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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.

Check out the Maserati Levante's not-finished interior

Maserati continues to develop the Levante luxury crossover years after previewing it as the Kubang concept, but new spy shots give us the best look yet at the interior of this long-awaited CUV. Our spies think we could finally see the production version as soon as the Geneva Motor Show in March. Look past the giant computer screen, keyboard, and rat's nest of wires to get an idea of what Maserati has in store for the Levante's wealthy occupants. The company fits the luxury crossover with thickly bolstered leather seats to hold front passengers tight, and the driver grips a three-spoke steering wheel. A piece of cloth partially covers the infotainment system, but its position echoes the one on the Ghibli. A wood-trimmed center console features several buttons, including a large control dial. This Levante's exterior camouflage and cladding hide a lot, but it's clear that the design sticks fairly close to last year's patent drawings. The big hump on the roof also can't hide the coupe-like arch that leads to the rear hatch. Maserati's crossover uses a tweaked version of the platform from the Ghibli and Quattroporte and likely shares their turbocharged V6 and V8 engines, too. The Italian company has high hopes that the Levante's mix of luxury and performance appeals to customers in the booming CUV segment because a success could turn around the brand's flagging sales. However, the vehicle needs to compete in a rapidly crowding market of high-priced entries that would soon include models like the Bentley Benayga, Lamborghini Urus, and Aston Martin DBX. Related Video:

Maserati Levante Hybrid gets four-cylinder and 48-volt technology

Maserati is keeping its promise of adding more electrified options to its lineup. Shortly after electrifying the Ghibli, it stuffed the turbo-electric powertrain in the Levante to create its second series-produced hybrid model. Presented at the 2021 Shanghai auto show, the Levante Hybrid is powered by a turbocharged, 2.0-liter four-cylinder engine that works with a 48-volt mild-hybrid system. The system's total output checks in at 330 horsepower and 332 pound-feet of torque, figures on par with the Ghibli Hybrid's, and it spins the four wheels via an eight-speed automatic transmission and a limited-slip rear differential. Maserati quotes a six-second sprint from zero to 60 mph, a number that puts the Hybrid about on par with the base model, and a top speed of over 150 mph. While the Levante's hybrid technology does not unlock electric-only driving range, it's much lighter than a comparable plug-in hybrid system, which would require a bigger and heavier battery pack. In turn, this solution gives the Hybrid better weight distribution than the V6-powered model. It's more agile to drive, according to Maserati. It takes a well-trained eye to tell the Levante Hybrid apart from the non-electrified model. Car-spotters should look for light blue accents on the fender-mounted air vents, on the brake calipers, and on the C-pillar emblems. Inside, the same shade of blue is found in the stitching that's on the seats, on the door panels, and on the dashboard. Maserati told Autoblog that, like the Ghibli Hybrid, the Levante Hybrid will not be sold in the United States. Sales in several overseas markets will start before the end of 2021, though pricing and availability haven't been announced yet. While we're not getting Maserati's first electrified SUV, it gives us a valuable look at how the Italian company plans to spread electrification across its range without completely neutering the DNA that characterizes it. That's significant insight, because one of the next electrified Maserati models will be a version of the MC12 supercar. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Maserati MC20 supercar plays in the snow