Stellantis Revives SRT Performance Division Under Tim Kuniskis
Stellantishas officially revived its iconic Street and Racing Technology (SRT) division, appointing Tim Kuniskis to lead the reborn performance arm while also taking on a newly created role overseeing American brands and North America marketing and retail strategy. Kuniskis will retain his position as CEO ofRam, and continue shaping the performance future ofChrysler,Dodge,Jeep, and Ram.
The return of SRT signals a renewed focus on high-performance engineering across Stellantis' American brands. 'We're getting the band back together,' said Kuniskis, who emphasized assembling top talent in powertrain and vehicle dynamics to deliver the kind of power, handling and innovation that defines the SRT name.
The division will also oversee Direct Connection, North American motorsports efforts and initiatives like Ram's return to the NASCAR Truck Series in 2026. With this move, Stellantis aims to unify its performance strategy and reignite enthusiasm among loyal fans. According to Stellantis COO Antonio Filosa, the company is counting on Kuniskis' 'strategic mindset and competitive spirit' to build deeper connections with customers through bold performance products and experiences.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hamilton Spectator
an hour ago
- Hamilton Spectator
What if killing Canada's digital services tax is just the beginning for Donald Trump?
OTTAWA—Call it a prudent climbdown, a show of weakness, or an unavoidable concession. There are several ways to look at Prime Minister Mark Carney's 11th-hour decision to cancel the federal government's Digital Services Tax last weekend. But what if it's also a tangible example of exactly what Carney warned would happen? The Liberal leader won a minority government on April 28 with a pitch that no one was better placed than himself to protect Canada from Donald Trump. The U.S. president has mused about using 'economic force' to annex Canada. As if taunting or teasing this country, he questions why it exists, and keeps floating the prospect of it becoming the '51st state' of the U.S. Two days before the election, Carney spelled out how he understood all of this. 'The U.S. is trying to put economic pressure on us to gain major concessions, to the extreme of a level of integration of our countries that would impinge our sovereignty,' Carney said that day in King City, north of Toronto. Carney, in his final campaign conference, ruled out any prospect the U.S. would use military Flash forward to last week. There was Trump, posting on social media that Canada's incoming Digital Services Tax — a policy that would force American tech giants and other firms, including Canadian ones, to pay up — was nothing short of a 'blatant attack' on the United States. Trump declared he had cut off all negotiations to resolve the trade war that started earlier this year with his wave of tariffs on Canadian goods. In other words, Canada's most important commercial and military partner, the destination for 76 per cent of all exports last year , was willing to ditch talks and dictate terms that could jeopardize thousands of jobs and hundreds of billions of dollars in economic activity. All over a domestic policy the Americans didn't like. Barely 48 hours later, shortly before midnight on a Sunday, the government announced the tax was dead. Not only would Canada not implement the policy as planned, it would repeal the 2024 law that created it. Is this Trump using economic pressure to force Canada's hand? 'It is exactly that,' said Lawrence Herman, a veteran trade lawyer and special counsel with the firm, Cassidy Levy Kent. 'It's an example of, on a particular issue, how much pressure can be brought to bear to force Canada to abandon not only a policy, but a law that has been in force for 18 months.' In Herman's view, the decision looks like a 'significant retreat' by the government, which shows 'how dependent we are on a reasonable relationship' with Canada's largest trading partner. Other policies that Trump has complained about, such as the supply management system for dairy and poultry, could be next, he said. Pete Hoekstra, the U.S. ambassador to Canada, told the CBC this week that he has a 'strong belief' Canada could water down that system by changing a law designed to protect it if that becomes part of a new trade deal. 'It's not a particularly good start to this so-called new economic and security relationship,' Herman said. He was referring to Carney's stated goal of talks that are now continuing under an agreement struck at the Group of 7 summit in the Alberta Rockies last month to strive for a deal to redefine the relationship by July 21. Others have been harsher in their judgment. Lloyd Axworthy, a former Liberal foreign affairs minister, posted online that Carney was acquiescing to Trump in a way that contradicts his 'elbows up' mantra on the campaign trail. 'Forget any dreams of a more sovereign, self-directed Canada. We're doubling down on the corporate cosiness and U.S. dependency that's defined our last half-century,' he wrote on Substack. Axworthy did not respond to an interview request Thursday. For Jean Charest, a former Quebec premier who sits on the government's Canada-U.S. advisory council, the situation illustrates the 'chaos' of dealing with Trump, whose administration is grappling with trade talks and tariffs threats against most countries on the planet. This meant that Carney's government was operating 'in a world of very bad choices,' Charest said. Deciding to scrap the Digital Services Tax, in that context, was 'certainly a legitimate choice,' he said. 