Stellantis Cites Weak U.S. Sales

Discussion in 'Challenger News, Articles and Media Reviews' started by SRT-Tom, Jul 25, 2024.

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  1. Jul 25, 2024 at 2:59 PM #1
    SRT-Tom

    SRT-Tom Well-Known Member Staff Member Super Moderator Article Writer

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    Stellantis reported a steep drop in first-half net profit, citing reduced volumes, temporary production gaps and lower market share in North America. The company, which owns Jeep, Dodge, Fiat, Chrysler and Peugeot, reported first-half net profit of $6.07 billion, down 48% from the same period of 2023.


    “The Company’s performance in the first half of 2024 fell short of our expectations, reflecting both a challenging industry context as well as our own operational issues,” Stellantis CEO Carlos Tavares said in a statement. Speaking to the media, Tavares said that many of the firm’s problems stem from its U.S. operations, which he previously said were being impacted by “arrogant mistakes” regarding vehicle inventory levels, manufacturing problems and sales strategies.


    Stellantis is still in the process of correcting many of the U.S. issues. Tavares pushed back on the company’s massive cost-cutting efforts leading to the problems. Several executives previously described the cuts to CNBC as grueling to the point of excessiveness.


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  2. Jul 25, 2024 at 4:07 PM #2
    HellKitten

    HellKitten Full Access Member

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    Well maybe if vehicles weren't 60K all day and interest rates were not so high more people could afford it .
     
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  3. Jul 25, 2024 at 4:50 PM #3
    SRT-Tom

    SRT-Tom Well-Known Member Staff Member Super Moderator Article Writer

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  4. Jul 25, 2024 at 5:36 PM #4
    Sexy Blue

    Sexy Blue AKA Bob

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    According to this guy, the company, and build quality has been going down the tubes rather quickly.

    https://www.youtube.com/@TKsGarage

    Carlos already getting the boot.

     
  5. Jul 25, 2024 at 9:48 PM #5
    Cloverdale

    Cloverdale Full Access Member

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  6. Jul 25, 2024 at 11:05 PM #6
    baccaruda

    baccaruda Full Access Member

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    I can see Stellantis keeping Ram and Jeep and cutting the rest. IMO
     
  7. Jul 26, 2024 at 6:24 AM #7
    SRT-Tom

    SRT-Tom Well-Known Member Staff Member Super Moderator Article Writer

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    Jeep has always been profitable, that's why Chrysler acquired it years' ago.

    Although first-quarter 2024 total U.S. sales decreased 10% over the past year, Jeep sales increased 2% during the same time period. Jeep models Wrangler, Compass, Renegade, Wagoneer and Grand Wagoneer all posted gains.
     
  8. Jul 29, 2024 at 10:33 AM #8
    James Cavender

    James Cavender Member

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    Well when you only have one product to offer and the product (Hornet) is below expectations. You will have slow/bad sales. Why would they not have a comparable model worthy of the name (Dodge) prepared to take over the great sales leader Challenger and Charger is beyond me. Sorry, (Stellantis) They get what they deserve.:(
     
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  9. Jul 29, 2024 at 12:49 PM #9
    SRT-Tom

    SRT-Tom Well-Known Member Staff Member Super Moderator Article Writer

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  10. Jul 30, 2024 at 6:48 PM #10
    SRT-Tom

    SRT-Tom Well-Known Member Staff Member Super Moderator Article Writer

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    Last edited: Jul 30, 2024
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