acquisition of raw materials. As for batteries, specifically, Stellantis expects this recycling business to ramp up after 2030, when the packs currently in service begin to reach the end of their lifecycle. Stellantis will use its new “SUSTAINera” label to denote parts that are offered as part of its Circular Economy business.

Maserati GranTurismo Folgore design and key specifications revealed

Sun, Sep 4 2022

The next-generation Maserati GranTurismo will spawn an electric, Folgore-badged variant with over 1,200 horsepower. While the coupe hasn't been fully unveiled yet, the Italian company published a video that shows it without camouflage and reveals key specifications. Shot on California's picturesque roads, the five-minute film provides a better look at the second-generation GranTurismo's shapely design. It's characterized by a long hood, a fastback-like roof line, and a relatively short trunk, while its front end borrows a handful of styling cues inaugurated by the MC20 and also seen on the Grecale. The model is instantly recognizable as a member of the Maserati portfolio. We already know that the first series-produced electric Maserati will ship with a three-motor drivetrain rated at about 1,200 horsepower. Design boss Klaus Busse (who is behind the wheel in the video) announced that the GranTurismo Folgore takes 2.6 seconds to reach 60 mph from a stop and reaches a top speed of over 200 mph. He added that the battery pack is housed in the transmission tunnel, a solution which allowed his team to give the car a relatively low profile, but details such as the unit's size and the driving range remain under wraps. Not interested in EVs? Maserati has you covered: it will position the Folgore at the top of the GranTurismo range but it will also offer at least one V6-powered version of the car. We're guessing that the engine will be related to the excellent 3.0-liter Nettuno V6 that powers the MC20. Maserati will release more details about the GranTurismo Folgore in the coming months, and the coupe's unveiling is scheduled for 2023. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Green Maserati Coupe Electric Luxury Performance

Maserati GranTurismo Folgore teases itself around Monterrey

Mon, Aug 22 2022

Maserati began teasing the GranTurismo Folgore toward the end of Car Week on Twitter and Instagram with a caption that read, "A rose gold wrap suited to the Golden Coast. Impossible to keep it secret. We’re touring California with the new GranTurismo Folgore and an audacious Italian-American entertainer. The air is electric. Keep following us down this road." Maserati seems to have meant the line about not keeping secrets more literally than one would expect, because it nonchalantly parked an uncamouflaged car in the same rose gold wrap at a charging station on the Monterey peninsula before the teases began. It had been thought that the automaker might debut the coupe over the weekend, which could have happened. Autocar says the Italians hosted a private preview for potential customers — that, apparently, was the secret.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Maserati teased a different prototype draped in a blue wrap earlier this year before the Formula E grand prix in Rome. This version, with its Homeric rosy hue and quasi-three-spoke wheels is what we've been waiting for. We like what we see. Yes, it's highly reminiscent of the GranTurismo that went off the market in 2019. Why should that bother us? That coupe is still beautiful. From what we can tell of the Folgore, the updated lines should make the coming EV even more so. Guests at that putative private event might know what powers the 2+2, but we don't. We know the battery-electric Grecale crossover will get an EV powertrain with 590 horsepower, the much more expensive GranTurismo should handily outdo that even if it doesn't touch the 1,200-hp figure some believe possible. We expect to get that info when the official debut happens in the coming months. The official GranTurismo Folgore launch is scheduled for next year, probably joined sometime in the year by its droptop sibling, the GranCabrio Folgore. It's thought there will be an ICE-powered version for the two-door as well, maybe offering the choice of an unaided 3.0-liter Nettuno V6 or a hybrid centered around the V6 or a 2.0-liter four-cylinder. Certain markets sell the Ghibli sedan with a 2.0-liter hybrid; however, that option is viewed as a long shot for the new GranTurismo.  Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Maserati Ghibli dies by 2024, replaced by smaller Quattroporte EV

Fri, Aug 12 2022

In March, when Maserati divulged some of its electrification plans, the automaker's head of product planning said: "We strongly believe that there is a future for the sedan, but probably not for two sedans. One will be enough to meet demand." The company made it clear which of its two sedans would get the nod by letting the world know that the next-gen Quattroporte sedan and Levante crossover would get electric powertrains only. We have a timeline for the demise of the smaller four-door, Maserati's Australian general manager Grant Barling telling Australian news outlet Drive that "The Ghibli will move into run-out phase into 2024." Assuming international markets are on the same timeline, that gives Ghibli intenders two years to stump up the cash for the mid-size Italian thoroughbred. What's good for the Ghibli, but bad for enthusiasts, is that the BMW 5 Series competitor won't cross the Styx alone — it's taking the Ferrari-sourced F154 twin-turbo 3.8-liter V8 with it. In Ghibli Trofeo trim, that engine produces 580 horsepower, 538 pound-feet of torque, and an engine note that will let every creature in the underworld know, "I'm coming."  And yet the Ghibli isn't going away completely. Barling said, "The plan is for the Ghibli and Quattroporte to become one. So the Quattroporte will become a short-wheelbase [model] – Ghibli-sized, but called a Quattroporte." Seems Maserati likes the Ghibli sales volumes but Quattroporte brand recognition. The Ghibli made up 33% of Maserati's global sales last year while the Quattroporte only accounted for 7%. The former nameplate returned in 2013 as a four-door sedan after being a 2+2 grand tourer hardtop and convertible as well as a four-seat coupe, while the Quattroporte has been on sale as a luxury sedan continuously through six generations since 1963.  If there's an ICE engine to keep the Maserati sound alive, it will be the twin-turbo 3.0-liter Nettuno V6 launched with the MC20. The Folgore electric trims will be responsible for the other side of Maserati sound, starting with the GranTurismo Folgore debuting next year with three motors and around 1,200 horespower.   Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Maserati Grecale walkaround

