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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.

Second 'No Time To Die' trailer drops with lots of crunching metal

The second trailer for the new James Bond film, "No Time To Die," was posted to social media Thursday morning, getting us thoroughly hyped for the forthcoming installment thanks to some spicy car content and lots of other ridiculous, big-budget action sequences.  Fair warning for the purists: This might contain plot- and character-related information from the trailer itself. Also, it appears that many Land Rover Defenders died in the making of this film, so the footage may not be for the faint of heart; don't say we didn't give you advance notice.  As is typical of Bond films, most of the automotive eye candy is of the European variety. The classic Aston Martin DB5 gadget car (which we saw doing some crazy machine-gun donuts in the first trailer) makes yet another appearance, as does what appears to be fourth-generation Maserati Quattroporte. There's even something which might be a car, but also appears to be both some sort of airplane and submersible. Never change, Bond. We love it.  And then there are the Defenders. We've got Defenders speeding down hillsides, Defenders crashing through forests, Defenders flying over Land Cruisers. Yeah, do you like Land Cruisers? There's a Land Cruiser. It even (spoiler alert!) survives relatively unscathed; the same cannot be said for most of the automotive shenanigans we get to see here.  "No Time To Die" was originally slated to debut back in April, but its original release date roughly coincided with the projected peak of early coronavirus infections. Given how important the Bond film franchise's continued success is to MGM (it's virtually the only thing the studio has had going for it for 30 years) and the producers (who only make Bond films), meager box office returns were not an option. The last film, Spectre, pulled in the worldwide gross of $880 million, including $200 million in the United States and $83.5 million in China. The wait is almost over. "No Time to Die" will hit theaters Nov. 25 in the United States.  Related Video:

Mysterious Maserati test mule could be upcoming Alfa Romeo Giulia

Well well well, what have we here? The truth is that we don't know. It seems to be a Maserati Ghibli, but since that model is already out on the market, we're likely looking at something else. Just what is the question, and the answer likely lies in the wheelbase. While this test mule, spied undergoing cold-weather testing in northern Sweden, is clearly wearing the bodywork (and likely most of the mechanical bits) from the Ghibli, it's riding on a shortened wheelbase. Which tells us this could be one of two things: it's likely to be a test mule either for the upcoming Maserati Alfieri sports car, or for the new Alfa Romeo Giulia. The Alfieri was presented in concept form at the Geneva Motor Show back in March, foreshadowing a new sports car to serve as a halo model in the Maserati lineup. The production version is expected to be smaller and nimbler than the existing GranTurismo and positioned against the likes of the Porsche 911, Jaguar F-Type and Mercedes-AMG GT, to name just a few. The Giulia, meanwhile, is slated to be the first all-new Alfa Romeo since the arrival of the 4C last year and the Italian marque's first mainstream model since the launch of the Giulietta in 2010. The new sedan is expected to go after the likes of the BMW 3 Series and the new Jaguar XE, slotting in below the larger Maserati Ghibli that seeks to challenge the 5 Series and XF. If this is indeed a test mule for the new Alfa sedan, the quad tailpipes would seem, as our spy photographers point out, to indicate it's laying the groundwork for the GTA performance version. One way or another, there's something enticing to be coming soon from Italy, so watch this space.