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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.

Maserati MC20 supercar will debut in May then hit the race track

In the mid-2000s, Maserati was at the top of its game and at the top of performance car mountain with the Ferrari Enzo-based MC12. Today, Maserati isn't even in the foothills, let alone at the summit. The company is hoping to regain its credibility and status this year when it releases a new "super sports car" that we now know will be named MC20. We first caught a glimpse of the MC20, which is the spiritual successor to the MC12, in late 2019 via four murky photos of a camouflaged test mule. Judging by those photos, it seems the car will not look like any previous concept or model we've seen, which should help establish Maserati's insistence that 2020 marks the start of a new era for the company. However, test mules often have bodies and shapes that do not represent what the eventual production car will look like (the mid-engine Corvette started as this crazy Holden ute). Although it's alphanumeric, the name MC20 has some depth to it. MC stands for Maserati Corse, and 20 indicates the year 2020. But the MC12 wasn't released in 2012, so what's up? Maserati did this as a nod to its first race car, the Tipo 26, which was produced in 1926. Again, new era, back to its roots, etc.  The MC20 will have an all-new powertrain that has been developed and built by and for Maserati. It is unclear what type of powertrain the vehicle will launch with, but Maserati has confirmed the car will eventually be available as an "electrified version," just like every other Trident from here on out. A Ghibli PHEV is expected to kick things off when it arrives this spring, and we've already heard the sound Maserati's electric vehicles will make. As the MC indicates, Maserati plans to return to racing with the MC20, just as it did with the MC12. Following development in the Innovation Lab we recently featured, the MC20 will be built at the Viale Ciro Menotti plant in Modena, Italy.  The MC20 will debut at the end of May in Modena. More details to come. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Maserati Ghibli pricing announced for UK

Maserati's newest car, Ghibli, is a stunningly well-proportioned luxury sedan mixing the styling of the larger Quattroporte sedan and the GranTurismo coupe. We found it plenty good to in our First Drive review, and now we know how much it will cost (in the UK, at least).
Ghibli pricing announced at the Goodwood Festival of Speed is for customers in the UK, but based on current exchange rates and prices of other Maseratis sold here in the US, we can estimate its MSRP for our market. The base Ghibli, with a twin-turbocharged V6 making 325 horsepower, will cost 52,275 pounds for the Bits, making $75,000 a good guess for American buyers. If that number holds true, however, the Ghibli would be in a price category above its main competition from Audi, BMW and Mercedes-Benz. Take a step up to the Ghibli S, sporting a naturally aspirated V8 producing 404 hp, and you'll have to fork out 63,415 pounds or an estimated $91,000 here.
Just for kicks, the Europe-only Ghibli Diesel, which makes 270 hp and 420 pound-feet of torque with its diesel V6, is the least-expensive Maserati 48,830 pounds. Running an estimated $70k for us, we'd really like to have that one, too. After all, the sparkplug-less engine is the same one found in the Jeep Grand Cherokee EcoDiesel.