THREE beloved car brands could be ‘under threat’ as bosses warn ‘underperforming’ manufacturers could be ‘shut down’
A TRIO of beloved car brands are reportedly “under threat” after their parent company warned that “underperforming” manufacturers could be “shut down”.
The companies, which are owned by the world’s third-largest carmaker, have struggled for profitability in recent years despite their iconic status.
Stellantis owns some of the most famous car firms in the world, including Alfa Romeo, Citroen and Fiat.
It’s the second-largest automotive group in Europe behind VW and third in the world just under Toyota, with a raw revenue of over £141 billion.
However, some of the more niche members of the family have found it hard to achieve profitability in an increasingly competitive market.
Now, Stellantis CEO Carlos Tavares has indicated that “underperforming” brands could be spun off or “shut down”.
He told Bloomberg TV: “If they don’t make money, we will shut them down.
“We cannot afford to have brands that do not make money.
“The brands are here to be leveraged.
“If they are not able to monetise the value that they represent, then decisions will come.”
And according to Autocar, three firms in particular could be on the block.
Maserati, the only one for which Stellantis released figures, wound up with an operating loss of £69 million last year.
Based on that, the legendary sports car brand is reportedly being lined up for a potential sale.
Maserati was previously associated with Ferrari before it was bought out by Stellantis in 2021 but it is not yet known who potentially interested buyers could be.
Likewise, DS (the luxury arm of Citroen) and motorsport-icon-turned-EV brand Lancia are said to be in the firing line as they only make up a fraction of the group’s overall sales.
Stellantis has been contacted for comment.