'We are not in an ordinary world of negotiations,' Charest added. 'It would be nice to think, 'You give, I give ... we compromise.' It doesn't work that way with Donald Trump, and we're making our way through this by trying to protect essentially what's the most important for us in the short term, and that's a negotiation that has some legs.' Charest noted that there was opposition inside Canada to the Digital Services Tax, which would have applied back to 2022 with a three per cent tax on Canadian revenues from digital services companies with more than $1.1 billion in global earnings and $20 million inside Canada. The U.S. also pushed back against the policy when Joe Biden was in power. David Pierce, vice-president of government relations with the Canadian Chamber of Commerce, said his business lobby group felt the Digital Services Tax should be paused. He also said it would have been wrong to proceed with it after the U.S. dropped a controversial provision from Trump's major budget bill last week: the so-called 'revenge tax' that would have hit the U.S. assets of foreign businesses and individuals. That decision came as the G7 agreed to exempt American firms from a co-ordinated effort to ensure corporations pay a minimum tax, which was 'absolutely a win' for the U.S. Even so, Pierce said Canada likely had no choice but to drop the policy, given Trump's exploitation of Canada's 'weakness' — its major economic reliance on trade with the U.S. 'We just hope that this now paves the way for a good renewed deal,' said Pierce. The ultimate goal of the federal government in that deal, at least publicly, has been to return to the terms of the Canada-United States-Mexico Agreement (CUSMA), which Trump signed in 2018 during his first term, after disparaging North American free trade as unfair to his country. That would mean lifting the rounds of tariffs Trump has imposed since the winter, with import duties tied to concerns about drugs and migration over the border, and others that Trump slapped on Canadian autos, steel and aluminum in a bid to promote those sectors in the U.S. Canada has responded with countertariffs on its own that the government says hit more than $80 billion worth of American imports to Canada. Canada's lead trade negotiator with the Trump administration, Ambassador Kirsten Hillman, was not available for an interview this week, the embassy in Washington told the Star. Charest, however, said he believes it is possible that Canada could accept some level of tariffs in a July 21 deal, so long as they have no material effect. Such 'zero-effect' tariffs could only kick in at levels of trade that Canada doesn't or likely won't achieve, for example. Yet there's a question of how much any deal can be relied upon, so long as Trump is in the White House, unilaterally imposing tariffs that Canada views as 'illegal' violations of the 2018 trade deal. 'Trump is arguing about supply management and the (Digital Services Tax), but it's the U.S. that is in flagrant breach of its trade obligations. It's abandoned the CUSMA, virtually behaving as if it did not exist and the U.S. signature has no meaning,' Herman said. 'So we are in a world where rules and the rules-based system, and the stability that that treaty was supposed to provide, have gone by the board.' That means, at least for now, the Carney government is operating in a world where Canada's foremost ally, the colossus to the south, will use economic force to get what it wants.
Business Insider
3 hours ago
- Business Insider
How Trump's Megabill Affects Your Taxes
On Thursday, the House voted 218-214 in favor of passing President Trump's bill. Today, Trump will hold a bill signing ceremony at 5 p.m. Eastern Time to sign the bill into law. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Of course, the topic that many American citizens are concerned about is the tax implications of the bill. Let's dive in. First, the standard deduction will increase to $15,750 from $15,000 for single filers and $31,500 from $30,000 for married couples filing jointly. Next, the maximum state and local tax (SALT) deduction will rise to $40,000 from $10,000. It will increase by 1% through 2029 before reverting to $10,000 in 2030. However, all filers making more than $500,000 per year will be subject to SALT deduction phase-outs. The deduction only applies to people who choose to file an itemized tax return. Specific Tax Breaks from Trump's Megabill Parents will benefit from the bill, as the child tax credit will increase by 10% to $2,200 from $2,000 beginning next year. Workers who receive tips will be able to deduct up to $25,000 of tip money from their taxes. The deduction is lower for workers making more than $150,000. Overtime workers will receive a maximum overtime pay deduction of $12,500 for single filers making up to $150,000 and $25,000 for married couples. The new policies for tip and overtime workers only apply on a federal level and not on a state level; they will be in effect from 2025 to 2028. For car buyers, the $7,500 electric vehicle tax credit for new vehicles and $4,000 tax credit for used EVs will expire on September 30. At the same time, taxpayers will be able to deduct up to $10,000 in auto loan interest payments from their taxable income if the purchased vehicle is made in the U.S. The deduction decreases for those with an income above $100,000. Finally, people above the age of 65 making $75,000 or less will be able to deduct $6,000 from their taxable income. Married seniors making $150,000 or less will be able to do the same.
