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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.

2014 Jeep Cherokee flaunts its new contemporary curves

Only slightly more than one month ago, undisguised (and less-than-flattering) shots of the all-new 2014 Jeep Cherokee were leaked online. Later that day, in an effort to suppress the uprising, Jeep countered with its own official photography offering us much clearer front and three-quarter views. We've been left to digest those pictures for weeks.
Now, mere hours before the fabric comes sliding off its newest mid-size sport-utility at its live reveal at the New York Auto Show, Jeep has released dozens of new images showing all four corners, plus a few interior shots, of its new Cherokee.

Retro Review covers that Jeep Wrangler TJ you wanted in high school

The Jeep Wrangler TJ holds a dear place in my heart. When they were introduced, the return to circular headlights helped pull my dad into the dealer, and he bought one. A few years later, I learned how to drive a stick in that Jeep. Now, MotorWeek has fired up the time machine for a look at the '97 Wrangler as part of the Retro Review series. One of the great things about these videos is that they offer a chance to see if nostalgia lives up to reality. In this situation, that seems to be the mostly case. Even when new, MotorWeek finds a lot to praise about the TJ, especially in terms of handling and style. It's not all perfect, though, with a major complaint about the braking. Watch the clip to see if the show's take on the Wrangler lives up to your memories of them, too.