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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.

Dodge Challenger returns to Trans Am

NASCAR's Nationwide Series may have switched (in appearance anyway) to muscle cars, but American racing fans know that if they want to see real muscle cars on the street circuits, the only place to look is Trans Am. The all-American racing series is packed with Mustangs, Camaros and even Corvettes. The one thing it's been missing is the Dodge Challenger, but now SRT Motorsports has announced it's bringing its muscle car back where it belongs.
Rather than waiting until next year, the Miller Racing team is switching mid-season to the new Dodge Challenger SRT Trans Am racer you see here, just in time for this weekend's race at Mid-Ohio. And not just that - it's lined up a compelling pair of drivers to pilot it, as well.
The No. 11 car will be driven by Trans Am legend Tommy Kendall, a four-time series champion who's been off the grid since 2004. Backing him up in the No. 1 Challenger will be none other than Cameron Lawrence, the driver who has won five out of six races in the Chevy Camaro so far this season, losing out only once to American racing scion Adam Andretti.

Jay Leno gets his denim mitts on Dodge's new Challenger Hellcat

The 2015 Dodge Challenger SRT Hellcat is definitely the performance car of the moment. The fact that in the near future, people will be able to buy a 707-horsepower muscle machine straight from a major automaker for $59,995 and with a factory warranty almost seems absurd. We drove it recently and found the Hellcat to be just as much of a beast as its numbers would suggest. Now, it's a certain comedian's turn behind the wheel in the latest episode of Jay Leno's Garage.
This week's guest is Dodge President and CEO Tim Kuniskis, and he's there to drop all sorts of interesting factoids about the Hellcat. For example, its Pirelli P Zero tires retail at around $300 each, he says. That makes its smoky burnouts a rather expensive proposition. Kuniskis, who recently hinted at a mystery Woodward Dream Cruise debut, also talks about the genesis of the 2015 SRT project with a goal to get over some of the standard Challenger's weight and size disadvantages. The fix is a supercharged V8, massive brakes and other goodies to smooth over the platform's more glaring shortcomings.
Leno appears to get a big kick out of the Hellcat. However, he can't seem to stop bringing up his desire to drive one with a six-speed manual. They obviously exist, but Kuniskis has an eight-speed automatic for the retired Tonight Show host to try out. Of course, as with any Hellcat video, there has to be at least one burnout. Despite the expensive tires, it seems like enthusiast's law at this point - and dear ol' Jay wouldn't want to break any rules, would he?