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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.

The troubled Alfa Romeo Giulia needs serious help [UPDATE]

UPDATE: An Alfa Romeo US spokesman responded to this article with the following statement: The safety concerns expressed in the story are false. The all-new 2017 Alfa Romeo Giulia is designed and engineered to meet or exceed all federal safety regulations. The Alfa Romeo Giulia will begin production for the North American market in the late second-quarter of this year. Alfa Romeo will have a full product portfolio of premium vehicles that includes plans for (8) all-new Alfa Romeo vehicles by 2020. The product launches are prioritized by segment volumes starting this year with the Alfa Romeo Giulia production for North America starting in late Q2, followed by the Midsize-UV – the 2nd largest premium segment in North America. Even on the day you dragged them kicking and screaming and gesticulating wildly to a table full of concrete evidence, Alfa Romeo executives will never admit the Giulia program is going through a tough patch. But it is. Reports say the Giulia, on the eve of production, didn't just fail one internal crash test, but failed the front, side and rear impact tests. Alfa denies it. Automotive News published a report last week saying two suppliers had insisted the Giulia, on the eve of production, didn't just fail one internal crash test, but failed the front-, side-, and rear-impact tests. A third supplier source told us the same thing. Alfa is denying it. It was due on sale in Europe late last year and was supposed to be here in the next month or two. But it wasn't, and it won't. It was to be headlined by a twin-turbo V6 that reportedly howled its way around the Nurburgring 14 seconds faster than the BMW M3 could manage. That second part is only true if you believe it's fair to compare a full lap in a standard BMW M3 with a favorable accumulation of sector times to a development prototype Giulia with 220 pounds stripped out of it and rolling on hand-cut racing slicks. No, me neither. A Promising Start The Giulia's all-new architecture was developed in just two years by a skunkworks of young engineers headed by Fiat's engineering prince, Philippe Krief, and (bafflingly) sited inside Maserati's headquarters complex in Modena, about three hours from Alfa Romeo's own Turin HQ.

Rich kid uses puppy to polish Maserati as Internet howls

Update: The original Instagram video appears to have been removed, but the video can still be viewed at this link. One of the Rich Kids of Instagram may never attempt to perform manual labor again after the 2-3 seconds she spent using a puppy to "polish" a rare Maserati. She cast it as a joke, but the Internet wasn't laughing. Instagram user m666ya, who is said to be a young, beautiful, wealthy collector of supercars in London - or, she at least has enough access to photograph them and occasionally show herself behind the wheel of one - posted this clip of an extremely cute puppy detailing a limited-edition Maserati MC12, which sells for $1.5 million or $2 million (depending on who's doing the telling). It got picked up on the Rich Kids account two days ago: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The Maltese puppy is compliant and seems, well, maybe not in distress but probably not having the time of its life, either. And m66ya or whoever is doing the buffing keeps it exceedingly brief. Some of the reaction has been predictable. The New York Post tabloid called her "barking mad." And social-media reactions to the post were similar: "Not funny." "Animal abuse." "Disgusting." "This is just wrong." "Shame on you." "This is actually sickening." "Money can't buy you class and in your case, values." "Dogs are so loyal and only want to love and please their owner. You do not deserve any devotion of love from this innocent puppy." "Psychologists will tell you, simple abuse of animals often leads to abuse of humans in later life. Seek some help now." A few commenters defend the clip and suggest people lighten up. Some doubled down on the joke: "It's better to use a cat so you can hear your engine purr." A blogger joked you'd never actually use a dog to polish a $2 million car because dirt in its hair could scratch the paint. And one young philosopher of Instagram, whose spelling is too poor to quote him directly, makes the fair point that perhaps some people are less angry about the dog than they are jealous that these ne'er-do-wells are rich. A spokeswoman for the Royal Society for the Prevention of Cruelty to Animals said: "We can understand why people are concerned about this video.