Stellantis Shifting Gears to Revive U.S. Sales and Market Share
Stellantis, the multinational automaker formed by the merger of Fiat Chrysler and PSA Groupe, is embarking on a bold strategy to revitalize its sales and market share in the United States. Antonio Filosa, the North America Chief Operating Officer and Jeep CEO, outlined the company’s plans during a press conference at the Automobility LA 2024 car show in Los Angeles, California, on Nov. 21, 2024.
Rebuilding Retail Market Share with a Fresh Approach
Filosa highlighted the urgent need to grow U.S. retail sales and market share after experiencing a decline in recent years. Stellantis is focusing on strengthening its U.S. leadership team, nurturing relationships with dealers, offering enhanced incentives, and introducing new products to attract customers. The company is determined to reclaim its position in the competitive American automotive market.
During a media roundtable at the Detroit Auto Show, Filosa emphasized, “U.S. retail market share is our main priority. This is obviously what we need to do.” The company’s overall U.S. market share dropped from 12.6% in 2019 to 9.6% in 2023, signaling the challenges Stellantis faces in the region.
Aggressive Strategies and Optimism for the Future
Leaders of Stellantis’ U.S. auto brands expressed a sense of urgency and optimism about the upcoming year. Bob Broderdorf, the head of Jeep in North America, highlighted the company’s aggressive strategies and positive trajectory. He noted significant changes that have reshaped the brand’s outlook in a short period.
Tim Kuniskis, the CEO of Dodge, acknowledged the setbacks faced by the company, particularly in the performance of Jeep and Ram Trucks. Kuniskis is committed to adjusting strategies, enhancing production, and launching new products to support dealers and drive sales. Despite challenges, he remains optimistic about the future, emphasizing the importance of balancing volume and margin for sustainable growth.
Learning from Past Mistakes and Embracing Change
Antonio Filosa candidly admitted that Stellantis had made mistakes in neglecting the North American market, particularly the U.S. The company is prepared to make necessary changes in its operations, especially in response to potential regulations from the incoming administration.
As Stellantis navigates a complex and evolving market landscape, the company is focused on adapting to regulatory changes and consumer preferences. By prioritizing growth, innovation, and customer relationships, Stellantis aims to regain its foothold in the U.S. automotive industry and drive long-term success.
In conclusion, Stellantis’ strategic shift reflects a commitment to revitalizing its U.S. sales and market share, setting the stage for a transformative journey in the automotive sector.
