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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.

MotorWeek relives '80s coupes with Dodge Daytona, Ford Escort EXP

Get ready for a wave of nostalgia and the rapid realization of the huge progress in performance cars over the last 30 years. For its latest Retro Review, MotorWeek takes a look back at two, front-wheel drive coupes from the '80s that seem to have entirely vanished from the roads today. Both the 1986 Dodge Daytona CS and the 1986.5 Ford Escort EXP were considered affordable, sporty options in their day, but the passage of time hasn't been kind to either of their specs. The Daytona certainly looks the part of a performance machine with a body that's reminiscent of other '80s coupes, like the third-gen Chevrolet Camaro. However with 146 horsepower and 170 pound-feet of torque from a 2.2-liter turbocharged four-cylinder, acceleration wasn't exactly a strong suit. MotorWeek complained about copious torque steer, as well. The optional CS suspension upgrade package on this Daytona was apparently a nod to Carroll Shelby who was working with Dodge at the time. If anything, the Escort EXP withstands the test of time even worse. As a two-seat coupe, you might have expected Ford's engineers to really turn up the performance to fit the sporty image that the exterior conveyed. That didn't really happen, and depending on which model buyers ordered, they got either 86 horsepower with a 1.9-liter engine or the "high-output" version of that mill with 108 hp.

The Dodge Neon is alive!

"Holy crap! It's a new Dodge Neon! Like a new new one." Oddly, no one else on the Cancun resort shuttle seemed to notice. Or care. Ogling Mexican-market compact sedans is apparently something exclusive to automotive journalists on vacation. Yet there it was, fittingly on Dio de los Muertos, in all its resurrected glory. With a margarita in hand and an ocean in front of me, ignored, I turned my attention to my phone to get to the bottom of Neon version 3.0. Introduced for 2016, today's Dodge Neon is based upon and built alongside the Fiat Tipo/Egea, a C segment compact sedan co-developed by Fiat and Turkish industrial outfit Koc Holding. More than 125,000 were sold last year in Europe, with another 47,000 in Turkey. It's also sold in the Middle East and Africa, with Mexico alone getting the Neon version. Exterior styling is really the only difference, and then, only the crosshair grille manages to identify it as a Dodge. Then again, the same could be said for the not-so-dearly departed Dart, which belonged to the same segment. It was much bigger, though, with an extra 6 inches of overall length and 3 inches of wheelbase (which, as I just discovered, is "distancia entre ejes" en espanol). The Neon interior, not surprisingly, is pretty much the same as its Fiat siblings. The dash has two variations. A bigger, upgrade touchscreen resides in a dash-mounted, tablet-style infotainment pod, but the standard stereo head unit or 5-inch touchscreen upgrade fits into a binnacle shared with the instrument panel. It's a bit more like the Challenger, Charger, and yes, Dart in this regard, but in total, the Neon's cabin design is also less blocky and more organic in appearance. The switchgear is pure Fiat, but the steering wheel has the same control layout as Dodges, Jeeps and Chryslers. Power comes from the Challenger Scat Pack's 6.4-liter Hemi V8. No, it doesn't, I totally got you. The standard engine, dubbed FIRE, is a 1.4-liter naturally aspirated four-cylinder good for 95 horsepower and 94 pound-feet of torque. So, less than the Scat Pack. The optional engine, dubbed E.TorQ, which is in no way related to the Ram's eTorque mild hybrid system and not especially eTorquey, is a 1.6-liter naturally aspirated four-cylinder good for 110 hp and 112 lb-ft. Sadly, the Neon color selection is in no way neon, which probably doesn't matter since virtually every car on the Yucatan peninsula is painted white.