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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 updates Quattroporte, Ghibli for 2015 at LA Auto Show

Maserati won't be showcasing any all-new products at the Los Angeles Auto Show this year, but that doesn't mean it doesn't have anything to celebrate. It is, after all, the marque's centenary this year, and in 2014 has achieved the best sales it's ever racked up in the US market.
The most noteworthy Trident model to be displayed in LA next week will be the revised Quattroporte, the S Q4 and GTS trims of which are treated to some enhancements for the 2015 model year. The top-spec Quattroporte GTS in particular "benefits from a sportier and aggressive appearance," highlighted by color-matched lower bodywork, an updated emblem, red accents on the wheels and upgraded equipment inside, including red leather upholstery, contrast stitching, piano black trim and integrated wifi.
For 2015, the smaller Ghibli sedan also gets standard navigation and Bluetooth connectivity, as well as a new finish for the brake calipers. Maserati will also showcase the GranTurismo MC Centennial Editions, as well as the Alfieri concept originally unveiled at the Geneva Motor Show (new images of which we've included below). Finally, the Petersen Automotive Museum is also collaborating with the Italian automaker to display an array of historic Maseratis in the West Hall lobby of the Los Angeles Convention Center.

2014 Maserati Ghibli

Italy Passionately Returns To The Sport Sedan Game
In its 99-year history, Maserati has arguably never made a vehicle as important as this all-new Ghibli.
Of course, there have been countless styling breakthroughs, mechanical advances and technical innovations, but no single passenger car has been required to bear the weight of the Italian company like its brand-new sport sedan. If the Ghibli succeeds, Maserati will welcome tens of thousands of new customers and, most importantly, celebrate a rekindled relationship with demanding North American buyers. If the Ghibli fails - well, the truth is, nobody has written an option for failure.