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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.

Mopar '15 performance kit now available for Dodge Charger R/T

Dodge is releasing a new Mopar performance kit for the 2015 Charger R/T sedan, offering up just 50 examples of the dealer-installed upgrade package. Only a select few dealers will sell the kit, and they'll do so at a price of $3,550. As per usual, the Mopar kit makes both performance and aesthetic changes. For the 5.7-liter Hemi V8, upgrades include the Stage 1 Scat Pack kit, which adds a cat-back exhaust and cold-air intake, good for 18 additional horsepower and 18 more pound-feet of torque. There's also a new strut tower brace and a "premium fuel powertrain control module." Aesthetic changes are remarkably simple, with matte black body-side decals being the only notable addition to the exterior. In the cabin, there's a serialized dash plaque and new door sill plates. This is the sixth Mopar special edition since 2009. If you wish to join this fairly exclusive fraternity of Dodge owners, dealers are currently accepting orders, with deliveries slated to start later this month. Scroll down for the official press release from Dodge. PERFORMANCE IN A BOX: MOPAR '15 PERFORMANCE KIT LAUNCHES FOR 2015 DODGE CHARGER R/T Owners of 2015 Dodge Charger R/T can enhance their ride with a Mopar '15 performance kit 50 limited-edition Mopar '15 performance kits now available through authorized dealerships for an MSRP of $3,550 Mopar '15 follows the success of five special-edition vehicle packages offered by the FCA brand since 2009 Delivery of Mopar '15 performance kits to begin in early June June 8, 2015 , Auburn Hills, Mich. - Mopar enthusiasts that feel the need to enhance the look and performance of their new 2015 Dodge Charger R/T can now do exactly that with a new Mopar '15 performance kit. With just 50 units available, authorized dealerships are now accepting orders for the limited-edition Mopar '15 kits for an MSRP of $3,550 with delivery to begin in early June. "Mopar has a long history of delivering to enthusiasts performance and customization in unique and convenient packages," said Pietro Gorlier, President and CEO — Mopar Brand Service, Parts and Customer Care, FCA. "We are now shifting into another gear and offering a limited-edition kit that will allow customers to really enhance the performance and look of their Dodge Charger R/T." The Mopar '15 kit is a street-legal performance package that includes the Scat Pack Performance Stage Kit 1, as well as a front strut tower brace with caps and bright pedal kit.

NHTSA investigates FCA for SUVs that roll out of Park

The National Highway Traffic Safety Administration is opening a preliminary evaluation into the 2014 Dodge Durango and 2014-205 Jeep Grand Cherokee after 14 complaints of the SUVs rolling out of Park. An estimated 408,000 of them could be affected, if a recall is necessary. All of the current complaints submitted to NHTSA about the issue concern the Grand Cherokee, and the claims allege that the SUV can roll out of Park whether or not the engine is running. Some folks report that they check the indicator each time because the gear sometimes fails to engage. Among the 14 cases, there are five accounts of crashes and three injuries, including a situation with someone allegedly being rolled over. NHTSA's preliminary evaluations are meant to investigate "the scope, frequency, and safety-related consequence" of a reported problem. They don't necessarily lead to a recall. Related Video: INVESTIGATION Subject : Unattended vehicle rollaway Date Investigation Opened: AUG 20, 2015 Date Investigation Closed: Open NHTSA Action Number: PE15030 Component(s): POWER TRAIN All Products Associated with this Investigation Vehicle Make Model Model Year(s) DODGE DURANGO 2014 JEEP GRAND CHEROKEE 2014-2015 Details Manufacturer: Chrysler (FCA US LLC) SUMMARY: The Office of Defects Investigation (ODI) has received 14 complaints (VOQs) alleging that after being placed in Park the subject vehicles have then rolled away from their parked position. The unintended motion has occurred with both the engine off and the engine running. ODI has also identified EWR field report data related to the alleged defect. The model year 2014 and 2015 Jeep Grand Cherokee vehicles are equipped with an electronic gear selector (shift-by-wire system). The gear selection is made by pressing the shifter-paddle forward or backwards; the shifter does not move along a gate path as with conventional gear selectors. A Preliminary Evaluation has been opened to asses the scope, frequency, and safety-related consequence of the alleged defect. The VOQs associated with the opening of this investigation are: 10733158, 10730952, 10683556, 10679497, 10583366, 10725429, 10715401, 10711893, 10676998, 10668651, 10662619, 10662308, 10605865, and 10567538.