1974 Alfa Romeo Spider Veloce on 2040-cars

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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.

On Location at the Alfa Romeo Museum with the new Giulia

The most exciting news from the reveal of the new Alfa Romeo Giulia was undoubtedly the 510-hp Quadrifoglio model that will top the lineup. To play up the brand's Italian-ness, as well as the fabulous sound the twin-turbo engine makes, Alfa had opera singer Andrea Bocelli sing the car out onto the stage. The event took place at Alfa Romeo's old headquarters in Arese just outside Milan. It's also the site of the brand's museum, which has been closed to the public for years and was recently expanded and redone. We got a quick preview ahead of the museum's official public reopening on June 30, 2015. Anyone traveling to the Milan area should definitely check it out, even if those who aren't die-hard Alfisti. Before the Alfa event, I got to spend some time at Expo Milano 2015. Expos like it are held every five years now around the world and are the modern-day equivalent to a world's fair. The theme was "Feeding the Planet, Energy for Life" with the pavilions from various countries showcasing displays on food production, shortages, and future solutions. When you're done watching our On Location video, stick around for an Alfa promo reel that teases the Giulia's insanely delicious noise.

Alfa Romeo's first EV reportedly due out in 2024 as small crossover

The first series-produced electric Alfa Romeo model will allegedly make its debut in 2024. Official details aren't available, but a recent report claims that the EV will take the form of a small, entry-level crossover that will be closely related to the Jeep Avenger under the sheetmetal. Don't be alarmed if the nameplate "Avenger" doesn't ring a bell, or if you associate it with a series of Dodge models built from the 1990s to the 2010s. Across the pond, the emblem denotes a hatchback-like, city-friendly front-wheel-drive Jeep built on a platform that underpins several cars in the Stellantis portfolio. It's on these bones that Alfa Romeo will build its first EV, according to British magazine Autocar. The soft-roader could be called Brennero, a name borrowed from a mountain pass in Italy, and the publication wrote that current and past models will influence its design; the report notably cited the original Giulietta released in 1954 as a source of inspiration. Time will tell if that's accurate, and how designers will transfer 70-year-old styling cues onto a mass-produced crossover developed for young, urban buyers. On the electric side of the lineup, the model will share powertrain parts with its Jeep-badged sibling. For context, the subcompact Avenger (which stretches approximately 161 inches long and 60 inches tall) ships with a single, front-mounted electric motor that zaps the front wheels with 154 horsepower and 192 pound-feet of torque. Electricity is stored in a 54-kilowatt-hour lithium-ion battery pack, and Jeep quotes a 250-mile driving range when tested on the WLTP cycle used in Europe (the EPA-estimated figure would likely be lower). Like the Avenger, the Brennero will be offered with a gasoline-powered engine in some markets. Again using a Jeep as a reference point, the piston-powered option is a turbocharged, 1.2-liter three-cylinder shared with the Peugeot 208, among others, and rated at 154 horsepower. If the report is accurate, the Alfa Romeo Brennero will land in showrooms in June 2024. Our crystal ball tells us that it won't be sold in the United States due in part to its small size; Jeep doesn't sell the Avenger here, after all. American drivers who want to put an electric Alfa Romeo crossover in their driveway will need to wait until the rumored second-generation Stelvio makes its debut at some point in 2026.