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New electric Ypsilon city car is Lancia's last bid for relevance

Stellantis-owned Lancia has unveiled its first new model in well over a decade. Offered only with an electric drivetrain, the new Ypsilon is a small, premium four-door hatchback developed to make the 118-year-old Italian brand relevant again after an extended period of decline. We shouldn't be writing this story, because Lancia shouldn't be around to release a new Ypsilon. Sergio Marchionne, the CEO of Fiat-Chrysler Automobiles until his death in 2018, planned to close the brand. It was too small, too heavily reliant on the European market, and ultimately more of a burden than anything else. He executed his plan gradually: first, he tried giving Lancia a handful of Chrysler models to sell in Europe, which didn't work. Then, he gradually pulled the plug on Lancia's range and foreign operations, leaving the company with a single model (the last-generation Ypsilon) to sell in a single country (Italy). Rewind to the 1990s, and that's exactly how Autobianchi shut down. History didn't repeat itself this time. Stellantis executives decided to give every brand in the group a chance to prove why it deserves to exist. The third-generation Ypsilon (we're counting the Y launched in 1995 as the original) is Lancia's first argument. Having access to its parent company's parts bin helped keep development costs in check, and the hatchback shares its Common Modular Platform (CMP) with other small hatchbacks you'll see meandering across Europe such as the Peugeot 208 and the Opel Corsa. Visually, it borrows a handful of styling cues from the Pu+Ra HPE concept unveiled in 2023, like low-mounted headlights and three thin strips of LEDs on the front end. Out back, you'll find a pair of round headlights ostensibly inspired by the ones fitted to the Stratos, a coupe that cemented Lancia's reputation as a force to reckon with in the World Rally Championship (WRC) during the 1970s. That's as much of Lancia's rallying heritage the brand chose to channel, however. Instead, it's highlighting the upmarket chapter of its history: for decades, the brand was associated with luxury rather than with performance. Italian presidents rolled around in purpose-built Flaminia sedans in the 1960s. Rallying was the brand's claim to fame in the 1970s and the 1980s, and Lancia unceremoniously became associated with badge-engineering during the 1990s. This is where its decline began. The new Ypsilon's job is to reverse it by giving buyers a more stylish alternative to, say, the 208 it's based on.

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 teases new concept inspired by the legendary Stratos HF

The once-storied Italian marque Lancia currently sells only one car, an underwhelming hatchback called the Ypsilon that was launched way back in 2011. However, there are signs of life at the Stellantis-owned brand. They've teased a new concept, and from what we can see it looks to be inspired by the legendary Lancia Stratos HF. So far all we have is a name, the Emozione Pu+Ra. However, the rendering that came with the announcement shows the back half of the concept with some unmistakable Stratos cues – dual round taillights, the flat and wide black spoiler, rear glass with striped shading that evokes the original's rear window louvers.  Some of those cues, like the suspended taillight rings, stem from the Pu+Ra concept unveiled at November's Lancia Design Day conference. There, the company laid out its broad plans to restore the moribund brand to its former glory with — you guessed it — a full EV lineup. It unveiled the Pu+Ra Zero concept that was more sculpture than car, lacking what some would argue to be critical components such as doors, windows, and wheels.  Lancia said the Pu+Ra name was an abbreviation of "pure" and "radical" (not plutonium and radium), and the Zero is a callback to the 1970 Stratos Zero concept. That particular Marcello Gandini wedge made a splash at the Turin Motor Show and remains to this day the most extreme of the many doorstop-shaped cars from the era.  So if the speed form is analogous to the Stratos Zero, then this next evolution in the teaser should be analogous to the Stratos HF production car. Built for Lancia's rally efforts, the singular design won three consecutive World Rally Championships from 1974-76. Obviously the mid-engined layout of the Stratos HF is irrelevant to an EV, but Gandini's brutal blade was as unprecedented as the Miura he had designed for Lamborghini. In other words, the Emozione Pu+Ra should be a distilled and purposeful looker. Lancia CEO Luca Napolitano calls the upcoming concept the company's "brand manifesto for the next 10 years." We shall see what that looks like when it's unveiled on April 15.