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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's new North American CEO is Chrysler's dealer guru

There's been a bit of a shakeup among the executive ranks at Chrysler and Maserati, as the Italian sports car manufacturer has appointed Peter Grady as its new North American CEO. Grady, who we imagine is about to get a very nice upgrade to his company car, will retain his role as vice president of dealer network development for Chrysler and Chrysler Capital, and is replacing Bob Graczyk at Maserati.
"It is with pleasure and anticipation that I welcome Peter to Maserati. He brings to our company nearly 30 years of leadership and experience. His background and industry expertise will be a great basis for the continued expansion of Maserati in North America," said Maserati CEO Harald Wester in a statement.
Also joining the team at Maserati is Saad Chehab, who previously worked for the Chrysler and Lancia brands and will be the new head of marketing for the Italian brand. He'll be replaced by Al Gardner, the former boss of Chrysler's southeast business center, as the head of Chrysler brand, according to Automotive News.

2017 Chrysler 300S Sport Appearance Package makes tweaks

Your opinion may differ, but to us, if you want the best-looking Chrysler 300, you pretty much have to go with the S model. And now, thanks to the new Sport Appearance Packages, the 300S is going to look even better. The exterior Sport Appearance Pack is going to be standard on the V8-powered 300S and optional on the V6 model. It'll bring you some good stuff, like a gloss-black grille and smoked headlamps, both of which sit in a sportier fascia with larger air intakes and LED fog lamps. There's also a new rear spoiler, and of course, 20-inch wheels (19s if you opt for all-wheel drive). Go for the interior Sport Appearance Package, and the entire inside section of the seats is finished in suede while the exterior sections are leather. The Light Gray Diesel contrast stitching adds a dash of spice to the otherwise black cabin, while the piano black trim's gloss is the closest you'll get to brightwork. Overall, the interior Sport Appearance Pack is a far less comprehensive job than the exterior pack, but it's still pretty nice. We like the overall look provided by both Sport Appearance Packages. They are clean, not overdone, and take the already serious look of the 300S a step further. But there's also little hiding the 300's age at this point. While it's a good look, it's a poor replacement for an all-new 300. We're waiting, Chrysler. Pricing isn't out yet, but we can tell you that dealers will begin taking orders for both the Interior and Exterior Sport Appearance Packages this August. You can see what both packages look like on in the gallery up top, which also features the new Ceramic Gray exterior color.