Business Insider
3 hours ago
- Business Insider
LMT, NOC, GD: Top Defense Stocks to Watch This Independence Day
On the dawn of American Independence Day, it is only fitting that investors consider researching the potential of the defense sector. Companies in this industry often attract attention due to their alignment with national security priorities and ongoing government spending. The defense sector has gained paramount importance in recent years, especially in light of the prolonged conflicts between nations. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. During the recent NATO summit, members agreed to a new target of spending 5% of GDP on defense within the next decade, up from the previous 2% guideline. This increased budget is expected to benefit defense stocks, making them even more attractive to investors. It is evident that the U.S. plays a crucial role in today's war-torn world, and its defense companies garner significant attention for their advanced technology and strong performance. With this backdrop in mind, let's look at three American defense companies that have been major contributors to the U.S. defense sector and continue to demonstrate considerable strength. Lockheed Martin (LMT) Lockheed Martin is indeed one of the largest defense contractors globally. It serves as a major supplier to government agencies, including NASA. The company manufactures a wide array of products, such as missiles, targeting systems, military helicopters, and mission systems for various vehicles. The company's massive, long-term government contracts ensure a source of consistent and recurring revenue. For reference, LMT was recently awarded a $2.97 billion missile defense system contract over a 10-year indefinite-delivery/indefinite-quantity period. LMT also trades at a discount to the sector average, with its current P/E (price-earnings per share) ratio at 21.70x. Moreover, LMT offers an attractive dividend yield of 2.83%, paying a regular quarterly dividend of $3.3 per share. On TipRanks, the average Lockheed Martin price target of $527.15 implies a nearly 14% upside potential over the next 12 months. Also, seven analysts have given LMT stock a Buy rating, while six have rated it a Hold. Year-to-date, LMT stock has lost 3.5%. Northrop Grumman (NOC) Northrop Grumman is another promising aerospace and defense company, although it is smaller than Lockheed Martin. However, NOC has a different set of expertise, including autonomous systems, cybersecurity, strike platforms, logistics solutions, and C4ISR (Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance). NOC is also one of NASA's key suppliers, specializing in satellite technologies and space systems. NOC currently trades at a relatively low P/E ratio of 16.53x, making it an attractive stock. Additionally, it offers an above-industry-average dividend yield of 1.83%, and pays a regular dividend of $2.31 per share. On TipRanks, the average Northrop Grumman price target of $541.36 implies 7.4% upside potential from current levels. 10 analysts have awarded NOC stock a Buy rating, while five have rated it a Hold. Year-to-date, NOC stock has gained 8.4%. General Dynamics (GD) General Dynamics also operates in the defense and aerospace sector, specializing in Gulfstream business jets, aircraft repair and maintenance, nuclear-powered submarines, commercial tankers and ships, main battle tanks, IT solutions, and intelligence and surveillance systems. On July 2, General Dynamics Electric Boat was awarded a $1.85 billion contract modification to a previously awarded contract supporting submarine production. Moreover, it received a $150 million Army contract, and the GD Information Technology segment was awarded a $580 million contract to sustain force protection systems such as radars, cameras, and sensors worldwide. Additionally, GD pays a regular quarterly dividend of $1.5 per share, carrying an attractive dividend yield of 2.04%. Its P/E ratio stands at 19.33x. On TipRanks, the average General Dynamics price target of $296.38 implies that shares are almost fully valued at current levels. Meanwhile, GD stock has gained 13.1% year-to-date. Also, six analysts each have given GD stock Buy and Hold ratings. Which Is the Best Defense Stock? Among the three stocks discussed above, Lockheed Martin appears to be the most favorably positioned, thanks to its well-diversified revenue stream, long-term government partnerships, healthy dividend yield, and reasonable valuation.
