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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 flooded with over 8,000 Ram 1500 EcoDiesel orders in 3 days

The diesel, half-ton pickup has long been a Holy Grail to many truck fans, largely because of its potential to achieve both high payload and great fuel economy. Strange, then, that auto companies have seemingly been slow to react. However, Chrysler is finally wading into the pool for the 2014 model year with a version of its Ram 1500 pickup, and early claimed returns are showing the advantage of being first on the market. The Auburn Hills automaker has just revealed that its initial allocation of 8,000 EcoDiesel trucks has been filled by dealers in just three days.
That flood of orders came from February 7-10, and that strong surge of interest apparently amounts to a new Ram record for the number of customer orders placed for a vehicle in such a short period of time. In fact, EcoDiesel models accounted for over half of Ram 1500 orders over that period, despite the fact that the diesel option costs several thousand dollars more than a comparable gasoline-engined model. That impressive total did not come entirely as a shock to Ram officials, however: "We knew customers have been asking for it," Nick Cappa, Ram Truck communications officer, tells Autoblog.
The 2014 Ram 1500 with its 3.0-liter EcoDiesel V6 and standard eight-speed TorqueFlight automatic makes 240 horsepower and 420 pound-feet - a combination good for 9,200 pounds of towing. Despite that pulling power, its fuel economy is rated at 28 miles per gallon highway (the best among trucks in its class), 20 mpg city and 23 mpg combined. Four-wheel drive variants gives up a single mpg in all categories.

Ram providing horsepower for 142nd Kentucky Derby

More than 120,000 people will descend on Louisville, KY for the 142nd Kentucky Derby this weekend. Seersucker, bowties, and very large, obnoxious hats will be the most common attire among those in attendance, all of whom will have an unquenchable thirst for mint juleps. Ram wants to capture their attention. The truckmaker has announced a new "multi-tier sponsorship" of Churchill Downs and the Kentucky Derby, and will serve as a major advertiser during Saturday's race. The company will air two 30-second advertisements during NBC's broadcast. The first, titled "Truck People – Derby" is up top, while Ram is saving the second, "Never Settle," for race day. Beyond the ads, racegoers will be treated to on-site displays around the track, which is perhaps the best evidence of a truck's toughness – if the official truck of the Kentucky Derby can survive its notoriously "decadent and depraved" infield, it can probably handle towing a boat or hauling topsoil. The three trucks, a Rebel, a 1500 Limited, and a dual-axle 3500 Limited will even be decked out in jockey-like styles. To help build up to its Derby involvement, Ram has released a first-person point-of-view video, just in case you've ever wondered what kind of view the jockeys have as they lap the one-mile dirt track. You can see that video below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.