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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.

Lancia concepts sweep Stellantis Drive for Design contest

Stellantis describes is annual Drive for Design contest as "an opportunity for high school students to win fabulous prizes while learning about exciting career opportunities in automotive design." Winners not only get gear like a Wacom MobileStudio Pro 16, they're eligible for summer internships in one of Stellantis' design studios. For the last two years of the contest, Rocco Morales won first prize — last year with his Ram Stadion concept, and in 2022 with his Chrysler Helios concept — and that was after coming second in 2021 with his Jeep Crazy Horse concept. With Morales having graduated, aging out of the entry pool, Rohan Sieber could be the next in the repeat winner's circle. Sieber, a junior in Portola, California, won the 2024 Drive for Design challenge. Students were asked to create a fresh concept for any of Stellantis' global brands. Everyone who made the podium chose to create a fictional Lancia. Sieber's entry is the Lancia Zero, "an electric sports car concept inspired by Lancia's legacy of radical design and legendary performance" that reworks the philosophy of the Stratos HF Zero. A junior this year, Sieber has a chance to replicate Morales' record if he enters and wins next year. Second place went to Ryan Panizzoli, a sophomore out of Plymouth, Michigan. The single image provided doesn't put a name to his Lancia creation, but tiny captions indicate a slide-out module in the rear that contains a cooking station.   Owen Bronson of Canton, Michigan claimed third place with this Lancia Pugnale concept, explicitly called a "modern interpretation of the 1970 Lancia Stratos Zero HF Concept." Bronson kept more of the original than Sieber, and included the same kinds of cues that the actual Lancia brand applied to its Pu+Ra Zero and Pu+Ra HPE concepts that previewed future styling for the reborn automaker, like the Ypsilon lighting signature in front, the circular aperture on the roof, and the twin taillights.   The second- and third-place finishers get an Apple iPad Pro and Apple Pencil, a chance to network virtually with the Stellantis Design Team, a scholarship for a four-week summer program at Detroit's College for Creative Studies, and because they're Michigan locals, an invitation to be a Student Judge at the EyesOn Design at Ford House car show in Grosse Pointe, Michigan in June. Congratulations to all three of this year's winners. Design/Style Lancia Stellantis

Battery fire destroys Lancia Delta Evo-e RX team cars, shuts down World RX event in UK

A battery fire has destroyed both of Speed ONE Racing's electric Lancia Delta World Rallycross cars, Carscoops reports. The two Lancia Delta Evo-e race cars were reportedly in the paddock at Lydden Hill Race Circuit in the UK on Friday morning when a fire originating in one of the cars' battery packs spread and consumed the team's road tent, taking both cars with it. The fire shut down the World Rallycross Championship event while race authorities attempted to ascertain the cause of the fire.            View this post on Instagram                       A post shared by Rallycross - all about it! (@_rallycross_) "Following a fire in the service area of the Special ONE Racing team at Lydden Hill Race Circuit in Kent, England today (Friday, 21 July), the FIA World Rallycross Championship races scheduled for tomorrow (Saturday, 22 July) will not take place while investigations continue regarding the cause of the fire," FIA World Rallycross's promoter said in a statement released Friday.  "The fire began just before 08:45, with fire crews working hard to bring it under control and extinguish it as swiftly as possible. Regrettably, the entire Special ONE Racing area was burnt down, including both of their RX1e cars. There were no injuries and no other racing cars were affected," the statement continued. "The venue was not open to the public as there was no track action scheduled for the day." The Lancia Delta Evo-e race car is built on the World RX series' spec battery-electric platform supplied by by Austrian firm Kreisel. Its twin motors produce a combined 671 horsepower and 649 pound-feet of torque. Everything built on top of that chassis is a pure Lancia throwback produced by Green Corp Konnection (GCK), which was responsible for the fenders and wings that make the car look the part. GCK says the race car will do zero to 62 miles per hour in 1.8 seconds.  Related Video Attend Rally School + Drive A Pro 2 Truck | The List