It’s been just over a month since carmaking giant Stellantis shocked the corporate world by ousting its former CEO Carlos Tavares, but execs who remain are still diagnosing old problems with the automaker that caused it to hemorrhage sales in its key U.
Filosa also moved Jeff Kommor back to his previous role as U.S. head of sales after a disastrous year that saw Stellantis lose nearly 2 points of market share while inventory piled up at dealerships. Tavares had reassigned Kommor to a commercial sales role in February 2024.
The mooted Honda Nissan merger and the fallout from leadership change at Stellantis suggests the auto industry must brace for turmoil, where size is a survival necessity.
In a report released today, Michael Jacks from Bank of America Securities reiterated a Buy rating on Stellantis (STLA – Research Report), with
Tim Kuniskis, who retired from Stellantis and returned to lead Ram last year, explained what he sees as the big challenge that hit the brand's sales.
The automaker said its inventory reduction efforts worked, with an 80,000-vehicle drop in the U.S. over the fourth quarter.
Stellantis is one of the biggest car conglomerates in the world, owning brands based in the United States and in across Europe. Here's every one in its stable.
Auto major Stellantis said Thursday that fourth quarter shipments dropped 9% year-over-year to 1.395 million vehicles. In North America, shipments declined 28%. In the market it terms Enlarged Europe the fall was 6%,
Tim Kuniskis retired from Stellantis at the end of May 2024, after 32 years doing everything for the company but mop the floors. He had been CEO of the Dodge brand and then also the Ram brand for his final year, when there may have been a few too many disagreements with his boss, Stellantis CEO Carlos Tavares.
Stellantis reported its global deliveries fell by 9% to 1.395M vehicles during Q4 2024 amid inventory reduction initiatives in the U.S.
The US Equal Employment Opportunity Commission sued FCA US LLC, alleging the automaker violated Title VII by creating and maintaining a sexually hostile work environment at its Detroit Assembly Plant.