AbleGuy
Officious Intermeddler
More bad news for Stellantis?
www.dailymail.co.uk
“The maker of huge American brands Jeep, Dodge, Chrysler and Ram reported a staggering 70 percent drop in profits for 2024.
The corporate owner of the brands, Stellantis — the third biggest automaker in the US — said it cannot sell cars quick enough, with one model sitting on lots for over a year before selling on average.
Steep prices for several models are putting off buyers. The Jeep Wagoneer, for example, starts at $59,000 and top models reach upwards of $114,000. “
Meanwhile, several cars, including the Jeep Grand Cherokee and Jeep Wrangler, are prone to breaking down frequently, landing below-average reliability ratings with Consumer Reports.
Americans don't want to buy expensive and unreliable cars - which has (led) to a 25 percent drop in sales in the US, with Jeep badly hit. That is a bigger fall than the 11 percent in Europe.
Globally, profits for Stellantis — which also makes Fiat, Peugeot, and Maserati —fell from $19.55 billion in 2023 to $5.78 billion last year, according to its latest earnings report.
Stellantis also blamed delays delays to the launch of new models — leaving gaps in its range.
One glaring weakness is Stellantis’ lack of a small pickup in the Ram lineup. The Dodge Challenger, previously the smallest vehicle in its portfolio, was discontinued after the 2023 model year, leaving a gap in its range.
Major US car brand faces 70% profit drop… some cars sold in 428 days
The maker of huge American brands Jeep, Dodge, Chrysler and Ram reported a staggering 70 percent drop in profits for 2024.
“The maker of huge American brands Jeep, Dodge, Chrysler and Ram reported a staggering 70 percent drop in profits for 2024.
The corporate owner of the brands, Stellantis — the third biggest automaker in the US — said it cannot sell cars quick enough, with one model sitting on lots for over a year before selling on average.
Steep prices for several models are putting off buyers. The Jeep Wagoneer, for example, starts at $59,000 and top models reach upwards of $114,000. “
Meanwhile, several cars, including the Jeep Grand Cherokee and Jeep Wrangler, are prone to breaking down frequently, landing below-average reliability ratings with Consumer Reports.
Americans don't want to buy expensive and unreliable cars - which has (led) to a 25 percent drop in sales in the US, with Jeep badly hit. That is a bigger fall than the 11 percent in Europe.
Globally, profits for Stellantis — which also makes Fiat, Peugeot, and Maserati —fell from $19.55 billion in 2023 to $5.78 billion last year, according to its latest earnings report.
Stellantis also blamed delays delays to the launch of new models — leaving gaps in its range.
One glaring weakness is Stellantis’ lack of a small pickup in the Ram lineup. The Dodge Challenger, previously the smallest vehicle in its portfolio, was discontinued after the 2023 model year, leaving a gap in its range.
