
AutoExec Summary
CEO of European automotive conglomerate Stellantis, Carlos Tavares, has informed the press that in order to maintain profitability, the company may need to ‘shut down’ or divest several underperforming car brands from its extensive vehicle portfolio. Stellantis currently owns fourteen brands (fifteen including China’s Leapmotor), which are Alfa Romeo, Abarth, Chrysler, Citroen, Dodge, DS, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, and Vauxhall. Tavares emphasized to Reuters in Milan that unprofitable brands will not be sustained. This is a significant shift from his previous commitment to a 10-year lifeline for each brand post the Fiat Chrysler and PSA merger in 2021. Stellantis’ financial performance has been impacted, with a 48% decrease in net profit and a 14% decrease in revenue compared to the previous year. Analysts speculate that Maserati, operating at a loss of €82m ($136m) in 2024, may be sold off. The Australian market has seen a decline in sales for most Stellantis brands, reflecting a wider trend of underwhelming sales results in Europe and North America amidst the transition to electric vehicles and increased competition from China.
Brands mentioned: Alfa Romeo, Abarth, Chrysler, Citroen, Dodge, DS, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall.
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