Earnings at Stellantis fell a staggering 70 p.c in 2024. You do not have to be a monetary wizard to know that is a really laborious hit. Translated into money, it is a internet revenue of 5.5 billion euros, or $5.7 billion in US foreign money. By the point you consider bills and all of the issues that eat into these earnings, Stellantis in the end misplaced $133 million in 2024. Ouch.
That is not how Stellantis anticipated 2024 to go, clearly. Huge losses within the US, the corporate’s most worthwhile sector, had been pushed by stock woes of automobiles that had been too costly for his or her goal market. On the identical time, Ram and Dodge underwent transitions to new or up to date fashions that had been sluggish to reach, creating a spot at a really inopportune time. Ram CEO Tim Kuniskis flat-out admitted to Motor1 that the corporate dropped the ball on getting lower-priced Ram 1500s to market.
Photograph by: Motor1.com
In the meantime at Dodge, the brand new Charger launched first because the electric-only Daytona mannequin, and when it will definitely went on sale, reception was lukewarm at greatest. The combustion mannequin working the Hurricane inline-six engine has been fast-tracked for launch, nevertheless it’s nonetheless not slated to reach till later this yr.
The turbulent yr in the end noticed former Stellantis CEO Carlos Tavares abruptly resign after allegedly being at odds with your entire Stellantis board. Since then, an interim govt committee led by Stellantis Chairman John Elkann has made some sweeping adjustments, notably within the US market. Extra management has been given to CEOs of particular person manufacturers, and there is renewed optimism from the Fiat Chrysler Vehicles (FCA) facet of Stellantis.
Photograph by: InsideEVs
Stellantis as a complete, nonetheless, nonetheless has an extended approach to go. The corporate’s full-year monetary report forecasts an adjusted working margin in simply the mid-single digits. And if all goes in keeping with plan, Stellantis ought to begin creating wealth once more within the second half of the yr. In fact, that is all earlier than accounting for EV tax credit, tariffs, or insurance policies in Washington DC that might upset issues. Nonetheless, Elkann is cautiously optimistic.
“Whereas 2024 was a yr of stark contrasts for the corporate, with outcomes falling in need of our potential, we achieved vital strategic milestones,” Elkann stated in an announcement. Notably, we started the rollout of latest multi-energy platforms and merchandise, which continues in 2025, began manufacturing of EV batteries by means of our JVs, and launched the Leapmotor Worldwide partnership. Stellantis’ devoted and gifted individuals are driving ahead with vitality and willpower, partaking with key stakeholders and transferring decision-making nearer to our prospects. We’re firmly centered on gaining market share and bettering monetary efficiency as 2025 progresses.”
