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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.

Scrapyard Gem: 2011 Alfa Romeo Giulietta

Alfa Romeo first applied the Giulietta name to its cars in 1954, producing that legendary generation through 1965. The name was revived on a wild-looking sedan for the 1977-1985 period, just before Fiat bought the company, and then returned on a compact hatchback for the 2011 model year. Today's Junkyard Scrapyard Find is one of those first-year third-gen Giuliettas, found in a self-service yard in Yorkshire, England. Copart-owned U-Pull-It has two stores in Great Britain, one in England and the other in Scotland. I have documented quite a few not-available-on-our-side-of-the-water vehicles found during my trip over there, including a 2005 Smart ForFour, a 2002 BMW 320td, a 2005 Vauxhall Tigra TwinTop, a 2008 Mitsubishi i, a 2007 Mitsubishi Colt, a 2006 Peugeot 307 CC, a 2006 Hyundai Matrix, a 2006 Ford StreetKa, a 2000 Honda HR-V, a 1994 Rover 620 Si, a 2010 Peugeot Bipper, a 2009 Alfa Romeo Brera S, a 2010 Citroen C4 Picasso, a 2005 MG ZT 190 and a 1963 Bentley S3. This generation of Giulietta stayed in production through 2020, after which it was replaced by a Jeep Compass-related crossover that you can buy in the United States today. This car's closest U.S.-market relative was the 2013-2016 Dodge Dart, which was built on a widened version of the Giulietta platform; the 2015-2017 Chrysler 200 lived on a longer-wheelbase variation. The current Chrysler Pacifica still rides on a descendant of that chassis. Alfa Romeo managed to get the Giulietta into a starring role in Fast & Furious 6, back in 2013. There was talk in the early 2010s that the new Giulietta might be sold in the United States, but those tales turned out to lead nowhere. Instead, the 4C ended up being the first new Alfa Romeo available here since the last Spider Veloces and 164s were sold as 1995 models. I couldn't get the bonnet open on this car, quickly losing patience thanks to fingers frozen solid by Yorkshire January weather, so we'll just have to speculate about the engine beneath. Giulietta shoppers in the U.K. market could get the '11 with one of eight engine choices, ranging from the base 1.4 MultiAir straight-four petrol-burner and its 120 horsepower all the way up to a screaming 1.75-liter straight-four with 235 horses. Fiat Multijet diesels in 1.6- and 2.0-liter form were available as well. This one has the base six-speed manual, which Dart buyers could get bolted into their cars (few did so).

Alfa Romeo to gun for Jag F-Type with 6C

It has taken Alfa Romeo years of promises to finally, truly return to the US with the 4C sports coupe and its initial 86-dealer network. We already know that the sporty Italian brand has more models on the way in near future, with a midsize sedan, crossovers and more headed our way according to the company's five-year plan. Now, the latest rumor from an unnamed source speaking to Auto Express, claims that Alfa has another, more powerful sports car on the slate to take on an even higher rung of performance vehicles, cars like the Jaguar F-Type. The so-called Alfa Romeo 6C would launch as a coupe with the twin-turbocharged V6 engine from Maserati Ghibli (which makes 404 horsepower in that application) and a convertible would join the lineup later. The Alfa's platform would come directly from the Maserati Alfieri, which is supposed to launch in 2016. In terms of styling, the insider describes the new coupe as closer to the earlier 8C Competizione than the 4C. That suggests a front-engine, rear-wheel drive layout, plenty of gorgeous curves and the brand's long-lived shield grille flanked by LED headlights up front. Auto Express' source claims a 2017 launch date for the new range, and that could fit in Alfa's already-announced product plan. In its five-year forecast, the company said a specialty car would join the ranks from 2016-2018. At the time, we assumed this would be the sibling to the next-gen Mazda MX-5 Miata. However, the Italian end of the project was more recently reported to be in doubt, with thoughts that the codeveloped model may end up wearing a Fiat badge. The 6C could be an interesting alternative if the project comes to fruition. Featured Gallery 2015 Alfa Romeo 4C: First Drive View 43 Photos News Source: Auto ExpressImage Credit: Copyright 2014 Seyth Miersma / AOL Design/Style Rumormill Alfa Romeo Maserati Coupe Performance