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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.

Junkyard Gem: 1977 Chrysler Cordoba with Corinthian Leather

The Chrysler Cordoba has become emblematic of an era full of underpowered, overdecorated Detroit land yachts, stuffed with plasticky heraldic crests and allusions to classy European vacation destinations. In fact, the 1975-1979 Cordoba was a pretty decent car by the standards of Malaise Era America, based on the same well-proven (if increasingly antiquated) platform used by the '69 Charger and the Plymouth Superbird, and it sold like crazy. Of course, what we remember these days is the name of the optional leather upholstery used in the Cordoba. Yes, soft ( not rich) Corinthian leather, which was a brilliant marketing name given to a cheap grade of leather from Newark, NJ. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Naturally, we must now watch the 1975 TV commercial that started it all. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The Corinthian Leather jokes began quite soon after the Cordoba went on sale, as we can see in this 1980s Ricardo Montalban interview. This car, which I photographed a couple of weeks ago in a San Francisco Bay Area self-service wrecking yard is completely used up, and it shows signs of having spent a good decade or two abandoned in a field somewhere. Still, from the purple paint to the once-snazzy "leather" landau roof (note the molded-in stitches) to the "golden" (plastic, in fact) Cordoba medallions on the taillights, door panels, and steering wheel, the Cordoba was the closest thing to the "Super Fly" Cadillac you could buy new from Detroit. This one has the LA-series 360-cubic-inch V8 engine, which made 155 horsepower. That's 23 fewer horses than the weakest engine you can get in the US-market 2017 Toyota Camry... but try getting a Camry with soft Corinthian Leather! Related Video: Featured Gallery Junked 1977 Chrysler Cordoba View 32 Photos Auto News Chrysler Automotive History question of the day malaise era chrysler cordoba

Dodge revamping lineup with AWD Challenger and lighter Charger

Dodge's current lineup is aging rapidly. The Charger, for example, is going on 5 years old but its platform dates back to 2006. FCA, according to Automotive News, is working on revitalizing Dodge's lineup with the first of some new models debuting later this year. The report reveals plans for the majority of FCA's brands, but the most interesting bit of information is an all-wheel-drive model for the Dodge Challenger, which is being referred to as the GT AWD. Mopar unveiled the Challenger GT AWD Concept at SEMA last year as a concept, but it looks like the idea stuck. The vehicle is set to make its debut this fall and will lead the way for a wide-body, Hellcat-powered version that will be released in 2017. That model will be called the Challenger ADR. The entire Challenger lineup will be redesigned in 2018, which includes switching over to the lighter Giorgio platform - the same one that underpins the Alfa Romeo Guilia Dodge will also redesign the Charger to accommodate the new Giorgio platform in 2018. A new two-door convertible could debut in 2021, resurrecting the Barracuda moniker. The aging Dodge Durango will get a light refresh in 2017 with the addition of an SRT model, which Automotive News reports will feature a 6.4-liter V8 engine. Other changes are in store for other FCA brands, including the debut of full-size crossover in 2018 for Chrysler, which will be followed by a midsize crossover in 2019. The Jeep Compass and Wrangler will get a redesign for 2017, with the Cherokee getting a light makeover, as well. The Wrangler-based pickup truck, which we recently spotted testing, is set for its debut in 2018, while the Wagoneer will come out a year later. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.