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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 Editors' Picks: Our complete list of the best new vehicles

It's not easy to earn an “EditorsÂ’ Picks” at Autoblog as part of the rating and review process that every new vehicle goes through. Our editors have been at it a long time, which means weÂ’ve driven and reviewed virtually every new car you can go buy on the dealer lot. There are disagreements, of course, and all vehicles have their strengths and weaknesses, but this list features what we think are the best new vehicles chosen by Autoblog editors. We started this formal review process back in 2018, so there's quite of few of them now. So what does it mean to be an EditorsÂ’ Pick? In short, it means itÂ’s a car that we can highly recommend purchasing. There may be one, multiple, or even zero vehicles in any given segment that we give the green light to. What really matters is that itÂ’s a vehicle that weÂ’d tell a friend or family member to go buy if theyÂ’re considering it, because itÂ’s a very good car. The best way to use this list is is with the navigation links below. Click on a segment, and you'll quickly arrive at the top rated pickup truck or SUV, for example. Use the back button to return to these links and search in another segment, like sedans. If youÂ’ve been keeping up with our monthly series of the latest vehicles to earn EditorsÂ’ Pick status, youÂ’re likely going to be familiar with this list already. If not, welcome to the complete list that weÂ’ll be keeping updated as vehicles enter (and others perhaps exit) the good graces of our editorial team. We rate a new car — giving it a numerical score out of 10 — every time thereÂ’s a significant refresh or if it happens to be an all-new model. Any given vehicle may be impressive on a first drive, but we wait until itÂ’s in the hands of our editors to put it through the same type of testing as every other vehicle that rolls through our test fleet before giving it the EditorsÂ’ Pick badge. This ensures consistency and allows more voices to be heard on each individual model. And just so you donÂ’t think weÂ’ve skipped trims or variants of a model, we hand out the EditorsÂ’ Pick based on the overarching model to keep things consistent. So, when you read that the 3 Series is an EditorsÂ’ Pick, yes, that includes the 330i to the M3 and all the variants in between. If thereÂ’s a particular version of that car we vehemently disagree with, we make sure to call that out.

Drive like a prince: Join us for a walk through Monaco's car collection

Small, crowded, and a royal pain in the trunk lid to drive into during rush hour, Monaco sounds like an improbable location for a huge car museum. And yet, this tiny city-state has been closely linked to car culture for over a century. It hosts two major racing events every year, many of its residents would qualify for a frequent shopper card if Rolls-Royce issued one, and Prince Rainier III began assembling a collection of cars in the late 1950s. He opened his collection to the public in 1993 and the museum quickly turned into a popular tourist attraction. The collection continued to grow after his death in April 2005; it moved to a new facility located right on Hercules Port in July 2022. Monaco being Monaco, you'd expect to walk into a room full of the latest, shiniest, and most powerful supercars ever to shred a tire. That's not the case: while there is no shortage of high-horsepower machines, the first cars you see after paying ˆ10 (approximately $11) to get in are pre-war models. In that era, the template for the car as we know it in 2023 hadn't been created, so an eclectic assortment of expensive and dauntingly experimental machines roamed whatever roads were available to them. One is the Leyat Helica, which was built in France in 1921 with a 1.2-liter air-cooled flat-twin sourced from the world of aviation. Fittingly, the two-cylinder spun a massive, plane-like propeller. Government vehicles get a special spot in the museum. They range from a Cadillac Series 6700 with an amusing blend of period-correct French-market yellow headlights and massive fins to a 2011 Lexus LS 600h with a custom-made transparent roof panel that was built by Belgian coachbuilder Carat Duchatelet for Prince Albert II's wedding. Here's where it all gets a little weird: you've got a 1952 Austin FX3, a Ghia-bodied 1959 Fiat 500 Jolly, a 1960 BMW Isetta, and a 1971 Lotus Seven. That has to be someone's idea of a perfect four-car garage.  One of the most significant cars in the collection lurks in the far corner of the main hall, which is located a level below the entrance. At first glance, it's a kitted-out Renault 4CV with auxiliary lights, a racing number on the front end, and a period-correct registration number issued in the Bouches-du-Rhone department of France. It doesn't look all that different than the later, unmodified 4CV parked right next to it. Here's what's special about it: this is one of the small handful of Type 1063 models built by Renault for competition.

