Stellantis experienced a significant profit drop in the first half of this year. CEO Carlos Tavares mentioned that they are considering closing or selling brands that are not profitable. In an interview with Autocar on July 26, Tavares stated, “If they are not making money, we will close them. We cannot carry unprofitable brands.”
Stellantis Plans to Close or Sell Non-Profitable Brands Stellantis, which includes brands such as Ferrari, Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, and Vauxhall, reported a 48% decrease in profits in the first half of this year, with profits falling to approximately 5.6 billion euros. This situation is much more serious compared to previous years for Stellantis.
This statement drew significant attention among Maserati’s management team, as Maserati reported an operational loss of 82 million euros during this period. Analysts believe this increases the likelihood that Stellantis might consider selling Maserati, which is generating losses instead of profits.
According to the same analysts, brands like DS and Lancia are also at risk of being cut, as they do not significantly contribute to the group’s total sales. Tavares added, “The existence of these brands is for their evaluated value. If they cannot realize the value they represent, the company will make a decision accordingly.”
Stellantis attributed the poor profit performance in the first half of the year to a decline in sales due to a narrowed product range. This decline is also attributed to the cost of living crisis across Europe and lack of interest in North America. Additionally, the release of new versions of models like the Peugeot 3008 and 5008 impacted performance.
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