Stellantis Could Shutter Some Car Brands or Go BANKRUPT

This past weekend chief executive Carlos Tavares has reigned from Stellantis, the maker of Jeep, Ram, Chrysler, Dodge, Alfa Romeo, Maserati, and Fiat, as the automaker battles a profit slump and weakened U.S. sales.

Tavares handed over the reigns to a newly created interim committee headed by chairman John Elkann. The company will name a new CEO in the first half of 2025. The veteran automotive executive has been under pressure since Stellantis slashed its profit forecast in September and prepared for a cash burn of up to 10 billion euros. The automaker mostly blamed slowing sales and bloated inventories in its crucial North American market. But there was much more to its failures, the CEO did not understand the US marketplace and doubled down on an all EV lineup and removed all performance engines and trims like the Hemi, Hellcat, Demon, Abarth, and Quadrifoglio.

The results of not reading the market and consumers, shares of Stellantis, the world's fourth largest automaker by sales, have tumbled over 43% so far this year. Tavares has led Stellantis since its formation in 2021, through the merger of Fiat Chrysler and Peugeot owner PSA. Previously we knew it as FCA.

We tell you why the future of all of these brands is in question.

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