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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.

Maserati's first electric car won't be a Tesla rival

Italian supercar makers haven't exactly embraced electric vehicles with gusto (the LaFerrari hybrid is about as close as you get), but that should change in the next few years. Ferrari's sibling brand Maserati tells Car and Driver that it's working on an electric vehicle that would be shown before 2020. And unlike other luxury car brands, Maserati doesn't plan on eating Tesla's lunch. It has to produce something "very different" to stand out, the company's Roberto Fedeli says. Think of something more like the GranTurismo coupe (see above) than yet another upscale sedan. Part of the challenge, Fedeli claims, is making a green machine that's exciting to drive. Breakneck acceleration is the only really thrilling aspect of EVs right now, he says – the sheer weight of those lithium-ion batteries dampens the enjoyment on twisty roads. A Maserati would have to be lighter on its feet. Also, the automaker will have to find a way to give its car character without a roaring gas engine under the hood. In that sense, Maserati's 2020 goal is realistic. It may not have much choice but to wait for battery technology to catch up to its ambitions. Related Video: This article by Jon Fingas originally ran on Engadget, the definitive guide to this connected life. News Source: Car and Driver Green Maserati Tesla Coupe Electric Luxury Performance

2023 Maserati MC20 Road Test: Distinctly Maserati, and better for it

It’s not the quickest to 60 or the flashiest of the bunch, but the Maserati MC20 is a brilliant mid-engine supercar. It also seemingly appeared overnight. One day, Maserati was making subpar luxury sedans, and the next itÂ’s producing a carbon-tubbed supercar with a bespoke engine and looks thatÂ’ll have you going, what the hell is that? But in a good way. Seriously, if an award existed for “most improved” in the automotive industry, Maserati deserves to take home the prize this year. From the MC20 to the hot-selling Grecale, this isnÂ’t the Maserati weÂ’ve known and chided for the better part of this century. ItÂ’s all the more impressive that Maserati is finally catching its stride at the same time Ferrari engines are falling away from its lineup, particularly because the presence of those Maranello-designed engines was the biggest draw to driving home a car with the trident in its grille. Forget about Ferrari, though, because the Maserati MC20 is a great supercar because itÂ’s a Maserati. Let your butt fall into the reasonably-bolstered (but not too crazy) all-Alcantara seat, swivel your legs in over top of the exposed carbon sill, and breathe a deep breath of relaxation. Sure, it takes a tiny bit of contorting to get in, but the cabin is downright plush for being an honest-to-goodness supercar. Give the butterfly door a firm yank downward into place, but make sure to admire the perforated and patterned Alcantara as you do, because itÂ’s just one of many hints at the MC20Â’s quiet luxury. ItÂ’s refreshing to take in the interiorÂ’s surroundings, because while storage may be at a premium, most of the controls and trimmings are easily describable as normal or even ergonomic. The steering wheel buttons look lifted straight off an Alfa and are instantly natural to operate. Your phone will find a perfect resting place in the very secure and well-integrated wireless phone charger in the carÂ’s central tunnel. The wheel-mounted drive mode selector is a chip off AlfaÂ’s “DNA” mode selector, but itÂ’s in the perfect spot to effortlessly change the carÂ’s character in an instant. Even the armrests on both the center console and doors are well-judged to keep you relaxed and well-supported no matter how long the drive. Add to all this the Uconnect 5 infotainment system that is dirt-easy to operate, including with wireless Apple CarPlay/Android Auto, and youÂ’re left with a supercar that doesnÂ’t make being in it or driving it a chore.