Maserati offers Extra10 limited powertrain warranty on all new vehicles

Sun, Aug 7 2022

Maserati is still trying to get its sales forecasts to match its sales results. A raft of new product should keep the Italians on the list of vehicles to compare when shopping for luxury performance, but reliability concerns continue to cast shadows. With the Grecale on the way, Maserati will likely begin luring buyers focused a lot more on reliability than the usual Quattroporte owner. To address potential mechanical doubts, Maserati's offering a new Extra10 Warranty Program around the world on every new model to allay some fears. The 10-year limited powertrain warranty covers the engine and transmission or transaxle. The good news is that not only will it be available to North and South American buyers from October 1, 2022, certain current owners whose Maseratis are no more than 9.5 years old will be eligible, and the warranty doesn't cap mileage.  It won't be free, but few such warranties are. It's offered as an add-on to Maserati's extended warranty offerings, which can cover a powertrain for up to seven years and unlimited miles so long as extensions are purchased within the warranty and mileage periods. The present plans already include benefits like roadside assistance and help with onward travel. Extra10 throws in other sweeteners like pick-up and return service and a courtesy car. The automaker has made Extra10 transferrable, too, "aimed at consolidating the value of its cars over time, guaranteeing total peace of mind by combining top performance and the driving pleasure typical of every Trident car." Finally, Maserati says "Customers have the option of purchasing extended powertrain coverage in one-year increments (e.g., 5th year to 10th year of ownership)," so there's no large lump sum necessary.  Once October hits, interested owners should visit their Maserati dealers to see if their vehicles are eligible. The program excludes cars that have been raced "or tampered with," cars that have been in major accidents, and cars that are stolen. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Maserati MC20 GT2 returns the Trident to GT racing in 2023

Wed, Jul 27 2022

Seems we got ahead of Maserati, but now we're on the same page with the Italian carmaker. We wrote about the Maserati Project24 earlier this week, a limited-edition track car not built to race a specific series, instead chasing Maserati's own performance targets. We wondered whether the Project24 was a pivot from the rumored GT3 program planned for the MC20 years ago. Turns out the Project24 is an offshoot of the GT2 program for the MC20, the Italians in Modena announcing they've developed an MC20 GT2 to compete in the Fanatec GT2 European Series Championship next year. The base tech specs listed so far for the MC20 GT2 are the same as the Project24. The twin-turbo Nettuno V6 shifts through a six-speed sequential auto with paddle shifters, sending power to the rear wheels through a mechanical limited slip differential. Brembo CCMR racing brakes hang off a double wishbone suspension with anti-roll bars front and rear and adjustable dampers, just behind custom, forged 18-spoke center lock wheels on racing slicks that can be changed easily thanks to on-board air jacks. A single seat in the cabin is accessorized with an adjustable, multifunction carbon fiber steering wheel, an adjustable pedal box, and air conditioning. Safety features include an FIA fuel tank, rain light, roll cage, six-point harness, and fire extinguisher.  The differences that we know of include output, curb weight, and the aero package. Series organizer SRO says GT2 is "formulated to bring gentlemen drivers back to the front of the stage ... whilst being fast and spectacular enough to secure the values of SRO-promoted championships, should the current GT3 category become too expensive for too many of our teams and drivers." GT2 regulations cap output at around 630 hp, just nine more than the standard MC20 throws down — and 110 hp less than the Project24. The series' Balance of Performance rules will ultimately determine race weight and output. The regulations also draw limits around aero devices that Maserati Stile didn't need to heed on the Project24. The aero bit is especially important here because GT2 cars are more powerful than GT3 entries but designed to be less reliant on aerodynamics than GT3 cars, making GT2 versions easier for amateurs to drive at the limit.  This is Maserati's first dip back into GT racing above the GT4 class since the MC12 GT1 that snagged close to 100 wins between 2004 and 2010. The race division will sell cars to individuals and race teams.