Stellantis strives to reverse years-long declines in U.S. sales and market share by 2025.
- Stellantis aims to increase its retail market share in the U.S. this year, following a decline in sales in its largest and most significant market.
- Since 2018, Stellantis' U.S. sales have been on a steady decline, both in the retail and fleet sectors.
- On Friday, Antonio Filosa, head of the company's North American operations, admitted that the company has made "numerous errors" in recent years.
The U.S.'s top priority this year is to increase its retail market share in Detroit, its largest and most significant market, which has seen declining sales for several years.
Stellantis aims to increase U.S. retail sales and market share this year with the help of a revamped U.S.-focused leadership team, improved relationships with dealers, and new product releases, as stated by Antonio Filosa, head of North American operations since October.
"Filosa stated on Friday during a media roundtable at the Detroit Auto Show that it is evident that we must prioritize our U.S. retail market share."
Since 2018, Stellantis' U.S. sales, including both retail and fleet, have decreased every year. This decline applies to sales made by Fiat Chrysler, which merged with French automaker PSA Groupe in 2021 to form Stellantis.
According to annual public filings, the company's U.S. market share decreased from 12.6% in 2019 to 9.6% in 2023.
Under Carlos Tavares, the company prioritized profits over market share. Sources claimed that Tavares' focus on cost-cutting, aim to achieve double-digit profit margins through his "Dare Forward 2030" plan, and disregard for U.S. executives' advice about the American market led to the company's current predicament and ultimately resulted in Tavares' departure last month.
On Friday, Filosa admitted that the company has made "numerous errors" in recent years. He stated that the company overlooked the significance of the North American market, particularly the U.S.
Stellantis may make changes to its U.S. operations based on potential regulations from the incoming Trump administration, which has threatened to alter all-electric vehicle incentives and impose tariffs on Canada and Mexico, both countries where Stellantis imports vehicles.
"Filosa stated that they are working on scenarios, which could result in additional jobs in the U.S. However, they must wait for Mr. Trump's decisions and after his administration's decision, they will proceed accordingly."
Business News
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