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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.

6 luxury car brands to watch in 2024

2023 was a healthy year for the auto industry, and even with incentives returning and dealer lots filling up, there's plenty to like about the market if you build luxury automobiles, and we expect 2024 to be more of the same, which makes luxury-segment rivalries all the more interesting. Top luxury car brand rivalries? Well, that sounds downright uncivilized. But we know better, don't we? And when every quarterly sales update is an opportunity to remind somebody else that they bought the wrong status symbol, well, who can resist? Certainly not the diehard customers who fly their favorite brands' banners high.  Read more: Auto sales: Industry records best year since 2019 Read more: 2023 auto sales and 2024 preview: Ford Bronco vs. Jeep Wrangler This is a tricky segment to define, but essentially, we're looking at luxury car brands with depth to their portfolios and dealerships that exist to attract real-world customers. The Bentleys, Rolls-Royces and McLarens of the world are luxury cars, certainly, but we're more concerned with brands that have a bit more mass appeal — manufacturers who treat supply constraints as fiascos rather than features. If you disagree with our selections, feel free to let us know in the comments.  And since we're mostly concerned with finishing order, the luxury brands and totals featured here may change as new data come in throughout 2024. Due to the wild swings of the past several years, we're treating 2023 as the baseline by which we'll measure sales performance. And rather than rank brands vs. their finishing order in 2022, when supply-chain and inflationary issues still played havoc with sales figures, we're starting 2024 off with a clean slate.  The mainstream luxury segment is always a dogfight, but with their varied approaches to electrification all of the major luxury brands are in the midst of reshaping the premium landscape. Who is doing it right? Well, according to U.S. shoppers, the usual suspects are up to their old tricks.

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.

Aston Martin applies to trademark 'Vanguard' name

Aston Martin hit up three trademark registration offices in an effort to reserve the name "Vanguard." The automaker from Gaydon sent two requests to the European Union Intellectual Property, one to the Japan Patent Office, and one to the U.S. Patent and Trademark Office on March 22. CarBuzz discovered the filings and suspects the name could be applied to the carmaker's first battery-electric vehicle. We've no idea if that's correct, but it sounds like a fine guess. Two years ago, then-Aston Martin CEO Tobias Moers told Motor Trend the automaker would overhaul its conventional lineup in 2023, launch the luxury automaker's first EVs in 2026, and convert half the lineup to electric cars by 2030. Other reports from last year indicated the brand would offer an electrified version of every model in the range by that year, and launch an EV in 2025. The new Vanquish is expected to arrive in 2025 with a hybrid powertrain, and there were suspicions awhile back that it would offer an electric option. The questions are, is the Vanguard the name for the rumored electric Vanquish? And if Vanguard ends up being used anywhere, and that use is on an EV concept or production car, has the timetable for that car's appearance changed? Filing a trademark often happens in the final year or two before debut. Aston Martin just applied for the DB12 name; we expect that car on the market in less than a year. A similar span separated the Valkyrie, 2001 Vanquish, DBS trademarks from their launches. On the other hand, the Cygnet got trademarked here two years before its launch, the DBX, five. Our guess is that we'll see the EV before the timeline we might have expected in 2021. This is the brand's 110th anniversary year, after all. Between that, the raft of new product on the way, and a stunning start to the Formula 1 season, why not take advantage of the momentum. Company boss Lawrence Stroll might also want to show investors — both those who could inject more money and those who might be trying buy a large share — that the company is ready to ride the alternative energy tide the appropriate way this time, as opposed to its last electric effort, the Aston Martin Rapide E. The electrification is anticipated to commence this year with the arrival of the V8-powered plug-in hybrid powertrain in the Valhalla, and could be bolstered by a mild hybrid system in the updated DB11 thought to be renamed DB12.

Check out Autoblog Electric — your connection to the EV world

DETROIT — Autoblog today announces the launch of Autoblog Electric, a hub dedicated to electric vehicle news and research.  Powered by Autoblog, Autoblog Electric delivers the latest news from the EV world, shopping tools for owners to research their next electric vehicle and videos of the latest electric models. Autoblog Electric is also home to a Charging Station Finder, which allows users to search for EV chargers in their area by inputting their zip code into a mapping tool. “Autoblog Electric is a natural extension of our coverage at Autoblog as we seek to serve an increasingly electric world,” said Autoblog Editor-in-Chief Greg Migliore. “We aim to be the resource for EV owners and enthusiasts as they research their vehicles and the charging network around them. And of course, Autoblog Electric will obsessively cover the electric auto industry with the latest news from Autoblog.” Autoblog ElectricÂ’s editorial mission is to cover all-electric vehicles, plug-in hybrids, the charging network, sustainability issues, EV industry personalities and battery technology. Looking for some Autoblog Electric Swag? Check out our online shop. Alfa Romeo is the launch sponsor of Autoblog Electric.

Alfa Romeo's supercar is nearly sold out (but not yet approved)

Alfa Romeo's on-again, off-again supercar is taking shape. It hasn't been approved for production yet, let alone unveiled, but a recent report suggests that enthusiasts who want to add the model to their collection need to reach out to one of the firm's dealers as quickly as possible. Company boss Jean-Philippe Imparato told British magazine Autocar that several collectors have already put a deposit down on the car. There's no word yet on how many examples will be built, assuming the limited-edition model receives the proverbial green light for production, but the CEO suggested that demand will exceed supply. "It will be sold-out before I unveil the car," he told the publication. It's too early to tell what kind of supercar is in the pipeline. Allegedly called 6C, a name that seemingly confirms a six-cylinder engine, the model could feature a heritage-inspired design. "We are working on something that I could put aside the 8C in the museum of Arese, being proud of our contribution to the history of Alfa Romeo. That is what we want," Imparato clarified. He added that development work is ongoing. One of the numerous points that's up in the air is which six-cylinder the car will use. It's reasonably safe to assume that the engine will have a V configuration; Alfa Romeo doesn't have a straight-six engine in its arsenal. Although many of its sister companies do, it's not a layout that has historically been associated with the storied Italian brand while the V6 has been part of its heritage for decades. Using the 3.0-liter Nettuno V6 found in several recent additions to the Maserati range is likely more complicated than it might sound; Autoblog learned that Maserati isn't open to sharing the twin-turbocharged six-cylinder with another company, even one under the same umbrella. That leaves us with the 2.9-liter V6 that powers the Giulia Quadrifoglio, among other models, as the most likely candidate, but nothing is official at this stage. Stellantis executives will decide whether to approve the supercar in April 2023, according to Autocar. We're guessing that if deposits have already been taken and the car is nearly sold-out, there's a good chance that the model will see the light at the end of a production line. Haven't we already seen Alfa's supercar? If the idea of an Alfa Romeo supercar rings a bell, it's likely because coachbuilder Zagato unveiled a one-of-a-kind, Giulia-based model called Giulia SWB Zagato in December 2022.

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.