Stellantis will "shut down" or sell brands that don't make enough money

Stellantis could sell off underperforming brands, boss Carlos Tavares warned, after the automotive powerhouse posted heavily downturned profits for the first half of the year. "If they don't make money, we will shut them down. We cannot afford to have brands that do not make money," he told reporters. Profits for the parent company of Peugeot, Vauxhall, Fiat and others slumped 48% year on year in the first six months of 2024, to €5.6 billion (£4.7bn). Related articles Tavares’s warning will have been heard loudly by Maserati bosses, after the brand reported an €82 million (£69m) adjusted operating loss.