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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.

New Maserati Quattroporte revealed before Detroit debut

Well that didn't take long at all. Although we just saw spy shots of the new Maserati Quattroporte last week, Maserati has now taken the wraps off its redesigned sedan ahead of a confirmed Detroit Auto Show debut. Although no official details for the car were released just yet, we can infer quite a few changes just from the images. Celebrating 50 years of the Quattroporte, Maserati is referring to this new car as a 2013 model, but it will arrive next year for the 2014 model year in the US.
The overall exterior styling of the new Quattroporte hasn't evolved too far away from the current car. There is still the sloping hood, vented fenders and shapely body lines, but it also gets a much sleeker roofline and more steeply raked front glass. It also appears that the rear wheels no longer cut into the rear doors, suggesting a longer wheelbase. The biggest change made to the car's styling is found in the rear of the car where horizontal taillights and exhaust tip design now gives it a strong Mercedes-Benz E63 AMG vibe. Inside, the four-passenger sedan now gets a more stylish two-tier instrument panel, a larger touch-screen display on the center stack and what looks to be equally sized monitors for the rear-seat entertainment system.
Under the hood, we can definitely tell that the Quattroporte still uses a V8, but aside from the press release calling it an "all-new next generation powertrain," we don't have any real details of what powers the car. Or do we? The rear 3/4 image of the new design shows a license plate number of "QP 530 HP" possibly suggesting the engine's output has been raised to 530 horsepower up from the current 425. We are also expecting a supercharged V6 at some point down the line with an output of around 420 hp, and it is likely that both engines will be paired to eight-speed automatic transmissions.

Learn why this man has four different Maserati 3500GT classics

When you're born, it's impossible to know what sort of cars you'll be into as an adult. Your dad might be into old Mopars while your mom prefers a Ford Mustang. You, on the other hand, might end up being a fan of English cars (that was the case with your author, at least). Regardless of which vehicle type, era or marque you prefer, though, it's usually possible to trace back to the exact moment you fell in love with them.
For Frank Mandarano, his love of all things Maserati started at its birthplace in Italy, before spawning into a passion that saw him found a club and take possession of four 3500s over the years. One car in Mandrano's one-make collection stands out, though - a rare 3500GT that was imported into Mexico in 1960. It is a sweet sounding and gorgeous coupe to behold, making it the perfect subject for the crew at Petrolicious. Scroll down and have a look.