DETROIT/MILAN, Sept 23 (Reuters) - Stellantis (STLAM.MI), opens new tab is searching for CEO Carlos Tavares' successor, the company said Monday, after the Chrysler parent laid out a plan to strengthen North America operations by slashing bloated inventories and cutting vehicle prices.
Stellantis said it was normal to initiate a search for Tavares' replacement in anticipation of his contract expiring in January 2026, and it remained possible Tavares will stay after that.

Tavares, who has run Stellantis since its creation in early 2021, has made it one of the most profitable groups in the industry. Still, he has been pressured recently to correct the automaker's struggling North American operations, whose record falls in sales and profit have sent its share price tumbling.
A source close to Stellantis Chair John Elkann, who is also the largest shareholder through Agnelli family holding company EXOR (EXOR.AS), opens new tab, said recent events did not trigger a search for a replacement. Rather, it reflected that finding a new CEO will be a long, complicated process.

EXOR declined to comment.
Bloomberg earlier reported that Stellantis was beginning the search for Tavares' replacement.
The automaker aims to cut 100,000 vehicles from its U.S. inventories by the start of next year, and has already reduced about 40,000 units in July and August, Chief Financial Officer Natalie Knight said at a BofA Securities virtual conference.
“We are living in very difficult times where there are going to be winners and losers, and a lot about being the winner is being the last man standing," Knight said, adding discipline on pricing and inventory would be a core part of the automaker's strategy to weather the bumpy transition to electric vehicles.



The Jeep manufacturer is under pressure from shareholders, dealers and its unionized workforce to turn around falling sales, profits and a slumping share price.
It faces a potential strike from the United Auto Workers union in the U.S., where local Stellantis chapters have started laying the groundwork for a nationwide walkout.
“When times are tough, you get friction everywhere," Knight said, adding she wanted investors to see 2024 as a transitional year, not the new normal for the Franco-Italian group.

 

It sounds like the name of a pill for erectile dysfunction.

Ask your dealer if stellantis is right for you.

Side effects may include: suspended driver's license, low credit score, and a busted oil cooler.

 

You can get a Dodge Hornet really cheap right now if you don't like yourself very much.

 

Funny enough, 100K units is about the same as the annual sales of the Pacifica.

 

Comically so....almost tempting if they weren't so bad

 

Too funny! 🤣 🤣. 🤣.
So I'm not the only one who thinks it's a bad name. Lol

 

I wouldn't even call it blue-collar.....Dodge is generally more of a brand for those who like to drive with a heavy right foot. When one thinks of blue-collar, large American pickup trucks usually come more to mind.

 

I don't hate the Tonale, it's pretty much in line with all the other small FWD cars Alfa made before the Giulia and Stelvio. But rebadging it as a Dodge and asking for $45K for a subcompact was insanely daft for the US market. What Stellantis has yet to recognize about the American market is that people correlate large size to price, which is what Volkswagen realized when they killed the Touareg in favor of the Atlas because the former wasn't big enough despite having the premium bones of a Q7. Also the reason why the ES kept cannibalizing GS sales.

The Challenger epitomized this because it was a huge car inside out, which is also the reason why it easily outsold the Mustang and Camaro even though they're better driving sports cars.

 

I think you might be onto something.
Higher price, bigger car and engine and etc

 

Dodge has kind of a hood reputation IMO. Drive into the low income areas of your town. The newest vehicles will be Dodge Chargers and Nissan Altimas/Maximas.

 

Maybe not the engine, most people don't care that V6's are getting replaced with turbo 4's. But they definitely notice how large a car is on the outside and when they sit in it, which immediately makes them feel like they're "getting their money's worth" before even driving the car. I think this is also the main reason why SUV's and crossovers easily outsell their sedan counterparts; you feel like you're getting a bigger car for similar money even though it's just a lifted version of a car.

 

Perhaps in your part of the country (Utah/Nevada). Around here (D.C. suburbs), many lower-income people are driving Nissan Rogues/Rogue-Sports, Subaru Crosstreks, Hyundai Kona/Venue, and lower-trim Toyota RAV4s. Those are not the only vehicles they drive, of course, but you do see a lot of them.

 

Don't forget the infinity branded cars!

 

Don't remind me. I got cut off by a straight piped Q50 on the way to work today.

 

There is an M45 for sale near me I've been temped to drive around for a while......see if it corrupts me lol!