7 major automakers to build open EV charging network

A new joint venture established by BMW, GM, Honda, Hyundai, Kia, Mercedes-Benz and Stellantis will build a new North American electric vehicle charging network on a scale designed to compete with Tesla's industry-benchmark Supercharger network. The 30,000-plus planned new chargers will accommodate both Tesla's almost-standard North American Charging System (NACS) and existing automakers' Combined Charging System (CCS) options, effectively guaranteeing compatibility with the vast majority of current and upcoming electric models — whether they're from one of the involved automakers or not.  "With the generational investments in public charging being implemented on the Federal and State level, the joint venture will leverage public and private funds to accelerate the installation of high-powered charging for customers. The new charging stations will be accessible to all battery-powered electric vehicles from any automaker using Combined Charging System (CCS) or North American Charging Standard (NACS) and are expected to meet or exceed the spirit and requirements of the U.S. National Electric Vehicle Infrastructure (NEVI) program." Critically, the automakers involved will have a say in how the charging tech is implemented, guaranteeing that the hardware will play nicely with each automaker's in-house charging systems. Hyundai and Kia, for example, were hesitant to jump on board the Tesla NACS bandwagon earlier this year over concerns that the Supercharger network is insufficient for powering the two automakers' 800-volt charging systems; similar tech is used by Volkswagen and Porsche.  In addition to providing much-needed capacity and high-output charging for America's growing fleet of electric cars and trucks, the new network will integrate seamlessly with each automaker's in-app and in-vehicle features, rather than forcing customers to use third-party tools and payment systems, as is the case with some existing public charging infrastructure.  "The functions and services of the network will allow for seamless integration with participating automakersÂ’ in-vehicle and in-app experiences, including reservations, intelligent route planning and navigation, payment applications, transparent energy management and more. In addition, the network will leverage Plug & Charge technology to further enhance the customer experience," the announcement said.

Editors' Picks June 2023: BMW 3 Series and more luxury sport sedans

This month sees a number of luxury sport sedans gain Editors' Pick status thanks to updated or recently-all-new models coming out. The BMW 3 Series is a longtime favorite, and so is the Alfa Romeo Giulia at this point. Just like the electric version of the G80, though, the gasoline version is also an Editors' Pick this month. In case you missed our previous Editors' Picks posts, here’s a quick refresher on whatÂ’s going on here. We rate all the new cars we drive with a 1-10 score. Cars that are exemplary in their respective segments get an EditorsÂ’ Pick designation. Those are the ones weÂ’d recommend to our friends, family and anybody whoÂ’s curious and asks the question. The list that youÂ’ll find below consists of every car we rated in May that earned an EditorsÂ’ Pick. 2023 BMW 3 Series 2023 BMW 3 Series View 15 Photos Quick take: The 3 Series may not be the standard anymore, but it's still a superb luxury sport sedan with powerful engines, great handling, impressive tech and tons of space. Score: 7.5 What it competes with: Mercedes-Benz C-Class, Audi A4, Alfa Romeo Giulia, Cadillac CT4, Acura TLX, Lexus IS, Infiniti Q50, Genesis G70, Volvo S60 Pros: Enjoyable and powerful engines; fun handling; lots of space in rear seat and cargo area; attractive design inside and out Cons: Infotainment is frustrating to use sometimes; value isn't the best From the editors: Road Test Editor Zac Palmer — "The 3 Series ticks all the boxes that a top-shelf luxury sport sedan should. It's attractive but not gaudy. The driving dynamics leave me grinning at the end of a fun road, but don't beat me up on the highway. Any and all modern tech is present and accounted for. And while the price is high, it's not so bad for what you get. I'm an especially big fan of the M340i with its inline-six, but the four-cylinder in the 330i is an excellent option if you don't want to spend as much." In-depth analysis: 2023 BMW 3 Series gets fresh styling and infotainment   2023 Genesis G80 2022 Genesis G80 Sport Prestige View 61 Photos Quick take: The G80 has looks to kill, and it backs that design up with a functional and also-gorgeous interior. There's a lot of value to be had with this nice-to-drive luxury sedan.

