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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.

2015 Jeep Renegade Trailhawk [w/video]

There are two avenues to the world of off-roading. Arguably the more popular is to pick up a second- or third-hand Jeep, Land Rover or pickup truck and go wild with the aftermarket. The opposite approach, though, is to simply buy new, which brings a warranty along with the most up-to-date off-road tech fitted by the factory (despite likely lacking the ultimate capability of an aftermarket-imbued vehicle). That second option has, traditionally, been pricey. Take our long-term Jeep Cherokee Trailhawk, which rings up at just over $38,000. A Ford F-150 SVT Raptor is going to be an even more expensive proposition, while the undisputed kings of luxury off-road performance from the factory – the Range Rover, Toyota Land Cruiser and Mercedes-Benz G-Wagen – will require ownership of a medium-sized oil well. With all due respect to those who take their Trail-Rated Jeep Patriot models off-road, the all-new Renegade Trailhawk is such an exciting proposition because it brings the cost of a warranty-backed off-roader down significantly, while also delivering a degree of trail-rated performance that should easily fulfill the needs of the average enthusiast. Drive Notes Before we get into what it adds, it's worth noting that the Trailhawk trim does have a small impact on the Renegade's on-road abilities. As we said in our original feature, the TH adds a significant amount of weight to the standard CUV, as it tips the scales at nearly 3,600 pounds. That mass, combined with the slightly higher stance, means the off-road model doesn't handle quite as well as a lesser Jeep. It also doesn't feel as fleet of foot, as it retains the same 2.4-liter, 180-horsepower four-cylinder and nine-speed automatic found throughout the Renegade range. Despite the downers, the Trailhawk trim does bring quite a lot to the Renegade package, most notably in the form of a bespoke version of Jeep's Active Drive all-wheel-drive system. The upgraded system features a dedicated 20:1 crawl ratio while the Selec-Terrain system is home to a new Rock setting. Beyond that, Jeep lifted the Renegade's ride height eight-tenths of an inch, increasing overall ground clearance to 8.7 inches and delivering 8.1 inches of wheel articulation. This is complemented by unique front- and rear-fascias, which up the approach and departure angles to 30.5 and 34.3 degrees, respectively, besting the Cherokee Trailhawk's 29.8 degrees and 32.1 degrees.

Jeep: Beautiful Lands

Jeep emphasized the global nature of its all-new Renegade in a 90-second spot during the 2015 Super Bowl. Starting out in America, and with This Land is Your Land playing in the background, the spot splices images of the all-new Renegade with scenery from across the United States. As a global product and the first Jeep built outside the US, though, the spot quickly moves beyond America's borders, showing Renegades, people and scenery from around the globe. As for the Renegade, you can read all about it in our First Drive.