SO LONG, CHRYSLER? Stellantis ready to kill brands and fix U.S. problems, CEO Tavares says.

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.”

Tavares didn’t mention Chrysler by name but the brand’s entire lineup consists of Pacifica minivans and existing inventory of the 300 sedan, which ceased production late last year.