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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.

Alfa Romeo franchises 86 dealers across North America

Alfa Romeo's return to North America has been a long time coming, which has given us plenty of time to wonder: Will the now-merged Fiat-Chrysler let Fiat dealers sell Alfas, or will the shapely Italians be available in Maserati dealers? The answer we've been waiting for? Both. Auburn Hills has just released the list of 86 initial dealers that will be authorized to sell the Alfa Romeo 4C (Autoblog senior editor Seyth Miersma is driving one today in San Francisco, incidentally), setting the groundwork for a larger Alfa Romeo lineup to follow. The list includes 82 dealers across 33 states and four more in Canada. Though the vast majority are expanding upmarket from Fiat studios, a few are branching downmarket from Maserati dealers - not a one of them, in case you were wondering, having expanded from a Ferrari showroom. The highest concentration of dealers will be found in California, Texas and Florida, but while you might have thought Little Italy would be a prime location, there won't be a single dealer in Manhattan. Not in any of the five boroughs, in fact, so if you live in New York, you'll have to trek out to Larchmont in Westchester or Somerville, New Jersey, to place your order. Of course, that's at least the case for now, as Alfa plans to eventually expand to over 300 dealers in North America. In the meantime, you can check out the full list in the press release below to see how close you are to a new Alfa dealer. ALFA ROMEO FRANCHISES AWARDED TO 86 DEALERS IN U.S. AND CANADA - Alfa Romeo dealer network established in U.S. and Canada - Initial pool of 86 dealers drawn from existing FIAT and Maserati brand dealers - Additional Alfa Romeo franchises to be awarded later this year June 10, 2014 , Auburn Hills, Mich. - An initial group of 86 dealers have been awarded Alfa Romeo franchises in the United States and Canada. In the U.S., 82 Alfa Romeo dealers are located in 33 states, with California, Texas, and Florida having the largest concentration of dealerships. There are four Alfa Romeo dealers in Canada in this first group. These 86 dealers will be the first to sell the all-new 2015 Alfa Romeo 4C coupe and limited-edition 4C Launch Edition when the iconic Italian sports car brand returns to the North American market this year. "This group of dealers represents the first phase in the Alfa Romeo dealer network selection process," said Peter Grady, Vice President of Network Development, Chrysler Group LLC.

Sergio Marchionne wants Alfa Romeo back in F1

It's been decades since Alfa Romeo has competed in Formula One. But if Sergio Marchionne gets his way, it could make a comeback soon. Now we know what you might be thinking: Alfa Romeo and Ferrari are both part of the same Fiat Chrysler Automobiles group, so why would Marchionne want two brands competing against each other in such a costly racing series? Because technically speaking, Ferrari is no longer part of FCA, that's why. They share mostly the same owners and are run by the same person (Marchionne), but the Prancing Horse marque recently split off from its former parent company and floated its own shares on the stock market. That makes it a separate entity, and also means that FCA no longer has a direct link to F1. But its chief executive clearly thinks the investment is worthwhile. Marchionne has been known to state grandiose plans, but he's also been known to carry through on many of them. So the next question is, if the plan goes through, just how Alfa Romeo might participate in F1? Some automakers (like Mercedes) field their own teams, others (like Honda) compete as engine suppliers, and still others (like Infiniti) as branding partners. Alfa could go either route, but Marchionne told Italy's La Gazzetta dello Sport that "Alfa Romeo is able to make itself a chassis, and it is able to make engines." Of course, that doesn't mean that it necessarily will. It could outsource a chassis from a constructor like Dallara, which is located near the same Varano circuit that Alfa uses regularly. It could also source an engine from its former sister company: Marchionne floated the possibility of starting a separate engine program in Maranello for Red Bull when it was hunting for a new engine partner, and could ostensibly do the same for Alfa Romeo. "In order to re-establish itself as a sport brand, Alfa Romeo can and must consider the possibility of return to race in Formula 1," said Marchionne. "How? Probably in a collaboration with Ferrari." Alfa Romeo first competed in F1 in the early 1950s, winning the world championship two years running in 1950 with Giuseppe Farina (scion of Pininfarina) and 1951 with Juan Manuel Fangio. It then dropped out, only to resurface as a full constructor team between 1979 and 1985, with limited results. It also supplied engines to an array of teams in the 1960s, '70s, and '80s.