Stellantis earnings rise along with EV sales

AMSTERDAM — Automaker Stellantis on Wednesday reported its earnings grew in 2022 from a year earlier and said its push into electric vehicles led to a jump in sales even as it faces growing competition from an industrywide shift to more climate-friendly offerings. Stellantis, formed in 2021 from the merger of Fiat Chrysler and FranceÂ’s PSA Peugeot, said net revenue of 179.6 billion euros ($191 billion) was up 18% from 2021, citing strong pricing and its mix of vehicles. It reported net profit of 16.8 billion euros, up 26% from 2021. Stellantis plans to convert all of its European sales and half of its U.S. sales to battery-electric vehicles by 2030. It said the strategy led to a 41% increase in battery EV sales in 2022, to 288,000 vehicles, compared with the year earlier. The company has “demonstrated the effectiveness of our electrification strategy in Europe,” CEO Carlos Tavares said in a statement. “We now have the technology, the products, the raw materials and the full battery ecosystem to lead that same transformative journey in North America, starting with our first fully electric Ram vehicles from 2023 and Jeep from 2024.” The automaker is competing in an increasingly crowded field for a share of the electric vehicle market. Companies are scrambling to roll out environmentally friendly models as they look to hit goals of cutting climate-changing emissions, driven by government pressure. The transformation has gotten a boost from a U.S. law that is rolling out big subsidies for clean technology like EVs but has European governments calling out the harm that they say the funding poses to homegrown industry across the Atlantic. Stellantis' Jeep brand will start selling two fully electric SUVs in North America and another one in Europe over the next two years. It says its Ram brand will roll out an electric pickup truck this year, joining a rush of EV competitors looking to claim a piece of the full-size truck market. The company plans to bring 25 battery-electric models to the U.S. by 2030. As part of that push, it has said it would build two EV battery factories in North America. A $2.5 billion joint venture with Samsung will bring one of those facilities to Indiana, which is expected to employ up to 1,400 workers. The other factory will be in Windsor, Ontario, a collaboration with South KoreaÂ’s LG Energy Solution that aims to create about 2,500 jobs. The EV push comes amid a slowdown in U.S.

2023 Alfa Romeo Stelvio Review: Exceptionally sporty, but compromised

Pros: Excellent steering and handling; two sporty engines available; stands out from crowd Cons: Mediocre interior; lackluster tech; small for its segment The 2023 Alfa Romeo Stelvio feels exotic for the compact crossover segment, with its Italian pedigree, sharp styling and sporty performance. It checks the boxes of a luxury daily driver, while still offering sharp driving dynamics that might mean its owner doesn’t miss the sports car that doesnÂ’t fit their lifestyle anymore. And, you canÂ’t dismiss that this thing is different than the rest of the pack. An Italian car with its signature “Scudetto” grille sure stands out in a parking lot full of more common family vehicles with more conformist design — especially if you pick one of the bolder, brighter paint colors from AlfaÂ’s palette. The biggest sticking point with the Stelvio is that its interior doesnÂ’t quite live up to the rest of the vehicleÂ’s grandeur. ItÂ’s not particularly roomy, and middling material quality and a lack of general artistry dull the illusion of exoticism in the otherwise glamorous and sporty Stelvio (though if you like carbon fiber, the QuadrifoglioÂ’s got you — and practically every surface — covered). The tech, while serviceable, is less spectacular than what youÂ’ll find in the competition (though considering how overwhelming some infotainment systems can feel today, that might not be the worst thing ever). The Stelvio is due for an update for 2024, so weÂ’ll see this generation stick around for a few more years before Alfa starts rolling out a raft of electric models. Still, if youÂ’re on the fence about whether to buy one now or wait until next year, we donÂ’t any expect major changes to come, especially not in terms of performance. And while we think some of its competitors offer more in the way of luxury and utility, the Stelvio is still a great choice for a customer who actually cares about driving dynamics and standing out from the crowd. Interior & Technology   |   Passenger & Cargo Space   |   Performance & Fuel Economy What it's like to drive   |   Pricing & Trim Levels   |   Crash Ratings & Safety Features What's new for 2023? The Stelvio gets an Estrema trim that borrows features like adaptive suspension and limited-slip differential from the line-topping Quadrifoglio, without taking the step up in engine performance and the much higher price tag that comes with it.

Future Classic: Alfa Romeo Milano

While the glory that was Alfa Romeo may be in the past on this side of the Atlantic, there still remains evidence of Italianate greatness on used car lots and in new car showrooms: stunning sports cars of graceful lines (if unreliable electronics), colorful sport utility vehicles of modest power and functionality, and a smattering of older sedans — or, “family saloons” — that, in 2023, might be called classic. Take, for example, the Alfa Milano. Why is the Alfa Romeo Milano a future classic? Launched on May 17, 1985, the car was born as the Alfa 75 in Italy, named to celebrate the 75th anniversary of the companyÂ’s founding in Milan. Unlike many Alfas of jaw-dropping beauty, the angular, pseudo-boxy Milano wedge, as it was called in America, was primarily about the engine. Sold between June 1986 and August 1989, the Milano was initially offered in three trim levels: Silver, Gold, and Platinum. Each level was equipped with more and more goodies, with the Platinum stocked with leather, a sunroof, ABS brakes, and a limited-slip differential. All of these models had a 2.5-liter, SOHC version of the Busso V6, producing 154 horsepower. It was nicknamed after its creator, Giuseppe Busso.  ItÂ’s worth noting that smaller engines were offered in Europe, and during the carÂ’s lifecycle there, they were replaced by a novel "Twin Spark" four-cylinder unit, which featured two spark plugs per cylinder, allowing for more efficiency and power. Initially, Milano was designed to compete with a new-ish class of European sports sedans like the Mercedes-Benz 190 and the BMW 3 Series. Under the Milano's skin was a modest rear-wheel-drive chassis with bits borrowed from AlfaÂ’s motorsports heritage: torsion bars and shock absorbers up front and a De Dion tube with shocks and coil springs in the rear (the De Dion "Dead Axle" setup was chosen as it reduced the unsprung weight in comparison to a live rear axle). In its day, the Milano was boarderline-quirky in an Italian way, battling an often deserved reputation for questionable reliability but undeniably handsome (in rosso Alfa, of course) and a joy to drive on challenging roads with its gutsy six and rear-wheel-drive platform. What is the best example of the Alfa Romeo Milano?

