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Stellantis to take $26 billion hit overhauling its business after 'over-estimating the pace of the energy transition'
CNBC· 2026-02-06 07:18
Core Viewpoint - Stellantis expects to incur a financial impact of approximately 22 billion euros ($26 billion) as it restructures its business to expedite the transition to electric and hybrid vehicles [1] Group 1: Financial Impact - The anticipated charges are primarily due to overestimating the pace of the energy transition, which has led to a disconnect with the actual needs and desires of car buyers [1] - The financial impact also reflects the consequences of previous operational inefficiencies, which are being progressively addressed by the new management team [2]
Automaker Stellantis books 22.2 bln euro writedowns in H2 2025 in EV pullback
Reuters· 2026-02-06 07:18
Core Viewpoint - Stellantis is booking charges of approximately 22.2 billion euros ($26.5 billion) in the second half of last year as it reduces its electric vehicle development plans [1] Financial Impact - The charges reflect a significant financial adjustment for Stellantis as it navigates the evolving automotive market [1] - The amount of 22.2 billion euros indicates a substantial impact on the company's financial statements for the period [1] Strategic Shift - The decision to scale down electric vehicle development suggests a strategic pivot in response to market conditions and company performance [1] - This move may indicate a reassessment of the company's long-term investment in electric vehicles [1]
X @Bloomberg
Bloomberg· 2026-02-06 07:16
Stellantis will take roughly €22 billion in charges linked to a sweeping overhaul of its operations as high costs and muted electric-vehicle sales force the automaker to adjust its strategy https://t.co/k5fvzwUGgB ...
LG Energy Solution to buy Canada JV stake from Stellantis
Reuters· 2026-02-06 07:04
Core Viewpoint - LG Energy Solution plans to acquire the 49% stake held by Stellantis in their battery joint venture in Canada for a nominal amount of $100 [1] Company Summary - LG Energy Solution is actively expanding its ownership in the battery sector by purchasing Stellantis's stake in the joint venture [1] - The acquisition reflects LG Energy Solution's strategic move to strengthen its position in the North American battery market [1] Industry Summary - The transaction highlights ongoing consolidation trends within the battery manufacturing industry, particularly among major automotive and energy companies [1] - The nominal purchase price indicates a potential shift in the valuation dynamics of joint ventures in the battery sector [1]
Stellantis Resets its Business to Meet Customer Preferences and to Support Profitable Growth
Globenewswire· 2026-02-06 07:01
Core Insights - Stellantis is undergoing a significant business reset to align with customer preferences and support profitable growth, with a new strategic plan to be communicated in May 2026 [2][4]. Financial Performance - Preliminary financial results for H2 2025 show improved Net Revenues and Industrial Free Cash Flow (IFCF), although Adjusted Operating Income (AOI) and Net Income were impacted by specific items [2][14]. - H2 2025 Net revenues are estimated between €78 billion and €80 billion, with a projected Net loss of €19 billion to €21 billion [15]. Strategic Shift - The company is focusing on a broader range of vehicles, including electric vehicles (EVs), hybrids, and advanced internal combustion engines, to meet diverse customer needs [3][4]. - A total of approximately €22.2 billion in charges was recorded for H2 2025, primarily due to realigning product plans with customer preferences and new emission regulations [10][11]. Operational Changes - Organizational changes include empowering regional teams to make decisions based on local customer knowledge and creating a more cost-efficient supply chain [6][10]. - Stellantis has seen a return to positive volume growth, with H2 2025 consolidated shipment volume reaching 2.8 million units, an increase of 277 thousand units or 11% year-over-year [7][36]. Market Position - Stellantis maintained a 7.9% market share in the U.S. for H2 2025, a 60 basis point increase sequentially, and retained its 2 market share position in Enlarged Europe [8][10]. - Customer order intake in Enlarged Europe increased by 13% year-over-year in H2 2025, with Q4 2025 orders up 23% year-over-year [8]. Quality Improvements - Initial quality management improvements have led to a reduction in reported vehicle issues by over 50% in North America and over 30% in Enlarged Europe since the beginning of 2025 [9]. Future Guidance - The company anticipates improvements in Net revenues, AOI margin, and cash generation in 2026, with a gradual sequential improvement expected throughout the year [18][19]. - Stellantis has suspended its dividend for 2026 in light of the 2025 Net loss and authorized the issuance of up to €5 billion in non-convertible subordinated perpetual hybrid bonds to maintain a strong balance sheet [16][17].
