Stellantis is on the hunt for a new CEO — and whoever it is better be a miracle-maker.
I’ve talked about the company’s recent woes before. Stellantis has reported a steep 70% decline in net profit, falling from 18.6 billion euros ($19.5 billion) in 2023 to 5.5 billion euros ($5.77 billion) in 2024.
Imagine the new Barracuda as a Challenger replacement, while using the ‘Cuda name for performance versions.
On top of that, the company is in the midst of a leadership transition following the sudden departure of CEO Carlos Tavares late last year. Until a successor is named — expected in the first half of 2025 — Chairman John Elkann is overseeing operations alongside an interim executive committee.
Big enough to fail
The future seemed a lot brighter back in 2021, when Stellantis was formed from the merger of Fiat Chrysler and Peugeot owner PSA. Now the world’s fourth-largest automaker, the company was ready to throw its weight around.
But with size came lack of focus. Stellantis’ broad brand mix — which includes names like Jeep, Peugeot, DS, Lancia, Maserati, and Alfa Romeo — has proven difficult to manage efficiently.
Investing big in EVs hasn’t helped, either.
Nonetheless, Stellantis is confident the right CEO will be able to turn things around. Whoever it is will have to make some tough decisions when it comes to some heritage brands. It’s doubtful all will make it through.
A better Barracuda?
On the other hand, we could see some iconic names coming back. A smaller, twin-turbocharged, all-wheel-drive V8 coupe Barracuda, anyone?
It could happen if rumors are true that performance guru Tim Kuniskis will return to the company. There are a lot worse strategies than putting Kuniskis behind the wheel of the Stellantis portfolio of brands.
Cooking with gas
Imagine the new Barracuda as a Challenger replacement, while using the ‘Cuda name for performance versions, as the company has in the past, all with a V8 version that is smaller, lighter, and more sophisticated than its predecessors.
They’ll sell like hotcakes.
The syrup and whipped cream on top will be if the U.S. Federal EV mandate truly goes away. When that happens, automotive stocks for companies making gasoline cars will see a dramatic revaluation.
As always, we’ll keep you posted.
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