At the end of July, Stellantis announced that there is a possibility that it will shut down some of its brands. Many believed that Lancia and DS were in the greatest danger of being shut down, while some speculated that Maserati, Dodge, and Chrysler could be sold to avoid negative financial risk. However, according to the latest information, Stellantis will neither shut down nor sell any of its brands.

Stellantis CEO Carlos Tavares previously stated: “If they don’t make money, we’ll shut them down. We can’t afford to have brands that don’t make money.” It would be a painful move for one of the world’s largest conglomerates, but not a surprise. Business results in the first six months of 2024 are devastating. In that period, Stellantis shares have fallen by over 20%, net revenues are down 14 percent, and net profit is down 48 percent. Also, operating income fell by 40 percent. The reason is bad sales results in North America, where 18 percent fewer vehicles were delivered in the first six months than in the same period in 2023.

In some markets, such as the Middle East and Africa, sales of Stellantis vehicles increased (+3%), but this can be attributed primarily to good demand for Fiat cars.

Some brands like Abarth have been operating independently for years and will continue to sell more powerful Fiat models, while Chrysler now only offers the Pacifica minivan after the 300C sedan became a thing of the past. Dodge has added the Hornet to its lineup, which is essentially an Alfa Romeo Tonale, and is also introducing a new Charger with an electric powertrain and 6-cylinder options, but no V8 engine.

It is certain that Stellantis will remain committed to all its brands, even those that are facing challenges.

Source: Stellantis