News Formal

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

  • 📰 AP
  • ⏱ Reading Time:
  • 47 sec. here
  • 18 min. at publisher
  • 📊 Quality Score:
  • News: 78%
  • Publisher: 51%

Stellantis NV News

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.

Members of the Kennedy family gather for funeral of Ethel KennedyThe Afternoon WireThis could have been a year of a federal court reckoning for Trump.

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 728. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: verge - 🏆 94. / 67 Read more »