Market Trend & Consumer Preference - The auto industry is shifting towards electrification and fuel efficiency, but a significant portion of pickup truck buyers still prefer V8 engines [1] - Stalantis' management, primarily based in Europe, may have initially underestimated the American pickup truck market and buyer preferences [2] Company Strategy & Product Lineup - Stalantis initially decided to remove the Hemi V8 engine from several of its brands, including Dodge, Jeep, Ram, and Chrysler, replacing it with an inline six-cylinder engine called the Hurricane [1] - Ram 1500 sales declined after Stalantis replaced the Hemi V8 with the Hurricane engine [1] - Stalantis has recognized its mistake and reintroduced the V8 engine while continuing to invest in six-cylinder engines and electrification [3] - Stalantis plans to introduce electric Ram trucks but acknowledges the importance of retaining the V8 engine to maintain sales among loyal customers [3]

Core Viewpoint - Ram brand under Stellantis is undergoing a significant turnaround plan led by CEO Tim Kuniskis, who aims to address the brand's declining market position and sales performance through various strategic initiatives and product launches [2][4][6]. Group 1: Turnaround Strategy - The turnaround plan includes over 25 announcements through 2026, focusing on revitalizing the brand's image and product offerings [3][9]. - Key initiatives involve the return of the Hemi V-8 engine, reintroduction of lower-priced models, and a new 10-year/100,000-mile powertrain warranty for Ram products [9][12]. - The brand's marketing efforts include a return to NASCAR, featuring promotional activities like the "Ride the Hemi" mechanical bull ride [10][11]. Group 2: Market Performance - Ram's market share in the U.S. full-size pickup truck segment has decreased from 17.8% in 2019 to 8.4% in early 2024, with overall sales of full-size trucks down 41% during the same period [8][12]. - Despite the overall sales decline, retail sales are projected to increase by approximately 28% in the first half of the year [13]. - The company aims to achieve a market share between 20% and 29.9% for its full-size trucks by the end of the turnaround plan [12][13]. Group 3: Leadership and Team Dynamics - CEO Kuniskis emphasizes a culture of performance and accountability, encouraging his team to push beyond conventional expectations [14][15]. - The leadership change has fostered renewed optimism among dealers, with positive feedback indicating confidence in the brand's recovery trajectory [16][17]. - Kuniskis has initiated efforts to rebuild trust with dealers after previous tensions regarding incentives and product offerings [16]. Group 4: Future Product Plans - Future product plans include the introduction of a passenger van and a midsize pickup truck expected in 2027, alongside the delayed electrification initiatives [10][20]. - The upcoming Ram 1500 extended range hybrid pickup is projected to offer the longest driving range in the light-duty truck segment, up to 690 miles [18]. - The company received 12,000 orders for the Hemi engine on the first day of availability, indicating strong demand for the revived product [19].

Core Viewpoint - The appointment of Antonio Filosa as the new CEO of Stellantis is seen as a pivotal moment for the company, which faces significant challenges in revitalizing its performance and restoring relationships with stakeholders after a period of decline under the previous leadership [1][4][14]. Group 1: Leadership Transition - Antonio Filosa, who has been with the company for 25 years, emphasizes the importance of avoiding mediocrity and aims to channel the leadership style of his mentor, Sergio Marchionne, to turn around Stellantis [1][2][4]. - Filosa's leadership style is described as engaging and collective, with a strong understanding of the business from factory operations to executive levels [3][17]. - The previous CEO, Carlos Tavares, resigned amid declining sales and profit, with Stellantis experiencing a 70% drop in net profit last year [5][14]. Group 2: Challenges Ahead - Filosa faces the challenge of mending relationships with dealers, employees, and politicians that were strained during Tavares' tenure, as well as managing the transition to electric vehicles [6][8]. - Stellantis' global sales fell 12.3% from 6.5 million in 2021 to 5.7 million in 2024, with a significant 27% drop in U.S. sales during the same period [11]. - The company is currently experiencing a product shortage, which has contributed to a 12% decline in overall sales during the first quarter of the year compared to the previous year [12]. Group 3: Market Position and Financial Performance - Stellantis' revenue decreased by 17.2% year-over-year in 2024 to €156.9 billion ($180.6 billion), contrasting with growth seen by competitors like General Motors and Ford [13]. - Filosa's immediate priorities include revitalizing U.S. market performance and addressing the extensive 14-brand portfolio of Stellantis [14][20]. - Investor confidence appears to be low, with shares declining 3.2% upon Filosa's appointment and continuing to drop by approximately 10% since then [23].

