AutoGear
  • Latest News
  • AutoGear TV
  • Sustainable Mobility
  • Motorsports
    • Circuits
    • Rally
    • Rally raid
    • WEC
  • English
    • Português
    • Italiano
    • Français
    • Español
    • English
    • Deutsch
    • 日本語
  • STANDINGS
No Result
View All Result
AutoGear
  • Latest News
  • AutoGear TV
  • Sustainable Mobility
  • Motorsports
    • Circuits
    • Rally
    • Rally raid
    • WEC
  • English
    • Português
    • Italiano
    • Français
    • Español
    • English
    • Deutsch
    • 日本語
  • STANDINGS
No Result
View All Result
AutoGear

Stellantis ready to discontinue brands that are not profitable

Virgilio Machado by Virgilio Machado
December 6, 2024
in Latest News
Reading Time: 2 mins read
0
The Stellantis automotive group, one of the largest in the world, born from the merger between PSA and FCA in 2021, which brings together 14 brands, may in the future give up on brands that do not generate profit. The signal of this measure was given by Carlo Tavares, CEO of Stellantis, in an interview with “Reuters”, where he made it clear that “unprofitable brands will be discontinued. We cannot afford to have brands that are not profitable.” Carlos Tavares did not disclose which brands may be at risk, although he recognized that all the group’s brands are important and profitable assets, but there is “absolutely no taboo” if their performance worsens. The warning for deficit brands comes after Stellantis announced that the profits for the first half of 2024 recorded a 48% drop to €5,647 million, compared to the same period in 2023.

It should be remembered that in 2021, after the merger between PSA and FCA, the management of the world’s fourth largest automaker announced the decision to invest in the 14 brands for 10 years. However, worrying signs have now emerged three years later, at a time when the automotive sector is facing a decline in demand, especially for electric vehicles, and facing increasing competition in Asia and Europe from Chinese manufacturers.

In addition, Stellantis saw its sales in the US decline by 18% in the first half of 2024 compared to the same period in 2023. Stellantis justifies the decline by discontinuing four models: Dodge Charger and Challenger, as well as the Jeep Renegade and Cherokee. In addition, sales of the Ram 1500 were lower because the pickup truck underwent a mid-cycle update.

In other markets, the decline in sales was less significant, such as in Europe and South America, with a 6% decrease. In contrast, the Middle East and Africa markets saw a 3% growth, benefiting from the tripled sales of Fiat in the period under review.

Tags: Carlos TavaresCherokeeDodge ChalllengerDodge ChargerEUAEuropaJeep RenegademarcasRam 1500Stellantis
Share212Tweet133Send

Related Posts

Stellantis anuncia suspensão da produção em segunda fábrica em França
Latest News

Stellantis announces suspension of production at second factory in France.

After announcing the suspension of production at the factories in Poissy, France, and Pomigliano, Italy, starting at the end of...

by Virgilio Machado
September 30, 2025
Genesis GV60 Magma conclui testes finais de desempenho
Latest News

“Genesis GV60 Magma completes final performance tests.”

Genesis announced that it has completed the final tests of the electric GV60 Magma, the brand's first high-performance model, which...

by Virgilio Machado
September 30, 2025
Novo Fiat 500 híbrido vai ser produzido em Itália e chega em 2026
Latest News

Stellantis lost about 10,000 jobs in Italy over the last four years.

Stellantis, which brings together brands such as Fiat, Lancia, Alfa Romeo, Citroën, and Peugeot, cut about 10,000 jobs in Italy...

by Virgilio Machado
September 29, 2025
Jaguar Land Rover suspende exportações para os EUA
Latest News

Jaguar Land Rover gradually resumes production after cyber attack.

Jaguar Land Rover (JLR) announced that it will resume its production operations, following the cyberattack it suffered in the beginning...

by Virgilio Machado
September 29, 2025

Recent News

Oscar Piastri Sparks Outrage by SNUBBING McLaren Boss Zak Brown After Singapore GP Drama!

Oscar Piastri Sparks Outrage by SNUBBING McLaren Boss Zak Brown After Singapore GP Drama!

October 6, 2025
Felipe Drugovich Shocks Racing World with Exclusive Andretti Formula E Contract Reveal!

Felipe Drugovich Shocks Racing World with Exclusive Andretti Formula E Contract Reveal!

October 6, 2025
Yuki Tsunoda’s F1 Future in Jeopardy: Is He Truly ‘Not Good Enough’ for Red Bull?

Yuki Tsunoda’s F1 Future in Jeopardy: Is He Truly ‘Not Good Enough’ for Red Bull?

October 6, 2025
Shane van Gisbergen Dominates Charlotte Roval: Heart-Stopping Elimination Drama Unfolds!

Shane van Gisbergen Dominates Charlotte Roval: Heart-Stopping Elimination Drama Unfolds!

October 6, 2025

Newsletter

  • PRIVACY POLICY
  • TECHNICAL INFORMATION
  • EDITORIAL STATUS
  • TERMS AND CONDITIONS

© 2023 AutoGear - Todos os direitos reservados AutoGear.

No Result
View All Result
  • Latest News
  • AutoGear TV
  • Sustainable Mobility
  • Motorsports
    • Circuits
    • Rally
    • Rally raid
    • WEC
  • English
    • Português
    • Italiano
    • Français
    • Español
    • English
    • Deutsch
    • 日本語

© 2023 AutoGear - Todos os direitos reservados AutoGear.