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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.

The Hemi deserves to die | Opinion

Hi. I'm Byron and I love V8s. I want them to stick around for a long, long time. But not all V8s are created equal, and I will not mourn the passing of the modern Hemi. You shouldn't either. While we may agree that its death is untimely, if you ask me, that's only because it came far too late.  Stellantis’ announcement of its new, turbocharged inline-six that is all but guaranteed to kill off the Hemi V8 has led to quite a few half-baked internet takes. The notion being suggested by some, that automotive media were brainwashed into believing the Hemi was in need of replacement, is so far divorced from reality that I openly guffawed at the notion. Journalists have been challenging Chrysler, FCA and now Stellantis for years to deliver better high-performance engines. The response has always been the same: “Why?” Why replace a heavy V8 with a lighter, all-aluminum one? Why repackage powertrains for smaller footprints and better handling vehicles? Why be better when “good enough” sells really, really well? I too mourn the departure of good gasoline-burning engines, but since when was the Hemi one? HereÂ’s a quiz: Name every SRT model with an all-aluminum engine. TimeÂ’s up. If you named any, you failed. They donÂ’t exist. This isnÂ’t GMÂ’s compact, lightweight small-block, nor is it a DOHC Ford Coyote that at least revs high enough to justify its larger footprint. The Hemi is an overweight marketing exercise that happened to be in the right place at the right time. That time was 2003, when Chrysler was still Chrysler — except it was Daimler-Chrysler and the "merger of equals" was doing a bang-up job of bleeding the company's cash reserves dry while doing virtually nothing to address its mounting legacy costs. "That thang got a Hemi?" was emblematic of the whimsical, nostalgia-driven marketing of the colonial half of the "marriage made in heaven." That was 20 years ago. 20 years prior to that, emissions-choked American V8s were circling the drain faster than a soapy five-carat engagement ring in a truck stop sink.

Will the Dodge Demon do a 10-second quarter-mile?

The final teaser for the Dodge Demon is finally here, and it might just give us a clue as to how quick the new car really is. A brief glimpse at a time slip shows what might be a 10-second quarter-mile time. That's a significant step up from the standard Hellcat's 11.7 seconds, but considering all of the Demon's modifications, it's not an unreasonable time. The new video, "Judgment Day," shows the new Demon in its natural habitat, a quarter-mile drag strip. There isn't much new information, aside from the brief glimpse at a time slip. There is a good shot of the car in action and some nice audio from what we assume is a supercharged 6.2-liter Hemi. For comparison, the new 2016 Chevrolet COPO Camaro is capable of a 10.7-second quarter-mile run, while the 2016 Ford Mustang Cobra Jet dips all the way down into the 8s. The full reveal is less than a week away. Look for more information, including the long-awaited horsepower rating, next week during our coverage of the 2017 New York Auto Show. Related Video: New York Auto Show Dodge Coupe Performance dodge demon dodge hellcat