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Stellantis ready to kill brands and fix U.S. problems, CEO Tavares says

Thu, Jul 25 2024

  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.

Barbie-themed Maserati Grecale Trofeo: Stick that in your dream house

Wed, Oct 26 2022

A new live-action Barbie movie is coming, which means brand collaborations across several industries. The car-crazy Barbie world is teaming up with Maserati and Neiman Marcus to create a one-off Grecale Trofeo SUV with so much pink that the Mary Kay paint factory may be running low for a while.  As a whole, the Barbie universe is incredibly car-friendly and has featured some iconic models over the years, including Corvettes, a 911, a Ferrari, and various Jeeps. Maserati’s hoping to get on that list with its new Grecale Trofeo SUV. The automaker partnered with Neiman Marcus on the car as part of its Fantasy Gift Launch and to celebrate the release of the new Barbie movie. Only one Grecale Trofeo will be available in the United States as part of the promotion (did they think that's all they could sell?). Like other Trofeos, it uses the 530-horsepower V6 Nettuno engine from the MC20 and features the classic Barbie pink exterior colors. Logos and other graphics accent the loud exterior color. Inside, the black interior features full leather upholstery and leather covering the dash, doors, and other components. The seats feature pink “B” stitching. Maserati and Neiman Marcus estimate the value of the SUV at $330,000. Ten percent of the sales will go to the Barbie Dream Gap Project, so this is more than a vanity project for Maserati and the department store chain. We donÂ’t know much about the other cars that will make appearances in Margo RobbieÂ’s upcoming Barbie remix, but the movieÂ’s teaser poster shows her driving a C1 Corvette with what appears to be a charging port door. An electrified first-generation Corvette would make waves, but even something as unique as that will have a hard time competing with the Grecale for attention. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

2015 Maserati Quattroporte gets the lightest possible updates

Wed, 19 Nov 2014

A week after its debut on the interwebs, Maserati has trotted out its freshened Quattroporte range at the LA Auto Show, giving us our first in-person look at the changes to the top-of-the-line GTS trim.
Maserati has tweaked the headlights across the range, while the GTS gains new body-color trim pieces on the lower bodywork. Red badging on the wheelcaps and and a freshened trident badge are some of the more obvious changes, while new lower bodywork is matched to the main exterior color. While these tweaks are nice, we aren't totally sure they deliver on the "sportier and aggressive appearance" that the Italian company is aiming for in model year 2015.
What do you think? Could Maserati have stood to go further for the 2015 Quattroporte, or is this sort of super-light freshening just what the doctor ordered? Let us know what you think in Comments.