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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.

Least satisfying vehicle rankings seek to highlight the worst cars of the year

Consumer Reports polls its members on all sorts of topics related to how they buy and use products ranging from mobile phones to humidifiers for indoor plants. Cars are regularly one of CR’s most interesting topics, and its recent study on the least satisfying vehicles to own offers insights into the cars people wish they hadnÂ’t purchased. CR polled thousands of members with questions about what they liked and disliked about the vehicle theyÂ’d owned for a few years. When asked if they would definitely repurchase the same car, the following vehicles came back as the least likely to be purchased a second time: Kia Forte: 51% would buy again Nissan Altima: 51% would buy again Nissan Kicks: 49% would buy again Volkswagen Taos: 48% would buy again Kia Seltos: 48% would buy again Jeep Compass: 46% would buy again Mercedes-Benz GLA: 45% would buy again Infiniti QX50: 40% would buy again Mercedes-Benz GLB: 39% would buy again Volkswagen Atlas Cross Sport: 38% would buy again When Autoblog tested the VW Atlas Cross Sport in March 2022, we liked the styling and the price was right, but it lagged rivals in driving excitement and interior quality. A number of recalls donÂ’t help the Cross SportÂ’s cause much, either, as some models have more than a dozen actions by the National Highway Traffic Safety Administration. Even the 2023 model already has four recalls. The annoyance of recalls and the hassle of just-average reliability ratings could have played into the Cross SportÂ’s place as the least satisfying vehicle. On the other end of the spectrum, the Chevrolet Corvette earned the top spot as CR's most satisfying car. The Porsche 911, Rivian R1T, Ford Maverick Hybrid, and Hyundai Ioniq 5 round out the top-five most satisfying vehicles to own. Given the rabid following the 911 has built over the years and the insane performance Chevy derived from the latest Corvette, itÂ’s not surprising to see them in the top spots. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Green Infiniti Jeep Kia Mercedes-Benz Nissan Volkswagen Car Buying Used Car Buying Consumer Reports worst cars

2019 Jeep Renegade Limited and Trailhawk revealed with updated styling

A few weeks back, we got our first glimpse of the refreshed 2019 Jeep Renegade. The Italian-built compact crossover is currently the smallest model in Jeep's lineup. Details were scarce, but we now have some new info on the European-spec model as well as a whole batch of photos of both the Renegade Limited and Renegade Trailhawk. Visually, both the Limited and Trailhawk models get revised front fascias with dark LED and Xenon lighting that mimics the new Jeep Wrangler JL. The Limited's bumper includes more body-color panels with new turn signals, fog lights and a lower air intake. Outside of the new lighting, the only real change to the front of the Trailhawk is the lack of a bright red front tow hook. In the rear, both models get new taillights, though the bumpers appear to be the same. The Renegade Limited now comes with 19-inch wheels. The Renegade now has new gasoline and diesel engines, though it's unclear which — if any — will make it to the U.S. market. There's a 1.0-liter turbo inline-three that makes 120 horsepower, a 1.3-liter turbo inline-four that makes either 150 or 180 horsepower. That makes it as powerful as the 2.4-liter naturally-aspirated inline-four that's currently available. The 1.6-liter and 2.0-liter turbo diesel engines — not available in the U.S. — both get updated European emissions equipment. There are three transmissions: a six-speed manual, a six-speed dry dual-clutch and a nine-speed auto. The Renegade is still available with both front- and four-wheel drive. There are two four-wheel drive systems, with one slightly more sophisticated system reserved for the Trailhawk. Other carryovers include the removable My Sky roof panels and most of the interior. The Renegade also gets the latest version of FCA's UConnect infotainment system that is compatible with Apple CarPlay and Android Auto. Pricing hasn't been announced, but look for U.S.-specific details sometime later this summer. Related Video: