Stellantis: Results with a "Minus"
The Stellantis group has released its financial report for 2024, revealing the extent of the crisis.
The group's revenue dropped by 17%, totaling €156.9 billion, while vehicle sales fell by 12%. Consequently, unsold cars accumulated in warehouses, leading to production halts and emergency measures for clearance sales. The most overstocked North American division even exceeded its target by reducing its inventory by the end of the year to 304,000 cars (instead of the planned 330,000). Stellantis's operating income in 2024 plummeted by 64% (to €8.6 billion), and net profit decreased by a staggering 70%, down to €5.5 billion.
Nevertheless, the management of the group maintains an optimistic outlook for 2025, hoping for a recovery in the auto industry and their own plan to ramp up production, sales, and profits. This plan was developed by Stellantis's crisis management team led by interim CEO John Elkann. According to this strategy, the group will continue to reduce inventory levels in North America and expedite the introduction of new models to the local market. Additionally, Stellantis aims to strengthen collaboration with its dealers, suppliers, governments, and regulators. Finally, regional divisions will be granted greater autonomy.
This year, the group plans to unveil 10 entirely new models worldwide, which is expected to boost demand. In line with current trends, it has been announced that engineers will increasingly rely on artificial intelligence in vehicle development, with a contract already signed with the French company Mistral AI. AI will primarily be utilized in voice assistants and the new third-level autopilot, STLA AutoDrive. However, much will depend on the new head of Stellantis, whose search is still ongoing and is expected to conclude by the end of the first half of the year.
Italy VS Stellantis, BYD, Tesla, VW
Italian authorities have accused four electric vehicle manufacturers of falsifying the specifications of their cars. An investigation has been launched against Stellantis, BYD, Tesla, and Volkswagen for intentionally misleading consumers regarding range, battery degradation, and warranty conditions.
The Italian antitrust authority AGCM believes that the companies provide false information about the main characteristics of electric vehicles in their advertising materials. The financial police are already involved in the case, and if the Italian authorities manage to prove their case, the four automakers may face substantial fines.
"Semi-finished Products" in Volvo
A scandal is brewing in China involving Volvo: local car owners report that their vehicles are equipped with audio system speakers labeled Bowers&VVilkins or Bovvers&Wilkins instead of the original Bowers&Wilkins. Additionally, some interior elements appear to be substandard — for example, the "crystal" gear selector. The local Volvo representation has already promised to investigate the situation.
g – the younger brother of G
Initial details have emerged about the upcoming younger sibling of the iconic G-Class SUV, mentioned in the new strategy of Mercedes-Benz.
According to preliminary information, it will be a crossover built on the new MMA platform, which underpins the next-generation Mercedes CLA sedan. The Baby-g will feature typically "light vehicle" technology and a design reminiscent of the G-Class. The debut timeline for the new model remains unknown.
