2009 Dodge Ram 1500 on 2040-cars

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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.

2016 Dodge Viper ACR racks up lap records

With 645 horsepower and an adjustable spoiler nearly six feet wide, the 2016 Dodge Viper ACR would look at home on the runways of most any airport, air base, or aircraft carrier in the world. But it's not built for the runway. It's built for the race track. And it has positively mastered them one after another. In fact, the new Viper ACR has not only beat the lap times of its own predecessor as it set out to, but took the production-car lap record at 13 tracks across the country. The endeavor started out at the Inde Motorsport Ranch in Arizona, where development engineer Chris "The Wolf" Winkler set a lap time of 1:33.75 on the Configuration 4 track to beat every other street-legal vehicle to ever lap the circuit. Then it was off to Buttonwillow, the MotorSport Ranch (in Cresson, TX), Big Willow, VIR, Grattan, Pittsburg, GingerMan, the Motown Mile, Nelson Ledges, Waterford Hills, and Road Atlanta. And with the new American Club Racer, Dodge took the lap record at each and every one. The journey culminated just days ago at Laguna Seca, where track expert Randy Pobst climbed into the Viper ACR and set a lap time of 1:28.65. That's 5.27 seconds faster than the previous ACR's time, and 1.24 seconds faster than the Porsche 918 Spyder that held the record until now. The sum total is a bragging-rights sheet of lap records set at 13 tracks across these United States. And you don't have to take Dodge's word on that. The records have been certified by the Sports Car Club of America (SCCA), cementing the ACR's place in the record books. Nice work if you can get it, and you can scope it out in the video above and press release below. Related Video: 2016 Dodge Viper ACR Is Undisputed Track Record King - Ultimate street-legal race car sets new high-performance benchmark with more track records than any production car in the world - Sports Car Club of America (SCCA) has certified lap records at 13 road courses, including world-famous Laguna Seca, Road Atlanta and Virginia International Raceway - With 645 horsepower and more torque than any naturally aspirated engine in a production car, the ACR is purpose built for weekend club racers who want the most extreme, but street-legal, track car available - Significant aerodynamic and suspension upgrades, new Carbon Ceramic brakes with six-piston calipers from Brembo and high-performance Kumho tires, specifically designed for the new 2016 ACR, set this Viper apart on any road course November 3, 2015, Auburn Hills, Mich.

Certain Chrysler owners eligible for buyback program

Certain car owners whose Chrysler vehicles contain dangerous defects will soon have a way to get rid of their lemons without losing money. As part of an agreement with federal regulators, Fiat Chrysler Automobiles has agreed to buy back more than 500,000 vehicles susceptible to veering out of control without warning at above market-value prices. The deal mainly covers certain models of RAM trucks, the Dodge Dakota pickup and Dodge Durango SUV. Further, owners of more than 1.5 million Jeep Liberty and Grand Cherokees at heightened risk for lethal fires are eligible to trade in their vehicles at above market value or, alternately, get a gift certificate if they prefer to have repairs made. Chrysler has "a heavy responsibility to make sure the products they make are safe for the traveling public," said Mark Rosekind, administrator of the National Highway Traffic Safety Administration. "... Here, we are sending an unambiguous signal to industry that if you skirt the laws or violate the law, or don't live up to the responsibility that consumers expect, we are going to penalize you." The buy-back and trade-in options for motorists come as part of an unprecedented penalty NHTSA slapped against Chrysler for violating federal motor-vehicle safety laws. Chrysler will pay a $105 million fine, the highest ever levied by the regulatory agency. In addition to the buy-backs, Chrysler also agreed to an independent monitor for three years. Investigators had outlined problems in the company's conduct in 23 recalls that affected more than 11 million defect vehicles. As part of a consent-order agreement, Chrysler acknowledged it did not notify vehicle owners of recalls in an effective manner and did not notify NHTSA of safety problems. Though those recalls affected millions of drivers, the buy-back and trade-in options are only for a small portion of the vehicles involved. Because Chrysler struggled to fix the problem and no repair was apparent, Rosekind said the buy-backs are reserved "for customers who didn't have a remedy." Buy-backs are for trucks and SUVs affected by three recalls that occurred in 2013 (recalls 13V-038, 13V-527 and 13V-529), that addressed a rear-axle pinion nut that could come loose and cause a loss of vehicle control. Those recalls covered 579,228 vehicles, including 2009-2012 Ram 1500, 2500, 3500, 4500 and 5500 trucks, 2009-2012 Dodge Dakotas, 2009 Chrysler Aspen and the 2009 Dodge Durango.