Alfa Romeo celebrates Quadrifoglio's 100th anniversary

This year, Alfa Romeo celebrates the 100th anniversary of the Quadrifoglio becoming part of Alfa Romeo lore. In 1923, team racing driver and eternal second-place finisher Ugo Sivocci painted a four-leaf clover inside a white square on his RL "Corsa" single-seater developed to win the Targa Florio. Sivocci won the race, giving Alfa Romeo its first international victory. A few months later, Sivocci went to Monza to test the P1 for the Grand Prix of Europe. He hadn't painted a four-leaf clover on the #17 P1 he drove, and he died during practice. True, correlation is not causation, but it's hard to find a more superstitious bunch than racing teams drivers. The Italians retired #17 from racing vehicles, and from 1924 every Alfa Romeo featured a Quadrifoglio on the bodywork inside of a triangle instead of a square. The missing point represented the loss of Sivocci. Since then, those green leaves have identified Alfas among the sea of other red Italian single seaters from competitors like Ferrari and Maserati. Of course, sometimes the cars didn't need such help, the lines on models like the TZ and P33 iconic enough to forgo further distinction. The Milanese added Quadrifoglio versions of production cars in the 1960s, but didn't make it part of official production names until the 1980s. Following that, the branding expanded into two clovers, a Quadrifoglio Oro (gold) denoting luxury versions, a Quadrifoglio Verde for sporty variants. Then came even wider use as the single letter "Q" for features like the Q2 locking differential and Q4 all-wheel drive. Centro Stile Alfa Romeo tweaked the logo, the graphic to appear at brand events that will kick off on the official centenary June 25. That's been dubbed "Quadrifoglio Day," host to a "Backstage" conference and parade open to all of Alfa Romeo clubs.    This year is also the 60th anniversary of Alfa Romeo's Autodelta racing division. Equivalent to an AMG or M division for the Italians, predating both German versions, the famous Alfa Romeo racing cars like the 1965 Giulia Sprint GTA and the 1975 33 TT 12 sports car racer emerged from the Autodelta workshops. These celebrations will come first, on March 5, punctuated by a conference at the Alfa Romeo Museum in Arese, Milan. Related video:

Alfa Romeo C43 is ready for the 2023 Formula One season

Following rival Red Bull's lead, Alfa Romeo has become the second team to unveil the car it will race in the 2023 season of Formula One. (Haas has revealed its livery, but so far not the new season's car.) Called C43, the single-seater Alfa stands out from its predecessor with a new aerodynamic profile and a redesigned livery, among other changes. The C43's red and black livery is the work of the Alfa Romeo Centro Stile, which is the same design center that draws the storied Italian company's road cars. Alfa Romeo describes the C43 as an evolution of the C42, its predecessor, and it notes that a technical team led by Jan Monchaux developed it around a new, Ferrari-sourced power unit. It features several updates and numerous new parts, though full details haven't been released, and Alfa Romeo hopes the changes made to the C43 will allow its team to improve during the 2023 season. "This car is an evolution of last year's, reflecting the new regulations and introducing major changes in the areas where we found improvements to be needed. I hope it's going to be quicker than the successful car we had last year, that's what matters most, and more reliable as well: We have put a lot of effort in this direction," said Monchaux, the technical director of Alfa Romeo's Formula One team. Alfa Romeo will begin testing the C43 in Barcelona, Spain, in February, and it will then send the car to Bahrain for more testing ahead of the 2023 F1 season's first race. Valtteri Bottas and Zhou Guanyu will drive for Alfa Romeo during the upcoming season. And while the odds of non-professional drivers taking the C43 for a spin are low, anyone with or without a license will be able to drive it in the F1 2022 video game.