The 2019 Ram 1500 Rebel pickup truck is displayed at the North American International Auto Show in Detroit, January 15, 2018. DETROIT – Automaker Stellantis plans to indefinitely lay off up to 2,450 U.S. factory workers later this year as it discontinues production of an older version of its Ram 1500 pickup truck in Michigan. The truck, which is produced alongside the Jeep Wagoneer and Grand Wagoneer, has been largely used as a low-cost pickup to sell to entry-level buyers and fleet customers since the auto ...

Weekly Report (August 1-8, 2024) Third Tranche of Stellantis 2024 Share Buyback Program AMSTERDAM, August 9, 2024 - Stellantis N.V. ("Stellantis" or the "Company") announced today that pursuant to its Third Tranche of the 2024 Share Buyback Program announced on August 1, 2024, covering up to €1 billion to be executed in the open market during the period between August 1, 2024 and November 29, 2024, it has repurchased the following common shares in the period between August 1 up to and including August 8, 20 ...

AUBURN HILLS, Mich., Aug. 8, 2024 /PRNewswire/ -- The all-new Dodge Charger Daytona will make its public debut at the MotorTrend Presents Roadkill Nights Powered by Dodge event at M1 Concourse in Pontiac, Michigan, on August 10. The all-new Dodge Charger Daytona will make its public debut at the MotorTrend Presents Roadkill Nights Powered by Dodge event at M1 Concourse in Pontiac, Michigan, on August 10. Worldwide public debut of all-new Dodge Charger Daytona will take place during Roadkill Nights Powered b ...

AUBURN HILLS, Mich., Aug. 7, 2024 /PRNewswire/ -- The Dodge brand is revealing pricing for the next generation of Dodge muscle cars — the all-new 2024 Dodge Charger Daytona: the world's quickest and most powerful muscle car. The Dodge brand is revealing pricing for the next generation of Dodge muscle cars — the all-new 2024 Dodge Charger Daytona: the world's quickest and most powerful muscle car. Charger Daytona two-door to launch with two high-performance models 2024 Dodge Charger Daytona R/T two-door mode ...

Core Insights - Dodge is expanding its Dodge Power Dollars program, offering customers a cash allowance of $10 per horsepower for various 2023 and 2024 model-year vehicles, including the Dodge Charger, Challenger, Durango, and for the first time, the Dodge Hornet [1][2][3] Group 1: Sales Promotion - The Dodge Power Dollars program starts on August 6, 2024, and applies to 2023 model-year Dodge Charger SXT, GT, and R/T models, 2023 Challenger SXT, GT, and R/T models, and all 2024 Dodge Durango trims, including SRT 392 and SRT Hellcat models [1][3] - The program provides a cash allowance based on horsepower, with examples including $2,930 for Durango SXT (293 HP) and $7,100 for Durango SRT Hellcat (710 HP) [4] Group 2: Sales Performance - Dodge brand total sales in the U.S. increased by 16% from Q1 to Q2 of 2024, indicating strong demand and momentum in the market [3] Group 3: Product Offerings - The 2024 Dodge Hornet is now eligible for the Dodge Power Dollars program, marking the first time this model is included [1][3] - The Dodge Durango SRT Hellcat is highlighted as the most powerful SUV ever, showcasing the brand's commitment to high-performance vehicles [7]

AUBURN HILLS, Mich., Aug. 6, 2024 /PRNewswire/ -- 2024 Jeep® Wrangler received two designations: Top Pick for Enthusiasts and Top Pick for Outdoor Adventurers 2024 Chrysler Pacifica, the most awarded minivan over the last seven years, named a Top Pick for Empty Nesters 2024 Fiat 500e chosen as a Top Pick for Urbanites Jeep®, Chrysler and Fiat brand vehicles earned honors as Top Picks from the 2024 Newsweek Autos Awards, announced today. Newsweek staff analyzed vehicles based on the features and qualities im ...

Investment Rating - The report maintains a "Buy" rating for Stellantis (STLA N) [2] Core Views - Stellantis reported a 14% YoY decline in net revenue to €85 billion and a 48% YoY drop in net profit to €5 6 billion for H1 2024 The adjusted diluted EPS fell 35% YoY to €2 36 [2] - The company is launching at least 20 new models in 2024 with 10 already in production in H1 Key models include the Ram 1500 Dodge Charger Daytona and affordable EVs like the Citroën C3 Fiat Grande Panda and Opel Frontera [2] - Stellantis leads in plug in hybrid sales in the US and ranks second in low emission vehicle sales It also holds the top market share in Europe and South America and achieved the top position in the Middle East and Africa for the first time [2] - The joint venture between Stellantis and Leapmotor will introduce the C10 and T03 EVs globally starting in Europe in Q4 2024 followed by South America Asia Pacific the Middle East and Africa [3] Financial Performance - Stellantis' 2024H1 revenue was €85 billion down 14% YoY while net profit dropped 48% YoY to €5 6 billion [2] - The company forecasts 2024 2026 sales of 6 04 million 6 24 million and 6 52 million units respectively Revenue is projected at €174 2 billion €182 4 billion and €194 1 billion with net profit expected to be €12 2 billion €13 7 billion and €14 9 billion [3] - Adjusted diluted EPS for 2024 2026 is estimated at €3 89 €5 08 and €5 52 respectively [3] Market Position - In Europe Stellantis holds a 15 7% market share in 2024H1 down from 16 6% in 2023 Peugeot Citroën and Fiat are key contributors with Citroën showing a 22 7% YoY increase in June 2024 registrations [8] - In the US Stellantis' market share dropped to 8 6% in 2024H1 from 10 1% in 2023H1 with a 13 2% YoY decline in sales [9] - Stellantis leads in plug in hybrid sales in the US and ranks second in low emission vehicle sales [2] Product Strategy - Stellantis is focusing on a multi powertrain strategy to capture market share in uncertain times Key models include the Ram 1500 with BEV and extended range versions Dodge Charger Daytona with BEV and ICE options and affordable EVs like the Citroën C3 Fiat Grande Panda and Opel Frontera [2] - The Ram 1500 BEV version offers a range of 350 500 miles while the extended range version can reach up to 690 miles [2] Regional Performance - In Europe Stellantis maintains a strong presence with Peugeot Citroën and Fiat contributing significantly to its market share [8] - In the US Stellantis faces challenges with a 13 2% YoY decline in sales and a drop in market share to 8 6% in 2024H1 [9] - The company has expanded its market share in the Middle East and Africa achieving the top position for the first time [2]

NEW YORK, Aug. 03, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Stellantis N.V. ("Stellantis" or the "Company") (NYSE: STLA). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980. The investigation concerns whether Stellantis and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On July 25, 20 ...

Stellantis Announces Launch of Third Tranche of Its 2024 Share Buyback Program AMSTERDAM, August 1, 2024 - Stellantis N.V. ("Stellantis" or the "Company") announced today that pursuant to its Share Buyback Program (or the "Program") announced on February 15, 2024, covering up to €3 billion (total purchase price excluding ancillary costs) to be executed in the open market, Stellantis has signed a share buyback agreement for the third tranche of its Program with an investment firm that will make its trading d ...

In an email to employees Tuesday morning, the company said it would offer a voluntary separation program to non-union U.S. employees at the vice president level "and below in certain functions." Stellantis CEO Carlos Tavares has been on a cost-cutting mission since the company was formed through a merger between Fiat Chrysler and France's PSA Groupe in January 2021. It's part of his "Dare Forward 2030" plan to increase profits and double revenue to 300 billion euros by 2030. Several Stellantis executives pr ...