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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.

Chrysler recalls 88,888 Darts, Durangos, and Grand Cherokees for two separate issues

Chrysler announced a pair of recalls for the Dodge Dart, Durango, and Jeep Grand Cherokee. They're unrelated, as the Dart recall concerns windshield washer pumps, and the Durango and Grand Cherokee recall is for fuel rails. But, as Automotive News discovered, the number of cars involved in both totals up to 88,888 cars, which is rather bizarre. Breaking down the coincidental number, we first have 34,633 2016 Dodge Durangos and Jeep Grand Cherokees recalled because fasteners on the intake manifold can come into contact with the fuel rail on some vehicles. This could lead to a fuel leak, and a subsequent fire hazard. Chrysler believes only 30 vehicles will have this defect, but it's inspecting any that could have had the issue. The other part of the 88,888 cars recalled in total consists of 54,255 2016 Dodge Darts. The windshield washer pumps on affected cars could short-circuit the wiper system, disabling the wipers. Chrysler will notify owners of all vehicles, and will replace any faulty parts at no cost to the owner. Owners can also contact Chrysler's customer care center at 1-800-853-1403. Related Video: News Source: FCA, National Highway Traffic Safety Administration via Automotive News Recalls Weird Car News Dodge Jeep SUV Sedan

All-Wheel Drive Dodge Challenger | Autoblog Minute

The all-wheel drive 2017 Dodge Challenger GT will be on display at the Detroit Auto Show in January. Dodge Autoblog Minute Videos Original Video autos challenger dodge challenger gt