1984 Fiat Pininfarina Spyder Automatic 2-door Convertible on 2040-cars

Auto blog

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.

Driving the 2021 Chevy Tahoe and big news from Hyundai | Autoblog Podcast #640

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by News Editor Joel Stocksdale. They discuss some of the big trucks Joel drove: the 2021 Chevy Tahoe and a Mil-Spec-modified Ford F-150. After that is a look at the latest car news including Trofeo versions of Maserati's sedans, Hyundai's new electric brand called Ioniq, and the BMW M3 Touring station wagon and Hyundai Elantra N-Line. They wrap things up with some musings on anniversary of the 19th Amendment to the Constitution and how cars played a role in it. Autoblog Podcast #640 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Reviews2021 Chevy Tahoe Mil-Spec Ford F-150 Maserati Ghibli and Quattroporte Trofeo models revealed Ioniq becomes EV brand for Hyundai 2021 Hyundai Elantra N Line revealed BMW finally announces an M3 station wagon The 19th Amendment and how cars fit in Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Government/Legal Green Podcasts BMW Chevrolet Ford Hyundai Maserati

The BMW 8 Series leads this month's list of discounts

Whether you prefer the sleek looks of a sport coupe, the wind-in-your-hair exhilaration of a convertible or the flexible practicality of a four-door sedan, BMW has an 8 Series to suit your fancy. And if you're in the market right now, you may find that your local BMW dealership is willing to take $18,124 off the sticker price. That figure comes courtesy of TrueCar, and it reflects the discount buyers are getting off the 8 Series' average $122,395 retail price. Most of the 8 Series models in American showrooms today are 2019 models, and that's the model year to which the discount above applies. This represents the largest discount on a new car in America this month, based on the dollar amount off the car's sticker price, and the third largest discount by percentage. And it means the average transaction price for a 2019 BMW 8 Series is hovering at $104,271. 2020 BMW 840i Gran Coupe View 38 Photos BMW offers two distinct versions of the 8 Series, the 335-horsepower 840i with rear- or all-wheel drive, and the 523-horsepower 850i, which comes standard with BMW's xDrive all-wheel-drive system. If you want to step even further up the performance ladder, there's the M8, but that 600-horsepower monster is getting a much smaller $6,150 discount. If you're not into BMWs, the 2019 Mercedes-AMG GT boasts the second largest monetary discount this month, with buyers averaging $16,713 off the Benz's $176,035 sticker price. Another Mercedes, the S-Class, is next with a $11,452 discount. After that comes a pair of Maserati sedans, the Quattroporte and Ghibli, each with discounts of around $11,000. Since the Ghibli's base price is so much lower than that of its larger sibling, that represents a much larger 13.5% cut from its average retail price of $81,384 for an out-the-door cost of $70,373. For a look at the best new car deals in America based on the percentage discount off their suggested asking prices, check out our monthly recap here. And when you're ready to buy, click here for the Autoblog Smart Buy program, which brings you a hassle-free buying experience with over 9,000 Certified Dealers nationwide. Related Video: