Adding to the chaos in Stellantis' ranks, after less than a year North America chief Carlos Zarlenga also gets the boot.
European automakers' shares jumped on Thursday after U.S. President Donald Trump gave carmakers a one-month reprieve from his punishing 25% tariffs on Canada and Mexico, with Chrysler-to-Fiat maker Stellantis pledging more American-made cars.
Stellantis on Wednesday reported second-half and full-year 2024 earnings, highlighting a challenging period for the owner of Jeep, Ram, Chrysler, Dodge and Fiat, which is currently searching for a new CEO after the departure of Carlos Tavares.
The Dodge Viper is the Antichrist of emissions regulations. It was ludicrous. The first-generation Dodge Viper fed all the power from its Herculean 8.0-liter V10 directly to the rear wheels and rewarded those brazen enough to own and drive them with a combined fuel economy of 12 mpg. Not exactly the perfect daily-driver sports car.
Carlos Tavares departed the automaker in December. He's still owed severance payments and company shares, a report shows.
The company has the largest portfolio in the automotive industry, with 14 brands spread across the United States and Europe. It’s simply too many.
Jeep maker Stellantis told its U.S. dealers Tuesday that newly-imposed 25% tariffs on all products from Mexico and Canada will put its car brands at a competitive disadvantage against Asian and European automakers.
In the carmaker's profit-rich U.S. market, vehicle sales fell 15% overall in 2024, and 7% for the fourth quarter. But the automaker cut prices and offered deep incentives in the final weeks of the year, which helped pick up the sales pace and clear the glut of older cars off dealer lots.
A possible 25 percent levy on goods from Canada and Mexico is likely to raise the prices consumers pay for new cars and trucks, and disrupt complex supply chains.