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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.

Junkyard Gem: 1994 Dodge Spirit

Under Lee Iacocca's watch, Chrysler began selling the first of the modern new K-Cars for the 1982 model year, and American sales of Ks and K-derived cars and minivans continued all the way through 1995. While these vehicles saved Chrysler from near-certain doom after the agony of a government bailout in 1979, the platform had become pretty outdated by the middle 1990s (though GM didn't hesitate to sell its similar-vintage J-Cars well into our current century). The Spirit replaced its aging Aries cousin starting in 1989, and has become very tough to find today. Here's a late Spirit with the optional Mitsubishi V6 engine, found in a Denver self-service yard recently. For the 1991 and 1992 model years, the Spirit R/T was the fastest new four-door car you could buy in the United States. With 224 horsepower from a very nervous turbocharged 2.2-liter engine, the Spirit R/T could run the quarter-mile in 14.5 seconds and hit a top speed of 141 mph. Today's Junkyard Gem isn't one of those cars, unfortunately. The base engine in the 1994 Spirit was a 2.5-liter Chrysler straight-four rated at 100 horsepower, but this car has the optional 142-horse Mitsubishi 6G72 V6 engine. The 6G7 family of engines remains in production to this day, 35 years after the first one went into a Galant, and members of this engine family have powered everything from the Diamante to the Sonata. On Chrysler vehicles of all-Mitsubishi design from this era, the engines tended to have big Mitsubishi emblems prominently displayed. For a Chrysler-designed car, though, it made more sense to badge the engine as a Chrysler. Note the British spelling of the unit of displacement here; GM and Ford started that trend back in the 1960s, with the "6.5 litre" Pontiac GTO and "7.0 litre" big Fords. With the big engine plus power windows, decklid luggage rack, and other luxurious (for a Spirit) options, I'm pretty sure this car didn't start life in a fleet. It drove more than 175,000 miles during its time on the road. The resale value of a 26-year-old Detroit sedan with high miles can't be much, even if the interior still looks nice enough, so any mechanical problem (or just a trade-in) spells doom for cars such as this one. The gold insets in the aluminum wheels look very stylish. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 117 out of 200 Americans preferred the Spirit to the Honda Accord! This content is hosted by a third party.

Ringbrothers 1969 Dodge Charger Defector is a mean green machine

The 1969 Dodge Charger is one of the most recognizable cars ever built. Its debut at the peak of the muscle car era, sleek bodywork, and roaring Hemi V8 represented everything that was wonderful about American cars from the 1960s. It was fast, loud and moved like a greyhound off the line in search of that mechanical lure. Ringbrothers, the shop behind cars like the De Tomaso Pantera "ADRNLN" and t he Chevy Chevelle "Recoil," have unveiled its latest project - the 1969 Dodge Charger "Defector". Like most Ringbrothers projects, a first glance doesn't show much more than some wheels, new paint and a different ride height. Like any good custom car, the devil is in the details. The Defector falls into the restomod category, meaning it has classic looks but has been updated with modern parts and technology. This is the first time the shop has done a Mopar product, and they wanted to knock it out with the first attempt. While it may look stock, the bodywork has been significantly altered. Compared to a standard '69 Charger, the trunk lid is two inches shorter and the wheelbase has been increased by three inches. That means the car has new rockers and new quarter panels. The car was then painted in a BASF color called "Greener On The Other Side." It wears a black vinyl roof and a black stripe around the rear. The stripe and grille both sport the Ring Brothers logo. The car rides on 19-inch HRE wheels and uses Baer brakes with six-piston front calipers. The new rear subframe comes from Detroit Speed. The ancient steering rack has been replaced with a new rack and pinion unit. We assume this means it won't steer like a drunken hippo in a mudslide. Like the exterior, changes to the interior are subtle. It looks stock, but the seats wear new upholstery and the dash has been fitted with an Alpine stereo with a touchscreen display. The new steering rack is fitted with a nice Nardi steering wheel. The most modern update rests under the hood. In place of the old V8, Ringbrothers have swapped in a new 6.4-liter Hemi V8. It's the same one you'll find in any number of modern Mopar products. It's been tuned by Wegner Motorsports and exhales through a new Flowmaster exhaust system. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.