1968 Citroen Ds20 on 2040-cars

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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.

Chris Harris explains why the world's best car is... the Citro?n 2CV?

Most recently we've seen Chris Harris in the driver's seat of a Jaguar F-Type, a McLaren P1 prototype and a Mercedes-Benz C63 AMG. And outside the car, there was his indignation over the demonization of the Porsche Carrera GT after Paul Walker's death. So you might not expect him to say of a 1957 Citroën 2CV with all of 12 horsepower, "it's the antidote to all the modern stuff I drive."
That's only the beginning of the hosannas, Harris going on to call the runabout designed to carry two farmers and 50 kilograms of potatoes at 39 miles per hour "the most interesting car I have or ever will own." We could tell you why, but it sounds so much more distinguished when he does it. So you can watch him do so in the video below. Unsurprisingly, not a single drift was given that day.

Citro"en Wild Rubis helps the DS cross over

What we have here is an urban crossover from Citroën that is the newest member of its well-received DS lineup, and we're told it will soon lead to a production machine with similar styling and intent. We'd love to tell you more, but the quirky French manufacturer hasn't actually revealed many details about the machine.
We do know that the Wild Rubis boasts a full plug-in hybrid drivetrain, but we have no idea what that all includes, what kind of power it produces or, well... anything else, really. Come to think of it, we don't even know if it can move under its own power. It's painted a wild ruby color, hence its name, and we think it's pretty.
If you're hankering for more detail than that, we're afraid you'll have to fly out to Shanghai and corral a few Italian executives for yourself. Or you could just sit back and stare at our high-res image gallery, live from the show floor, and read through the brief and uninformative press release below. It's up to you, but choose wisely. Oh, did we mention that it's pretty?