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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.

Alfa Romeo Disco Volante Spider is a beauty in blue

Be still our beating hearts. The beautiful blue sportscar you see above is the Alfa Romeo Disco Volante Spider. It's the latest work from Italian design house Carrozzeria Touring Superleggera, which is celebrating its 90th anniversary. As you can see, it's a work of art, but what you can't see is that, like the hardtop version that came before it, this car is actually based on the bones of an Alfa Romeo 8C Competizione. That means it's bound to be a rare beast, since only 500 8C coupes and 500 8C Spiders were ever built. Apparently, just seven of these droptops are planned, and each one will be painted in a different color. The hue we see on the car that's debuting at the 2016 Geneva Motor Show is called Blue Ceruleo, which we figure pretty much means Sky Blue. Here's hoping at least one comes in a green scheme similar to the one shown off at Geneva back in 2014. We don't have any details about what powers the Disco Volante Spider, but we'd guess it uses the same 4.7-liter V8 and six-speed semi-automatic transmission that powered all the original 8C models. That would mean 444 horsepower and 350 pound-feet of torque, a 0-60 run 4-ish seconds and a top speed of around 180 miles per hour. But the actual performance seems mostly superfluous to the Disco Volante Spider's real mission, which is to look pretty. You'll want to check out our image gallery for more close-up shots. And if you just can't get enough, it seems that someone with early access to the show floor in Geneva smuggled in a camera. Check out the video above. Related Video: Related Gallery Alfa Romeo Disco Volante Spider by Carrozzeria Touring Superleggera View 17 Photos News Source: SellerieCimes via YouTube Design/Style Geneva Motor Show Alfa Romeo Convertible Luxury Special and Limited Editions Performance 2016 geneva motor show carrozzeria touring superleggera

‘Yee haw’ in Italian - Alfa Romeo Giulia is the Car of Texas

You can't underestimate the visceral pull of the new Giulia Quadrifoglio's 505 horsepower wrapped in Alfa Romeo's sweet, seductive sheetmetal. Autoblog said the hottest Giulia "puts some practical meat on the bone for American drivers bored of the usual Audi A4/Mercedes C-Class/ BMW 3 Series suspects." The Quadrifoglio delivers 60 mph in 3.8 seconds and laps the Nurburgring Nordschleife in just 7:32. This makes it - for the moment - the fastest four-passenger production car around the 12.9-mile circuit. Austin's Circuit of the Americas F1 venue isn't Germany's Nordschleife, but that's where the Texas Auto Writers Association gathered for its annual Spring Roundup - some 50 auto writers, broadcasters and bloggers evaluating 40-plus cars and crossovers in 11 categories, with best-of-class wins such as Performance Car of Texas, Family Car of Texas and – ultimately – best of show, the Car of Texas. In a vote as out of the blue as that one back in November, Giulia got the nod. When evaluating a Car of Texas at a track, the Giulia Quadrifoglio is a no-brainer. Beyond its brute power is a linear dynamic behind the wheel, even if the track's official road speed for this event was 60 miles per hour. Competing against it in the Performance Sedan category were the Dodge Charger R/T and SRT Hellcat, along with a Lexus GS F and VW Jetta GLI. Beyond its surfeit of power is the Giulia's raucous personality and – we'll admit – novelty. Many of the younger journalists at COTA had only vague memories of the brand. This was also, regrettably, a relatively weak grouping of performance machinery. The headliners – such as the Mercedes-AMG GT S and Nissan GT-R – were prominent, but cars most likely to be tagged a Car of Texas, such as a Shelby Mustang or hot Camaro, weren't. Ford brought only its Focus RS, and GM execs have deemed regional press events not worthy of their attention. Also, both BMW and Audi were no-shows, although – in defense of the Giulia – the M3 and Mercedes-AMG C63S were whipped by the Alfa in at least one recent hot sedan comparison. In short, Alfa swept a smallish field. But a win's a win, and every win bodes well for Alfa, even in a market where the first car is a truck, and the second car might be a second truck. Related Video: Auto News Alfa Romeo Ownership Luxury Performance Sedan no ribbon