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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.

Maserati calling in new Quattroporte for electrical issue

Exotic automobiles are just that: exotic. As in, rare. While Maserati is trying is darnedest to emerge from the fringes, its products are still less common than competitors from Germany, Japan or even the UK. Which is probably - more so than any superior quality or safety standards - why we rarely see the Trident marque's products the subject of a recall. Although it does happen upon occasion.
Back in the spring, Maserati had to call in over seven thousand examples of the Quattroporte, GranTurismo and Alfa 8C over rust issues. Now that the new Quattroporte is upon us, the Modenese automaker has apparently run into another small problem.
This time the issue revolves around the wiring harness for the alternator/starter motor, an improper crimp in which could cause the battery cable to short and start a fire. As a result, the National Highway Traffic Safety Administration is prompting 63 owners of the 2014 Quattroporte GTS V8 to bring their cars in to their local Maserati dealer to have the wiring harness replaced.

2024 Maserati GranTurismo reveals its evolutionary, still-sybaritic interior

After our own Ronan Glon visited Maserati HQ in Modena, Italy to view the 2024 GranTurismo, he wrote, "I can't tell you much about the interior; I saw it, but I'm sworn to automotive omerta until early 2023. What I can say is that Maserati went to significant lengths to make the GranTurismo a true four-seater, and a pair of average-sized adults should be relatively comfortable in the rear seats." The Italians have finally released images of the new GranTurismo interior, and while we're still waiting to have a proper seat in the coupe, we can't detect that any lies have been told.  For those who found the new car's exterior much more evolutionary than one would have expected from not just a rebooted car, but a rebooted brand, the interior also retains familiar cues. The steering wheel is the biggest departure from the past, the new helm looking more like something out of a Mercedes-AMG product. There's a new screen beneath the infotainment display in the center console that appears to be devoted to HVAC controls. And there's no shift lever anymore; paddle shifters do the work of changing cogs in the eight-speed automatic transmission fitted to the ICE-powered trims. Otherwise, the Maserati clock assumes its usual place atop the dash between vent registers, the instrument panel lines create a strong sense of dual cockpits, and the leather looks as sumptuous as ever. The automaker only provided galleries for two of the three trims to be released, the Modena and Trofeo. Both get the 3.0-liter Nettuno V6, which makes 490 horsepower and 443 pound-feet of torque in the Modena, 550 hp and 479 lb-ft in the Trofeo. The two variants are distinguished inside by details like different leather patterning on the instrument panel and seats, more vibrant cross-stitching in the Trofeo, and a black Start button in the Modena versus the blue Start button in the Trofeo. Outside, the Trofeo wears carbon fiber embellishments like the front intake surrounds, rocker panel extensions, and decklid spoiler. We don't have interior images of the battery-electric GranTurismo Folgore yet. It likely has other interior surprises for us. Maserati will begin delivering the new GranTurismo in the second quarter of 2023. Pricing will start at around $200,000.  Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.