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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 24 Hour War: Adam Carolla's new documentary brings the Ford-Ferrari battle back to life

Long before the GoPro or even videotape, races were filmed by guys standing next to the track with 16-millimeter cameras. The images kind of shook, they didn't always hold focus, and over the years all the color has faded out of the film. It all conspires to make the endurance racing battle between Ferrari and Ford in the 1960s seem like ancient history. What Adam Carolla and Nate Adams' new documentary The 24 Hour War does best is make that inter-corporate battle feel as if it happened yesterday. Yeah, if you're an obsessive you've likely seen most of the shaky-cam race footage used here before. But what you haven't seen are the interviews that frame the war and explain the egos and engineering behind the legends. It's not a perfect movie, but it's the sort of movie only fanatics could make. And it's easier to appreciate if you're a fanatic too. The first 25-or-so minutes of the documentary are taken up with histories of both Ford and Ferrari and an overview of how ridiculously deadly motorsports were in the Sixties and earlier. It's all interesting (if familiar) stuff, that could have been handled in about a third the time with some brutal editing. Still, the two protagonists in the story are well drawn: the racing-crazed Enzo Ferrari, who only builds road cars to stay solvent; and Henry Ford II, who after being thrown into the deep end of the Ford Motor Company management in 1943 at the age of 25, wasn't going to be humiliated after Ferrari pulled out of a deal to sell him the sports car maker. With one notable exception, the filmmakers were successful in rounding up practically everyone involved who is still alive for an interview. That includes Dan Gurney, Mario Andretti, Pete Brock, Bob Bondurant, Piero Ferrari, Mauro Forghieri, Carlo Tazzioli, and even Ralph Nader. There are good archival insights from the late Carroll Shelby. But where's A.J. Foyt? After all, he co-drove the stupendous Ford GT40 Mark IV with Dan Gurney to victory at Le Mans in 1967. The interviews make the movie worthwhile, but it cries out for more technical depth about the cars themselves. Yes, the GT40 was complex and engineered practically like a production car, but there's no mention of how the Lola Mk VI and Eric Broadley kicked off the development. There's only a superficial explanation of what made the American-built Mark IV such a leap forward.

Ferrari GTC4 Lusso rights the FF's wrongs

Enamored as we may be with the idea, there's a good reason that more automakers aren't making shooting brakes these days. A three-door wagon (or elongated hatchback) is tricky to get right, stylistically speaking. The Ferrari FF might have come closer than most, but even the most dedicated of tifosi would have to admit it was a little awkward. The new GTC4 Lusso goes a long way towards setting that right. Sixteen feet long, to be exact. Unveiled here at the Geneva Motor Show, the GTC4 Lusso is not only better looking than its predecessor, but is more powerful and technologically advanced as well. Though Maranello is working on supplementing its V12s with hybrid assists and its V8s with turbos, the new Lusso still packs an old school atmospheric twelve. 6.3 liters now produce 680 horsepower and 514 pound-feet of torque (up from 651 hp and 504 lb-ft). The muscle is channeled to all four wheels, helping it reach 62 miles per hour in just 3.4 seconds and top out at 208 mph with privileged disregard for the conditions. There may be some compelling competition vying for the kind of money Ferrari will charge for the new Lusso, considering that the previous FF commanded a princely $300k. But nothing else (since the Jenson Interceptor) can offer the same combination of space and pace – and dare we say, grace. Beauty being in the eye of the beholder and all, choosing to take home a new GTC4 Lusso will still be a matter of personal taste – but that's a choice we wouldn't mind having to make. View 14 Photos This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The Ferrari GTC4Lusso debuts at the Geneva Show: class-leading performance, versatility in all driving conditions, sublime elegance. Geneva, 1 March 2016 – The new Ferrari GTC4Lusso is Maranello's latest interpretation of the four-seater concept, which combines extraordinary performance in all driving conditions with sporty elegance and luxurious comfort for both driver and passengers alike. The GTC4Lusso's name references several illustrious predecessors, not least the 330 GTC or its 2+2 sister model, the 330 GT, as well as the 250 GT Berlinetta Lusso, which married extreme performance with stylish design and sophisticated materials and craftsmanship.