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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 showcasing opulent Levante options in New York

Fiat Chrysler CEO Mike Manley said last year that it was a mistake to pair Maserati with Alfa Romeo because it suggested Maserati was a mass-market brand. Now on its own, this year the house of the trident begins to unfurl its luxury wings. The Ghibli, Quattroporte, and GranTurismo Convertible will be on hand, but focus rests on the Levante SUV for the New York Auto Show. Maserati plans North American debuts of its One of One Customization Program and the brand-exclusive Pelletessuta interior designed by Ermenegildo Zegna. One of One ushers Maserati buyers into the same realm of possibilities that BMW's Individual or Porsche Exclusiv does for those German brands, the standard over the gateway reading, "Anything is Possible." Up to now, the GranTurismo - the carmaker's second-oldest offering - has offered the greatest range of customization. Yet those stock choices in hue and finish pale when compared to One of One's "thousands of interior and exterior options" wrought by "Italian artisanal craftsmanship." As Maserati did in Geneva when debuting the program, a celebrity will visit the New York show stand to take delivery of "their never seen before" One of One Levante GTS. The general population gets the keys to the One of One program "in the near future." The other show car will be a bronze Zegna Levante S Q4 GranSport with the new Pelletessuta woven Nappa leather interior. Said to be a lightweight material created by the Italian fashion house, both durable and comfortable, Pelletessuta will only be available in Maseratis. The carmaker seems to have done us a disservice by posting photos of the material in black, or perhaps they're trying to lure us to the show to see it for ourselves. The new leather won't be available in North America until spring of 2020, so if your mind had already begun considering a calico-cat-matched One of One interior in a Gattara-colored Ghibli, it's going to be a minute.

Maserati dubs new SUV Levante, new sedan to resurrect Ghibli moniker

Building on the introduction of the GranCabrio MC that debuted at the Paris Motor Show, Maserati is planning three new models over the next couple of year in an attempt to raise sales to 50,000 units annually by 2015. While we think that that is a pretty lofty goal for a boutique automaker, redesigning its flagship sedan and adding two all-new models in popular segments sounds like a great plan of attack
The first new car we'll see from the Italian automaker is the next generation of the Quattroporte which will be a fitting way to celebrate the car's golden anniversary. We've already seen spy pictures of the new Quattroporte testing as well as a series of patent drawings that reportedly show the car's basic lines. Expect the new Quattroporte out sometime next year with a possible launch at the Detroit Auto Show.
Following the new Quattroporte, we'll finally get to climb behind the wheel of a Maserati SUV... just not the Kubang. Maserati confirmed that its new utility vehicle, based on the Jeep Grand Cherokee, will in fact be named the Levante. We already knew that Maserati would definitely not be using the odd Kubang name after this year, but if the Levante name sounds familiar, it's because we previously reported that this name would be used on a sedan slotting in below the Quattroporte.