Stellantis lost $1.8 billion in North America in only 6 months

Stellantis lost $1.8 billion in North America in only 6 months

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#stellantis #northamerica #manufacturing #electriccars #dealership

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[electricviking]

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[ryancouture]

My 2017 jeep Cherokee was my favorite car I’ve ever owned. It’s too bad. Prices skyrocketed and lack of EV options pushed me in a different direction with my last purchase but I did love that car.

[nickmcconnell]

Watching that Stellantis chairman read from a teleprompter tells me that they are in big trouble. If a chairman cannot speak without reading from a prompter that tells me he has to carefully parse his words with an eye towards legal problems. The lawyers probably wrote what he said.
That only happens when you are in big trouble.

[kenvalenti]

US car companies got greedy during Covid.
They chose to make fewer, more expensive cars with bigger profit margins.

[kiyoshitakeda]

The severance for the president who just left is €12 million (USD $12+million). Incredible how failure now has a new meaning.

[dainispozins]

Stellantis should ditch all American brands immediately. Badly overpriced SUVs and pickup trucks are useless on international markets...

[lookingfordrama]

While there are currently no concrete plans for Stellantis to break up, recent reports and industry speculation suggest that the company may be facing significant challenges that could lead to restructuring, including potential divestment of certain brands, due to factors like declining profits, slow electric vehicle adoption, and internal management issues, but a complete break-up is not widely predicted at this time

[AvocadoAtrocity]

Their cars are terrible, unreliable garbage. 😂😂😂

[jonb]

This is why it's far better to invest in the companies in the auto supply chain rather than the car manufacturers. Since there are so many car companies and the competition is brutal and fierce, a car brand can suddenly decline for many reasons. However, the automobile industry as a whole is durable and robust. Pick a company in the supply chain that has dozens of car brands as customers, and it's far more likely to succeed in the long term.

[machoopichoo]

The only way I can see the bulk of legacy auto surviving, in an inevitable EV world, is to invite the Chinese auto companies into Western nations to make domestic brands, but demanding JVs with the domestic brands. Otherwise, domestic brands will die. The Chinese can only be kept at bay so long by tariffs, etc.

[hahtos]

Stellantis cars in the US are laughably bad quality and REDICULOUSLY over priced.

[imudevco]

If you want to know how NOT to run a car company, just look at Stellantis 😂

[nicholausbaxter]

Stellantis products in the US are not compelling and not priced competitively. They rely on legacy customers and cannot attract new ones. As customers move on to other brands, they will continue to lose what little market share they have left.

[VisforVictory-kj]

And then there are Trump’s 25% tariffs taking effect in a few days, March 4, on Mexican and Canadian parts, which are highly interdependent with respect to North American manufacturing systems. So, good luck with the American / North American market.

[listerine-prlt]

Stellantis can definitely be used as garbage can.

[frankcoffey]

Normally in an abusive relationship the worse you treat them the more they keep coming back. But it seems there is a limit to that and some car buyers are saying "enough".

[GV-xxvh]

Legacy autos only have their own short sightedness to blame, China has leap-frogged them all.

[imudevco]

Well, if you were to bet on either Rivian vs Stellantis, who would you choose that they crash? 😱😱😱.

[zulustu]

They really are rubbish cars… it’s to be expected

[vincentkosik]

Thank God, Nissan is doing much better...sarcasm