Dodge Launches 'Misfits' Marketing Campaign for the All-new 2026 Dodge Charger Scat Pack, the 'World's Fastest AWD Muscle Car'
Prnewswire· 2026-02-05 18:50
Core Insights - Dodge is launching the "Misfits" marketing campaign for the next-gen 2026 Dodge Charger Scat Pack, emphasizing its status as the "world's fastest AWD muscle car" [1][2] - The campaign aims to connect the brand's heritage with its future, highlighting the performance and attitude that define Dodge [2][3] Marketing Campaign - The "Misfits" campaign will debut with a 60-second spot on social media, followed by a 30-second broadcast version during significant events like March Madness and NASCAR [1][7] - Olivier Francois, Stellantis global chief marketing officer, stated that the campaign is designed to provoke and inspire loyalty, showcasing the Charger as a cultural icon [2] Product Features - The 2026 Dodge Charger Scat Pack features a 3.0L twin-turbocharged engine delivering 550 horsepower, capable of accelerating from 0-60 mph in just 3.9 seconds [7][12] - The starting MSRP for the Charger Scat Pack is $54,995, making it the most powerful vehicle in its class under $55,000 [7] Awards and Recognition - The next-gen Dodge Charger has been recognized as the 2026 North American Car of the Year (NACTOY), highlighting its performance and innovation [3][6] - The Charger lineup has also received accolades from various automotive publications, reinforcing its status in the market [6] Product Lineup - The Charger lineup includes both two-door and four-door configurations, with all models featuring standard all-wheel drive [8] - The lineup also includes the all-electric 670-horsepower Dodge Charger Daytona Scat Pack, showcasing Dodge's commitment to multi-energy vehicles [3][12]
All-new Dodge Charger Doubles Up, Earns 2026 MotorWeek Drivers' Choice Best of Year, Best Sport Coupe Awards
Prnewswire· 2026-02-05 17:30
Core Insights - The Dodge Charger has won the 2026 MotorWeek Drivers' Choice Awards for both Best of the Year and Best Sport Coupe, highlighting its exceptional performance and innovative design [1][1][1] Product Lineup - The Charger multi-energy lineup is now open for orders, featuring standard all-wheel drive and options for both two-door and four-door models [1] - The lineup includes: - 670-horsepower all-electric Dodge Charger Daytona Scat Pack, recognized as the world's quickest and most powerful muscle car - 420-horsepower twin-turbocharged Dodge Charger R/T, offering the highest standard horsepower of any muscle car in the industry - 550-horsepower twin-turbocharged Dodge Charger Scat Pack, the most powerful vehicle in the industry priced under $55,000 [1][1] Awards and Recognition - The Dodge Charger has received multiple prestigious accolades, including the 2026 North American Car of the Year and Car of the Year honors from TopGear.com, Detroit Free Press, and The Detroit News [1][1] - MotorWeek selected the Charger as the Best of the Year from winners across 12 vehicle categories, emphasizing its multi-energy performance and heritage-inspired design [1][1] Company Vision - Dodge CEO Matt McAlear stated that the recognition of the Charger validates its uncompromising performance, distinctive design, and cutting-edge technology while remaining true to the brand's heritage [1][1]
The Rise Of Extended-Range Electric Vehicles
CNBC· 2026-02-05 17:00
Ford's F-150 lightning was the best selling EV pickup truck in the US in 2025, Ford still decided to drop it. Now, the automaker and Detroit rival Ram are locked in a race to produce a new kind of truck with a battery that gets about 700 miles of range. But there's a twist it has a gas tank.It's called an extended-range EV or EREV. Automakers are betting these will outsell EVs by a wide margin. Ford hasn't announced when the new vehicle will launch, but so far, Ram's EREV, which it calls a Rev, will beat Fo ...
Chrysler recalls over 450K vehicles citing brake light failure
New York Post· 2026-02-05 03:45
Core Viewpoint - Chrysler is recalling over 450,000 vehicles and more than 2,000 tow-trailer modules due to a brake light failure that increases crash risk [1][2]. Group 1: Recall Details - The recall affects a total of 456,287 vehicles and 2,871 tow-trailer modules, as reported by the National Highway Traffic Safety Administration (NHTSA) [1]. - The faulty modules may cause brake lights on attached trailers to fail to illuminate or lead to complete trailer brake failure, which compromises visibility and heightens crash risk [2]. Group 2: Affected Models - The recall includes specific models such as the 2026 Jeep Cherokee, 2024-2026 Jeep Wagoneer S, and various 2025-2026 Ram models (1500, 2500, 3500, 4500, 5500) along with certain Mopar tow-trailer modules [2]. Group 3: Replacement Process - Owners of the recalled tow-trailer modules can receive a free replacement at a Fiat Chrysler dealer [3][8]. - For modules not installed, dealers will repurchase the item [5].
First Look: Tony Stewart Racing Drivers Pruett, Hagan Share Sneak Peek of New Dodge Livery
Prnewswire· 2026-02-04 15:00
Core Viewpoint - Tony Stewart Racing NHRA drivers Leah Pruett and Matt Hagan are set to unveil new Dodge race car graphics at the 2026 NHRA Gatornationals, scheduled for March 5-8 in Gainesville, Florida, marking the start of the racing season [1][2]. Group 1: Driver Highlights - Leah Pruett, a 12-time NHRA Top Fuel event winner, returns to competition after a two-year hiatus for maternity leave, eager to reclaim her competitive edge [1][2]. - Matt Hagan, a four-time world Funny Car champion, enters his 19th season with a total of 55 career wins in Dodge Funny Cars, having finished as runner-up in the 2025 standings [1][2]. Group 2: Event Details - The NHRA Gatornationals will feature qualifying runs on March 6 and 7, with final eliminations scheduled for March 8 [1][2]. - The event marks the season opener for the NHRA, showcasing the new Dodge race car graphics and the competitive spirit of the drivers [1][2]. Group 3: Team and Ownership - Tony Stewart, the team owner and a motorsports legend, will also compete in the Top Fuel class in 2026, having previously replaced Pruett in the TSR Dodge dragster during her absence [1][2]. - Stewart's involvement includes a return to NASCAR, where he will participate in the CRAFTSMAN Truck Series under Ram's Free Agent program [1][2]. Group 4: Dodge Brand Overview - Dodge continues to innovate with its next-generation lineup, including the all-electric 670-horsepower Dodge Charger Daytona Scat Pack and the 710-horsepower Dodge Durango SRT Hellcat, emphasizing performance and customization [1][2][3]. - The Dodge brand has a legacy of over 112 years, focusing on performance and customer care through its Mopar division, which provides genuine parts and accessories [2][3].