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FCA Partners With Goolge, Marchionne Is New CEO Of Ferrari And We Spy The 2018 Jeep Wrangler | Autoblog Minute

Greg Migliore recaps the week in automotive news, including a look at the FCA, Google partnership, Ferrair's new CEO, and the 2018 Jeep Wrangler. Ferrari Jeep Autoblog Minute Videos Original Video FCA

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 2019 Jeep Grand Wagoneer looks like a Grand Cherokee on steroids

It's a special day for Jeep fans. Thanks to the same dealer meeting leak that gave us a look at the 2018 Jeep Wrangler JL, here is our first glimpse of the new Grand Wagoneer. When it arrives for 2019, this three-row crossover SUV will be the top model in Jeep's range. We knew the Grand Wagoneer would be expensive – Jeep CEO Mike Manley said not to rule out prices upwards of $130,000 for this Range Rover fighter – but now we know it looks like it wants to pick an actual fight with its competitors. What's visible of the front and rear styling is very reminiscent of the current Grand Cherokee, but it's muscled up a bit and gets a set of sinister seven-element headlights. The seven-light theme is carried to the rear as well, and we have a feeling the number is a not-so-subtle reference to the seven-slot grille that all Jeeps wear. That said, here the grille is a short, wide-mouth affair that is a bit of a departure from those of other models. And there's a lot of brightwork in these renderings, not just on the grille but for similar pieces that connect the exhaust tips in the rear and tow-hook surrounds up front. Either by design or engineering, the Grand Wagoneer also looks wider than the two-row Grand Cherokee. The Grand Wagoneer will be about the size of the Dodge Durango three-row crossover and will be based on the platform used by the next-generation Grand Cherokee. The GC and Durango currently share a platform based on one used by Mercedes for its large SUVs, and it is not yet known whether the new Jeeps will use an evolution of that platform or something new. Hemi V8 and diesel and gas V6 engines are the likely powertrain options, and we wouldn't be surprised to see a Hellcat-powered version of this mean-looking luxury SUV at some point. Or at least we can hope. Related Video: Featured Gallery 2019 Jeep Grand Wagoneer Dealer Leak Spy Shots Image Credit: KGP Photography Design/Style Spy Photos Jeep Crossover SUV