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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.

Autoblog's guilty pleasure cars

Guilty pleasures are part of life – don't even try to pretend like you don't have one (or two, or six). In the non-automotive space, this could come down to that secret playlist in your iPhone of songs you'll only listen to when you're alone; or think of that one TV show you really do love, but won't admit to your friends. I've got plenty, and so do you. Going back to cars, here's a particularly juicy one for me: several years ago, I had a mad crush on the very last iteration of the Cadillac DTS. Oh yes, the front-wheel-drive, Northstar V8-powered sofa-on-wheels that was the last remaining shred of the elderly-swooning days of Cadillac's past. Every time I had the chance to drive one, I was secretly giddy. Don't hate me, okay? These days, the DTS is gone, but I've still got a mess of other cars that hold a special place in my heart. And in the spirit of camaraderie, I've asked my other Autoblog editors to tell me some of their guilty pleasure cars, as well – Seyth Miersma, as you can see above, has a few choice emotions to share about the Mitsubishi Lancer Evolution. Read on to find out what cars make us secretly happy. Mercedes-Benz SL65 AMG This decadent convertible is the epitome of the guilty pleasure. It's big, powerful, fairly heavy and it's richly appointed inside and out. It's a chocolate eclair with the three-pointed star on the hood. Given my druthers, I'd take the SL65 AMG, which delivers 621 horsepower and 738 pound-feet of torque. That output is borderline absurd for this laid-back convertible. I don't care. You don't need dessert. Sometimes you just crave it. The SL line is about the feel you get on the road. The roof is open. The air, sun and engine sounds all embrace you. It's the same dynamic you could have experienced in a Mercedes a century ago, yet the SL gives you the most modern of luxuries. An Airscarf feature that warms my neck and shoulders through a vent embedded in the seat? Yes, please. Sure, it's an old-guy car. Mr. Burns and Lord Grantham are probably too young and hip for an SL65. I don't care. This is my guilty pleasure. Release the hounds. – Greg Migliore Senior Editor Ford Flex I drove my first Flex in 2009 when my mother let me borrow hers for the summer while I was away at college. The incredibly spacious interior made moving twice that summer a breeze, and the 200-mile trips up north were quite comfortable.

Detroit Three automakers and UAW will continue to require masks

GM CEO Mary Barra at a Warren, Mich., training center in September. (Reuters)   WASHINGTON — Detroit's Big Three automakers and the United Auto Workers (UAW) union said on Wednesday that workers will continue to be required to wear masks in workplaces. The joint statement from the UAW and General Motors, Ford and Chrysler-parent Stellantis NV said it was continuing the requirements "out of an abundance of caution." The U.S. Centers for Disease Control and Prevention (CDC) said in May that fully vaccinated people do not need to wear masks in most instances, including at work. The UAW and the automakers said temperature screening upon entering facilities is expected to be phased out. The UAW and automakers continue to recommend autoworkers get vaccinated. Many U.S. employers are still requiring vaccinated workers to wear masks in workplaces. Volkswagen AG's U.S. unit said it will "no longer require masks for fully vaccinated employees after June 21, and will continue to follow CDC guidelines." Toyota is among the automakers that has ended temperature checks and entry questionnaires at U.S. plants but it is continuing to require facial coverings. Honda and Nissan said they had made no changes to their U.S. employee COVID-19 requirements.   Plants/Manufacturing Chrysler Dodge Ford GM Jeep RAM Safety coronavirus