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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 unveils more details about US-spec Giulia

Last November, Alfa Romeo unveiled some of the tech specs about the 2017 Giulia in the US, but now the company has released even more details about the lower trims ahead of their upcoming appearance at the New York Auto Show. We still don't officially know their prices, but the Giulia arrives here in three trims: a standard model, the mid-range Giulia Ti, and the high-performance Giulia Quadrifoglio. The Giulia and Giulia Ti use a turbocharged 2.0-liter four-cylinder engine with 276 horsepower and 295 pound-feet of torque. Power routes through an eight-speed automatic to the rear wheels, and the sedans can reach 60 miles per hour in 5.5 seconds. The optional Q4 all-wheel drive system can send up to 60 percent of the torque to the front axle when necessary. However, there's no word yet how this layout affects performance. Even the lower rungs of the Giulia range have a sporty demeanor. Standard features include a seven-inch driver info display between the analog gauges, a flat-bottom steering wheel, and keyless start. Depending on model, they come with either a 6.5-inch or 8.8-inch widescreen infotainment system, which uses a rotary dial in the center console for the controls. There's also a huge range of customization, including optional Sport, Luxury, and Performance packages and 13 available exterior colors. The Quadrifoglio ups the performance ante with a 2.9-liter twin-turbo V6 boasting 505 hp and 443 lb-ft of torque, which rockets the sedan to 60 mph in 3.8 seconds. To maximize efficiency, the engine has stop-start and cylinder deactivation. Customers who want a little more can order optional carbon fiber shell Sparco seats, which Alfa claims are the lightest in the segment, and carbon-ceramic Brembo brakes.

New Forza 6 car pack will let you race the Pontiac Aztek

Just in time for this weekend's Rolex 24 Hours of Daytona, the new Alpinestars Car Pack for Forza Motorsport 6 on the Xbox One lets you slip into the driver's seat of last year's winner. If you want to take something much weirder for a spin, the collection also includes a 2005 Pontiac Aztek. The download is available now for $6.99. The Ford #02 Chip Ganassi Racing Riley Mk XXVI Daytona was in a four-car battle early in last year's race, but it eventually was victorious. Forza Motorsport 6 also challenges drivers who download the car to a new Rivals event around Daytona, and the fastest people could win Alpinestars prizes. If you're nostalgic for a classic Daytona racecar, this pack includes Mercury #15 Whistler Radar Cougar XR-7. The V8-powered beast won the IMSA GTO class in the 24-hour event in 1990. It should be fun around the game's longer road courses like Road Atlanta. This collection also has an eclectic mix of vehicles that aren't racecars. The controversial Aztek and the equally-controversial 1996 Subaru SVX take their places beside a lineup that offers drivers three eras of performance cars – a 1967 Sunbeam Tiger, 1974 Toyota Corolla SR5, and 1992 Alfa Romeo Milano Quadrifoglio Verde. The video below shows all of them in action. Race to the Finish Line with the Alpinestars Car Pack for Forza Motorsport 6 By Xbox Wire Staff posted on January 27, 2016 at 8:00 am With the racing season set to kick into full gear during this weekend's Rolex 24 Hours of Daytona race, Forza fans now have a chance to get their own taste of endurance racing glory with the Alpinestars Car Pack for Forza Motorsport 6, available on Thursday, Jan. 28. Leading off the pack of seven cars is last year's 24 Hours of Daytona winner, the 2015 Ford #02 Chip Ganassi Racing Riley Mk XXVI Daytona Prototype. The prototype will be fielded in this weekend's race, which begins at 2 p.m. EST on Saturday, Jan. 30 and can be viewed live on Fox Sports 1 in the U.S. The Alpinestars Car Pack features six additional cars, each with a unique pedigree all its own. From the 1990 Mercury #15 Whistler Radar Cougar XR-7 – also a competitor in Daytona 24 Hour events of years past – to the inimitable 2005 Pontiac Aztek (famous more for its fictional owner than its performance), this pack has something for every kind of car fan. Forza Motorsport 6 is the only game where players can drive last year's Rolex 24 Hours of Daytona winner on the recently remodeled Daytona International Speedway.