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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.

Dodge Durango SRT vs. Jeep Grand Cherokee SRT | Which should you buy?

Choice is a good thing. And when it comes to high-performance sport utility vehicles, there are more choices today than ever before to tantalize buyers into showrooms. And why not? Americans love SUVs, and, while there's a stronger push to go green now than ever before in the history of internal combustion, there's still a large contingent of buyers who firmly believe in choosing the biggest, baddest, most powerful powerplant. For those buyers, the Dodge Durango SRT and Jeep Grand Cherokee SRT are two of the most potent options. But which one should you buy? They both deliver 475 horsepower and 470 pound-feet of torque to all four wheels through an eight-speed automatic transmission. They both do 0-60 in around 4.4 seconds, and both boast top speed numbers that will handily land you in jail if written on a speeding ticket. Choosing between the two, then, is a bit more nuanced than which is faster. That said, the Jeep is probably a bit quicker at the track than the Dodge. We'd wager than the Grand Cherokee SRT's 5,104-pound curb weight (versus 5,510 for the Durango SRT) and 114.8-inch wheelbase (versus 119.8) will pay small dividends in acceleration, cornering, and braking performance. So, if that's the only category by which you believe these SRT-fettled SUVs should be judged, choose the Jeep. View 17 Photos But let's get real here for a moment. As much fun as it is to wrangle a brutish ute 'round a racetrack – and trust us when we tell you it's a blast – the number of hi-po SUV owners who will ever show up at Bondurant in an SRT-badged 4x4 is probably in the single digits. So, when evaluating which of the two Hemi-powered vehicles is right for you, ultimate lap times are probably of little concern. If you're choosing between these two overpowered players, practicality is probably just as important as performance. And in that category, the Durango SRT comes out on top. For starters, the Dodge is a three-row SUV with six seats, whereas the Jeep is a two-row, five-passenger platform. Fold down the rear bench and there's 84.5 cubic feet of cargo area in the Durango, versus 68.7 in the Grand Cherokee. And if you tow, the Durango SRT's 8,600-pound max rating handily bests that of the Grand Cherokee SRT's 7,200-pound capacity. Ask yourself what's most important: performance or practicality. And then consider the price. The Dodge is nearly $4,000 less expensive than the Jeep.

Stellantis previews 4 electric platforms: Here's how they'll be used

Stellantis EV Day is hitting hard and fast this morning, with big news coming from Dodge and Ram and Jeep and the rest. But to support those brand transformations, a core initiative within Stellantis will help it become a leader in electrification. To do that, the group is developing platforms and technologies with cross-shared components and systems. This starts with four flexible BEV platforms: STLA Small, STLA Medium, STLA Large and STLA Frame. As for targeted numbers, they’re lofty: By 2024, Stellantis aims for over 500 miles of range, 0-62 mph in 2 seconds and charging 200 miles of range in 10 minutes. The four platforms will offer battery capacities from 37 kWh to more than 200 kWh. More specifically, STLA Small will offer 37-82 kWh and up to 300 miles of range. STLA Medium will have 87-104 kWh and up to 440 miles. STLA Large will provide 101-118 kWh and up to 500 miles of range. The truck-focused STLA Frame will provide 159-200+ kWh and up to 500 miles of range (and will support an electric Ram 1500 pickup). Chrysler EV Front 34 View 8 Photos Stellantis has big plans for the STLA Large platform, and is currently developing eight vehicles for it in the next three to five years. Examples of possible vehicles shown include a midsize Ram truck and a Jeep off-roader that could fight against the likes of the Toyota 4Runner. Stellantis design boss Ralph Gilles could be seen in a presentation looking over a Chrysler electric crossover based on this platform. We also saw a Wagoneer badge teased momentarily. There was a rendered silhouette of a crossover that looked like it could compete with the Ford Mustang Mach-E. Gilles said the platform would allow Stellantis to “create a long-range luxury sedan, an all-conquering muscle car, a heart-of-the-market DUV, a heart-of-the-market SUV, a very capable Jeep off-roading white-space opportunity vehicle as well as a new mid-sized truck.” See for yourself in this video starting at the 90-minute mark. As for powertrains, Stellantis is developing three electric drive modules with a shared, scalable inverter, and other common components, as well as in-house software to control them. Those drive units will offer from 70 to 330 kW (94-402 horsepower). More specifically, one EDM will provide 70 kW, a second will provide 125-180 kW, while the most potent can produce 150-330 kW.