Core Message - The Ram brand is launching a new marketing campaign titled "Never Stop Being American," celebrating American culture and traditions, coinciding with the return of the HEMI V-8 engine and the brand's participation in NASCAR [2][8]. Marketing Campaign - The "Never Stop Being American" campaign features a 60-second advertisement narrated by UFC's Dana White, set to a custom version of "The Star-Spangled Banner" by Kenny Wayne Shepherd, and showcases various American symbols and activities [1][8]. - The campaign introduces a new tagline, "Nothing Stops Ram," and aims to resonate with American values and pride [2][8]. HEMI V-8 and NASCAR Return - The return of the HEMI V-8 engine and the Ram brand's involvement in NASCAR was officially announced by Tim Kuniskis, global CEO of the Ram brand, during a live event on June 8, 2025 [3][4]. - The "Ram-Demption" campaign was also launched, featuring a video with Kuniskis driving a NASCAR concept truck, highlighting the brand's commitment to its customers [5]. America250 Partnership - Ram has announced its exclusive truck brand partnership with America250, which is responsible for commemorating the 250th anniversary of the United States, including providing trucks for official events [6][9]. - The brand will also introduce a limited-edition A250 vehicle to celebrate this milestone [9]. Product Offerings - Ram is enhancing its product lineup for 2025, including improvements to the Light-Duty and Heavy Duty pickups, and introducing new off-road performance trucks like the Ram 1500 RHO [11][16]. - The company is focusing on its commercial offerings, launching the new 2025 Chassis Cab line and improving support for B2B customers [12][13].

Core Insights - Ram is returning to NASCAR after a 13-year hiatus, joining the CRAFTSMAN Truck Series in 2026, which is part of a broader strategy involving 25 product announcements over 18 months [2][8][10] - The unveiling of the new Ram 1500 concept race truck at Michigan International Speedway marks a significant milestone for the brand, showcasing its commitment to high-performance vehicles [2][5][8] - The return to NASCAR is expected to enhance brand engagement, as over 40% of NASCAR fans are truck owners, aligning with Ram's identity of high performance and durability [4][5] Product and Marketing Strategy - The Ram 1500 concept race truck features an aerodynamic design and is inspired by the Ram Truck Sport lineup, emphasizing performance with a race engine capable of revving over 9,000 rpm [5][6] - The "Ram-Demption" marketing campaign highlights the brand's return to NASCAR and includes various video formats to engage audiences across multiple platforms [7][9] - The return to NASCAR coincides with the reintroduction of the 5.7-liter HEMI V-8 engine in the 2026 Ram 1500, further solidifying Ram's performance credentials [9][10] Historical Context - Ram previously exited NASCAR's CRAFTSMAN Truck Series in 2012 after a 17-year run, focusing on launching the new 2013 Ram 1500 [10] - The brand has a rich history of performance trucks, including models like the Power Wagon and SRT10 Viper Truck, which have contributed to its identity in the market [10][11] Competitive Positioning - Ram is enhancing its market competitiveness by offering a diverse range of sport and off-road trucks, aiming to meet the growing demand in the pickup segment [13][15] - The brand's strategy includes improvements in commercial offerings and a focus on B2B expertise, which are critical for growth in the commercial vehicle segment [14][15]

Core Insights - Stellantis reported Q1 2025 net revenues of €35.8 billion, a 14% decrease compared to Q1 2024, primarily due to lower shipment volumes and adverse regional mix [6][8] - Consolidated shipments were 1,217 thousand units, down 9% year-on-year, attributed to lower production in North America and decreased LCV volumes in Enlarged Europe [6][8] - The company is suspending its FY 2025 guidance due to uncertainties related to evolving tariff policies [5][8] Financial Performance - Q1 2025 net revenues decreased by €5.9 billion from €41.7 billion in Q1 2024 [5][6] - North America saw a 25% decline in net revenues, with shipments down 20% to 325 thousand units [14] - Enlarged Europe experienced a 3% decrease in net revenues, with shipments down 8% to 567 thousand units [15] Market Dynamics - The company launched three all-new products in Q1 2025, contributing to a 1.9 percentage point increase in EU30 market share to 17.3% [9][10] - In South America, shipments increased by 19%, maintaining a market share of 23.8% [18] - The U.S. retail order volumes improved significantly, with new retail orders rising 82% in March 2025 compared to March 2024 [9] Strategic Initiatives - Stellantis is actively engaging with policymakers on tariff policies and adjusting production plans to mitigate impacts [11][8] - The company is focusing on innovations, including the introduction of STLA AutoDrive 1.0, enhancing vehicle intelligence and automation [17] - The process to appoint a new permanent CEO is underway and expected to conclude in the first half of 2025 [8] Segment Performance - North America: Shipments down 20%, net revenues down 25% [14] - Enlarged Europe: Shipments down 8%, net revenues down 3% [15] - Middle East & Africa: Shipments down 15%, net revenues down 15% [16] - South America: Shipments up 19%, net revenues up 6% [18] - China and India & Asia Pacific: Shipments down 20%, net revenues down 15% [19] - Maserati: Shipments down 48%, net revenues down 50% [20]