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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.

2021 Dodge Durango to get SRT Hellcat limited edition

In January, spy photographers caught what we thought might be a mild hybrid version of the coming Dodge Durango, based on information Mopar Insiders gleaned from the UAW contract with Fiat Chrysler. Turns out we were correct, Mopar Insiders citing info from sources at Fiat Chrysler that the base engine on the 2021 Durango will be a 3.6-liter Pentastar V6 with eTorque. We don't have output figures yet, but he current Durango's base engine is the non-hybrid 3.6-liter Pentastar V6 making 293 hp and 260 pound-feet of torque in SXT trim. The V6 hybrid powertrain is offered in the Ram 1500 making 305 horsepower and 269 pound-feet of torque, and the Jeep Wrangler making 285 hp and 260 lb-ft., but doesn't increase output compared to the non-hybrid engine in either of those models. We're sure buyers would love for Dodge to bump the numbers up into Ram territory, but the eTorque unit serves the god of fuel economy and low-end refinement, so we shouldn't be surprised if there's no change. The MI report says Dodge has three other powertrains coming for 2021. The 5.7-liter Hemi V8 that comes standard on the Durango RT will carry over, adding eTorque as an option. That's the same standard and optional configuration Ram offers on the 1500 equipped with the 5.7-liter Hemi V8. The Durango's V8 produces 360 hp and 390 lb-ft., versus 395 hp and 410 lb-ft in the Ram. On the Ram, the eTorque system improves fuel economy by 2 mpg in the city, 1 mpg on the highway. The 6.4-liter Hemi V8 on the Durango SRT moves into 2021 as well. But the Durango SRT will need to cede its crown to a Durango SRT Hellcat coming next year. Dodge has already put the Hellcat engine in a Durango Pursuit model for law enforcement, making the full 797-hp wrought by the Hellcat Redeye motor. A couple of months ago, Road & Track caught a Hellcat badge on a Durango in a now-removed trailer for the new "Fast & Furious" film, leading all to believe a civilian-use version of the muscle SUV was on the way. MI claims we'll get the Hellcat's 707 hp and 645 lb-ft., but the trim will launch as a limited edition bearing numbered plaques on the instrument panel.  The only bad news in all this is that production shutdowns have delayed the 2021 Durango and the brand new three-row Jeep Grand Cherokee "at least three months from their original launch dates." Related Video:    

VW scandal, Alan Taylor on Vipers, and future cars | Autoblog Podcast #474

Episode #473 of the Autoblog Podcast is here. This week, Dan Roth chats with Sam Abuelsamid of Navigant Research about the just-announced deal pending between Volkswagen and the EPA, and Navigant's Transportation Outlook for 2025 to 2050. Alan Taylor, host of The Drive on ERN also visits the Podcast to talk about picking up his Viper ACR in Texas and driving it back to the West Coast. It all starts with the Autoblog Garage - check it out! Check out the rundown with times for topics, and thanks for listening! Autoblog Podcast #474 Topics VW/EPA deal Navigant Research Transportation Outlook Alan Taylor In The Autoblog Garage 2016 Lincoln MKX 2016 Volvo XC90 2016 Jeep Renegade Trailhawk Hosts: Dan Roth Guests: Sam Abuelsamid, Alan Taylor Rundown Intro & Garage - 00:00 VW/EPA - 25:51 Navigant Outlook - 38:47 Alan Taylor - 54:43 Total Duration: 01:13:11 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show in iTunes Podcasts Dodge Volkswagen