In a major shift in trade policy, the United States has officially doubled tariffs on imported steel and aluminum, raising rates from 25% to 50%. Spearheaded by former President Donald Trump, this decision is aimed at safeguarding U.S. manufacturing and addressing foreign dumping practices, citing national security as justification.
Stellantis N.V. $STLAM.MI, the multinational automotive conglomerate formed by the merger of Fiat Chrysler and PSA Group, has announced a pivotal leadership change. Antonio Filosa, currently head of the company’s North American operations, will take over as Chief Executive Officer effective June 23. The move comes in response to mounting pressure following a steep 70% drop in net profit for fiscal year 2024 and cash outflows totaling €6 billion ($6.75 billion USD).
Stellantis $STLA, one of the world’s top global car manufacturers, has officially appointed Antonio Filosa as CEO, replacing Carlos Tavares following a period of weakened performance in the U.S. automotive market. This executive reshuffle marks a pivotal moment in the company’s strategic roadmap as it navigates global challenges and shifts in the automotive industry.
Leasys, a leading player in the European long-term car leasing market, has announced its bold strategy to nearly double the proportion of low-emission vehicles—electric and hybrid—in its fleet by the end of next year. The move comes as the automotive industry faces rapid technological advancements and a growing push towards sustainability. As an established joint venture between Stellantis $STLAM.MI and Credit Agricole $ACA.PA, Leasys is keen on adapting to the rapidly changing landscape of electric mobility, addressing both the growing demand for green alternatives and the increasing pressures on the automotive industry to embrace more sustainable practices.
BYD $002594.SZ, a leading Chinese electric vehicle manufacturer, is reevaluating its operations in Europe following a series of strategic missteps. Challenges such as insufficient dealer engagement and the hiring of executives with local market expertise have hindered its growth in this crucial export market. To address these setbacks, BYD is actively expanding its dealer network and offering competitive salaries to attract experienced leaders from other automakers, particularly from Stellantis $STLAM.MI.
French automotive supplier OPmobility $OPM.PA is taking proactive measures to reduce costs in response to the economic impacts of U.S. tariffs. CEO Laurent Favre shared insights on the company's strategy during a media briefing, highlighting the potential challenges ahead given the company's ties with major U.S. automakers, including General Motors $GM, Stellantis $STLAM.MI, and Ford $F.
Recent developments in Turkey's automotive industry have highlighted the growing interest in expanding and modernizing local production. Turkish company Tofas has announced its plan to invest 256 million euros (approximately 291 million dollars) in the creation of a new passenger car model. This initiative aligns with obtaining approval from Turkey's antitrust authorities for the acquisition of the distribution business of Stellantis NV $STLA.
As global interest in electric vehicles (EVs) continues to grow, the automotive industry faces unprecedented challenges. In late March 2023, Stellantis—one of the world’s leading automakers—announced its decision to halt production of the compact electric vehicle Leapmotor T03 at its plant in Tychy, Poland. This move, which comes amidst Stellantis’ earlier plans to expand its EV footprint in Europe, has become a key topic of discussion across the automotive sector.
Stellantis NV, one of the world’s leading automakers, recently announced temporary layoffs of 900 employees across five facilities in the United States. The decision comes in response to a major policy shift following U.S. President Donald Trump’s latest tariff announcements. Additionally, Stellantis is halting production at one of its plants in Mexico and another in Canada.
Recently, Stellantis NV, the owner of renowned brands such as Jeep and Ram, announced the temporary suspension of operations at its plants in Canada and Mexico. This decision comes in response to the implementation of new tariffs that are beginning to significantly impact the entire automotive industry in North America.
Italian auto parts manufacturer CLN-Coils Lamiere Nastri SpA is in the spotlight following recent reports about its negotiations with Stellantis NV. Amid a challenging financial landscape, CLN is taking steps to reduce its debt and improve its financial standing. This situation may have significant repercussions for both the company’s assets and Stellantis' stock.
In response to tightening environmental regulations set by the European Union, Europe’s automotive sector is undergoing significant transformation. Recent reports reveal that Stellantis, Europe’s second-largest automaker, is set to acquire carbon credits from a consortium led by Tesla. This development marks a pivotal moment as the industry shifts toward enhanced emission control and increased electrification.
