Stellantis Stock Tanks

[jroyk]

Down 14% today. 40% on the year.

 

[MiHiHemi]

People are making some $$$ shorting that stock

 

[drag racer]

go woke, go broke. self-inflicted suicide

 

[jgilj]

Gee I wonder why dumb dumbs

 

[Boris]

go woke, go broke. self-inflicted suicide

I don't think this is so much going woke.
I think they just have no clue how to run a car business.

Where is any of the investment money going?
Seems like they fired all the engineers, fired a bunch of the work force, 0 new products coming out.
Killed their V8 (I will say the Hurricane is a sweet engine but they need products with it).
Killing sales by having the highest price increases of any major brand since 2021.

The woke part is just killing the V8 for an EV. The EV's are not even out yet. This was just terrible business leadership. And how Tavares even has a job is beyond me.
You can only cut so much, but that fucker thinks he can cut out all of the US production and engineering. What shortsighted planning on their part.

 

[2ndAmend]

They had the tools to continue to do great things, but instead they threw it in the trash and made many really stupid decisions. Maybe because corporate is comprised of people raised in socialist EU countries and think that obeying the gvt assures success. But there is absolutely no excuse for taking a golden goose and lopping its head off. It feels like revenge, but as the Ferengi said, "There is no profit in revenge".

It almost feels like Freedom is their enemy.

 

[jroyk]

This can't help.
Jeep urges 194,000 plug-in hybrid SUV owners to stop charging and park outdoors due to fire risk (yahoo.com)

 

[Under-Pressure]

I don't think this is so much going woke.
I think they just have no clue how to run a car business.

Where is any of the investment money going?
Seems like they fired all the engineers, fired a bunch of the work force, 0 new products coming out.
Killed their V8 (I will say the Hurricane is a sweet engine but they need products with it).
Killing sales by having the highest price increases of any major brand since 2021.

The woke part is just killing the V8 for an EV. The EV's are not even out yet. This was just terrible business leadership. And how Tavares even has a job is beyond me.
You can only cut so much, but that fucker thinks he can cut out all of the US production and engineering. What shortsighted planning on their part.

Stellantis has no interest in the US car market. It was an attractive investment that is getting sucked dry. Profits, shared technology & the big one…. Tax payer EV money funneled overseas. All that’s left is sell the RAM & Jeep brands, sell some real estate & bankrupt Dodge / Chrysler.

 

[04Ram2500Hemi]

I’ve accepted that after being a Dodge/Ram guy since 2004 (I took a break for a year and bought a Raptor before coming to my senses) that my 2021 Ram TRX is more than likely my last Ram product. It’s just sad to see the direction things are going. I just hope this truck lasts a long time. There isn’t anything else out there that interests me.

 

[CPRHDSRT]

Tavares is gone ...

https://www.nytimes.com/2024/09/29/business/stellantis-jeep-dodge-strike.html

"The problems are raising questions about the future of Carlos Tavares, the Stellantis chief executive, who races cars in his spare time. After taking the reins at the French carmaker PSA in 2014, he acquired a series of rivals to build a company that last year sold more cars than General Motors did.

Last week, Stellantis said it was evaluating who should lead the company when Mr. Tavares’s contract expires in early 2026. Mr. Tavares could remain chief executive, Stellantis said, but the statement was hardly a vote of confidence.

“I wouldn’t want to be Carlos Tavares,” said Erin Keating, the senior director of economic and industry insights at Cox Automotive, a market research firm."

Destroyed MOPAR as we know (knew) it.

Glad I got what I did while the getting was fricking great.

 

[1971demon]

Tavares is gone ...

https://www.nytimes.com/2024/09/29/business/stellantis-jeep-dodge-strike.html

"The problems are raising questions about the future of Carlos Tavares, the Stellantis chief executive, who races cars in his spare time. After taking the reins at the French carmaker PSA in 2014, he acquired a series of rivals to build a company that last year sold more cars than General Motors did.

Last week, Stellantis said it was evaluating who should lead the company when Mr. Tavares’s contract expires in early 2026. Mr. Tavares could remain chief executive, Stellantis said, but the statement was hardly a vote of confidence.

“I wouldn’t want to be Carlos Tavares,” said Erin Keating, the senior director of economic and industry insights at Cox Automotive, a market research firm."

Destroyed MOPAR as we know (knew) it.

Glad I got what I did while the getting was fricking great.

we should all be glad we got em..keep em in good shape..make em last

 

[BigSwede]

Tavares is gone ...

https://www.nytimes.com/2024/09/29/business/stellantis-jeep-dodge-strike.html

"The problems are raising questions about the future of Carlos Tavares, the Stellantis chief executive, who races cars in his spare time. After taking the reins at the French carmaker PSA in 2014, he acquired a series of rivals to build a company that last year sold more cars than General Motors did.

Last week, Stellantis said it was evaluating who should lead the company when Mr. Tavares’s contract expires in early 2026. Mr. Tavares could remain chief executive, Stellantis said, but the statement was hardly a vote of confidence.

“I wouldn’t want to be Carlos Tavares,” said Erin Keating, the senior director of economic and industry insights at Cox Automotive, a market research firm."

Destroyed MOPAR as we know (knew) it.

Glad I got what I did while the getting was fricking great.

Why? One year of total incompetence with the stock price down almost 14% today and 40% for the year and you made more than almost every executive in the business at 40 million for that terrible performance. Then you have two more years at who knows what pay and you’ll be 68 and ready to retire.

Why would anyone feel sorry for him. He came in, destroyed one of the biggest global car brands in the industry while wiping out thousands of careers and will probably make 100million in 3 years doing it. Screw him and the idiot who hired him.

 

[RAMBLE1]

I’ve accepted that after being a Dodge/Ram guy since 2004 (I took a break for a year and bought a Raptor before coming to my senses) that my 2021 Ram TRX is more than likely my last Ram product. It’s just sad to see the direction things are going. I just hope this truck lasts a long time. There isn’t anything else out there that interests me.

It looks bad, for Stellantis, too many changes and not for the good. I just bought a new Ram Classic Warlock. I wanted a Hemi, not sure about a 6 cylinder in a Ram. I've had many Rams, great trucks. Now, I'm getting up in age, this may be the last Ram for me. I have a 8 year extended warranty. Rams should have a Hemi or a little clatter, no electric or a sick sounding 6 cylinder. The Warren Ram plant will stop building the Ram Classic any day, now, Ram will no longer have a Hemi, sad...