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Stellantis CEO says company is on pace to fix sales problems after poor performance this year

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Stellantis NV Notizia

European Union,Europe,Carlos Tavares

Stellantis is fixing its slowing U.S. sales at the right pace after fumbling a marketing plan earlier this year, CEO Carlos Tavares told reporters Monday. Tavares pushed out the company’s chief financial officer and the chief operating officers for both North America and Europe last week.

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Stellantis, formed from the 2021 merger of France’s PSA Peugeot and Fiat Chrysler Automobiles, has struggled this year in both Europe and the U.S. He said the company is in a “Darwinian period,” and nothing is off the table including plant closures or shutting down brands. “When you are fighting for survival, you have to consider everything is on the table.”It now expects to end the year with negative cash flow of 5 billion euros to 10 billion euros instead of positive.

UAW President Shawn Fain contends Stellantis wants to delay reopening the plant until after the contract expires in 2028, when it would no longer be legally obligated to reopen it. He’s also upset at reports that Stellantis plans to move production of the Dodge Durango SUV from Detroit to Canada. Ivan Drury, director of insights at Edmunds, said Stellantis for years has lacked affordable models that many buyers in the U.S. now want.

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Stellantis CEO Carlos Tavares To Retire In 2026 Amidst Leadership Shakeup And Company StrugglesStellantis, the parent company of brands like Chrysler, Jeep, Dodge, and Ram, is facing significant challenges in its US auto business. The news comes as CEO Carlos Tavares announces his retirement for 2026, prompting a major leadership restructuring.
Fonte: verge - 🏆 94. / 67 Leggi di più »