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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.

Small number of 2013 Chrysler 200 and Dodge Avenger models recalled

A small number of units of the 2013 Chrysler 200 (inset) and 2013 Dodge Avenger are being recalled over a broken control valve in the fuel tank assembly. The potential 1,785 sedans were manufactured late last year, and if affected with a broken control valve could suffer from stalling or fuel leakage.
A bulletin from the National Highway Traffic Safety Administration notes that the recall should begin next month, at which time owners can take their cars to dealers for repair free of charge. The full release with more information is just below.

Florida Highway Patrolman seen watching YouTube in traffic

The Florida Highway Patrol is investigating allegations of a trooper watching YouTube videos on his official in-car laptop while driving. Lee County Florida resident James Peebles caught the alleged offender during his morning commute in early April, NBC2 reported. After exiting I-75, Peebles said that the FHP cruiser rolled up next to him at a stop light where he could clearly see the trooper inside watching a car race on Youtube on an official FHP laptop. Peebles put his car in park and snapped a picture of the cruiser before continuing to work. Later that day, he posted the photo to Facebook where it quickly went viral. "It blew my mind," Peebles told NBC2. "Everybody's human though, so I do know that we all make mistakes." NBC2 contacted the FHP for a statement after speaking to Peebles. An FHP spokesperson told the station that troopers are allowed to use their laptops while driving squad cars when carrying out official duties such as "simple inquiries" and "reviewing the nature of incoming messages". Other Florida motorists, like Jim Kosmerick who was interviewed by NBC2 for this story, don't consider watching an old race on YouTube to be official FHP business. "It's not official business, there's no way you can convince me otherwise," said Kosmerick. The FHP says that they are now aware of this fast moving viral image, and that they are taking the issue very seriously. They state that an investigation into the matter is underway, and that troopers are expected to abide by department policy and lead by example. Related Video News Source: NBC2 Government/Legal Weird Car News Dodge Driving Safety Police/Emergency Videos Sedan distracted driving Dodge Charger Pursuit