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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.

Marchionne threatens to move Alfa production out of Italy

Fiat CEO Sergio Marchionne was unsurprisingly frank when asked by reporters about potential investments in Italian manufacturing for Alfa Romeo and Maserati, giving the Italian government the ultimatum, "Italy should decide if they want [Alfa Romeo's relaunch] to happen here or not as Fiat and Chrysler have several alternatives." Them's fightin' words.
Fiat's issue with the government stems directly from its courtroom clashes with the Fiom labor union. The two are currently embroiled in proceedings over longer shifts and shorter breaks, as Fiom has so far refused to sign a new contract citing revised labor laws that it says are anti-union.
According to Bloomberg, Fiat will be spending over $2.5 billion on development of eight new Alfas and six new Maseratis, in a bid to wrest some of the luxury pie away from BMW, Mercedes-Benz and Audi. But that's only going to happen if the government is willing to play ball and make life easier on Fiat.

2014 Maserati Ghibli prototype spied for the first time

Looking to better compete with mainstream luxury automakers, Maserati has already announced its plans for expanding its model lineup. Now, these spy shots give us our first look at a new, smaller sedan that resurrects the Maserati Ghibli nameplate. Seen for the first time as a prototype rather than a Quattroporte-based test-mule, this is the closest-to-production view of the upcoming Ghibli thus far.
Aside from its name, we don't know much about the 2014 Ghibli, but we do hear that this Maserati, like the upcoming Maserati Levante SUV, will have a direct lineage to a Chrysler product. While the Levante will be based on the Jeep Grand Cherokee, it sounds like the Ghibli could use the Chrysler 300 as its starting point. This means that the standard version of the car could get Chrysler's 3.6-liter Pentastar V6 - rumored to produce around 400 horsepower - paired with the latest eight-speed automatic transmission; sportier trim levels would almost certainly get a V8 from Ferrari rather than using the 300C's Hemi.
As for some of the details apparent in the spy photos, we can obviously see the size difference between these two cars when comparing previous spy shots of the newly released 2014 Quattroporte, which we drove last week. We also see that this car gets some performance-oriented, cross-drilled brake rotors, and based on the depth of the snow in which this car was caught testing, we also wouldn't rule out the use of all-wheel-drive on the Ghibli.