Stellantis looks to cut 3500 US hourly/skilled trade positions

[cygnus]

Chrysler-parent Stellantis looks to trim around 3,500 hourly U.S. jobs -union letter

I was right, from the very beginning. They are trying to destroy this company (again).

 

[AlexB]

I was right, when told folks that the company would defend the margins & pricing.
Buyouts / Early Retirement Offers were a favorite little tool of Carlos to use at PSA.

 

[AlexB]

Ford Confirms Layoffs, Says It Is Cutting About 3,000 Jobs

The job cuts come as Ford slashes costs and makes a longer-range transition to electric vehicles.

www.wsj.com

GM buyouts cut 5,000 salaried jobs, CFO says

About 5,000 General Motors Co salaried workers took buyouts to leave the company, putting the company well on the way to hitting a $2 billion cost-cutting target, the automaker's chief financial officer said Tuesday.

www.reuters.com

Ford & GM
GM's involuntary layoffs start Monday, at least 4,000 workers expected to lose jobs
GM in 2019

 

[ChargerFan1]

I was right, when told folks that the company would defend the margins & pricing.
Buyouts / Early Retirement Offers were a favorite little tool of Carlos to use at PSA.

Fancy spin on saying their sales are in the toilet because they charge WAY too much for them, nothing of what they're doing is sustainable, as you'll see.

 

[AlexB]

Fancy spin on saying their sales are in the toilet because they charge WAY too much for them, nothing of what they're doing is sustainable, as you'll see.

Sales ain’t the main component of the North American business. That very “Bankrupt thinking” of you and Pre-Bailed out Detroit 3.

 

[cygnus]

10% or 12% EBIT is more than enough to run a company selling cars at a fair price, with enough left over for reinvestment and paying out defined benefit contributions.

There’s a difference between moving metal at any cost and gouging. What is happening now is closer to gouging.

All we are asking for is something in the middle.

 

[cygnus]

Ford Confirms Layoffs, Says It Is Cutting About 3,000 Jobs

The job cuts come as Ford slashes costs and makes a longer-range transition to electric vehicles.

www.wsj.com

GM buyouts cut 5,000 salaried jobs, CFO says

About 5,000 General Motors Co salaried workers took buyouts to leave the company, putting the company well on the way to hitting a $2 billion cost-cutting target, the automaker's chief financial officer said Tuesday.

www.reuters.com

Ford & GM
GM's involuntary layoffs start Monday, at least 4,000 workers expected to lose jobs
GM in 2019

Both (still) have far more headcount than STLA.

 

[patfromigh]

Sales ain’t the main component of the North American business. That very “Bankrupt thinking” of you and Pre-Bailed out Detroit 3.

What, are they going into real estate instead of selling cars like Huppmobile did? Software subscriptions don't get people to where they want to go.

BTW, I don't think Stellantis is price gouging. If it's price gouging people would just have to put up with what the corporation is charging, instead Jeeps and Rams are stacking up on the lots.

 

[cygnus]

"BTW, I don't think Stellantis is price gouging. If it's price gouging people would just have to put up with what the corporation is charging, instead Jeeps and Rams are stacking up on the lots."

They've never had higher EBIT in North America than what they have now, with the lowest volume, along with a high gross margin.

But you are correct in that there are fewer misinformed / gullible people to part their money with at the prices they're asking. They're running out of people with cash burning in their pocket.

 

[patfromigh]

I just watched the TFL video on youtube for the Bronco Sport Heritage package. Ford is leaving the CDJ brands in its dust on price increases. I was upset about the 2023 Jeep Compass Trailhawk having a $37,000 USD sticker, but the top Bronco Sport is still another 10 Grand above that. I'm not letting Stellantis off the hook just because Ford is more outrageous with prices. The fact remains the price of entry into Dodge, Jeep, and Ram brands is too high for me. I tried to buy a Ford Maverick last year, but was mysteriously dropped from the waiting list, so I'm ticked off with Ford. The poster child for price increases is the Ford Lightning pickup with its 50% increase in the base price.

The base price for the Toyota bz4x battery electric is 44 thousand. Can the Chrysler Airflow (or whatever they end up calling it) be price competitive with the Toyota or the Korean brands? If not kiss the Chrysler brand goodbye.

I suspect the Stellantis pricing strategy is based on the cheap money which, until recently, has been prevalent for a long time in America. It's not just inflation, but obtaining credit is much harder. Car loans are more expensive with higher interest rates along with the high vehicle prices.

 

[CloversPlusCats]

The base price for the Toyota bz4x battery electric is 44 thousand. Can the Chrysler Airflow (or whatever they end up calling it) be price competitive with the Toyota or the Korean brands? If not kiss the Chrysler brand goodbye.

The bZ4x wouldn't be hard to beat in general. For the range and charge times it allows, the car honestly is better off with at least a upper 30's price range. No, it's not MX-30 levels of bad (that car needs to be at Bolt prices or less for what it gives), but for not too much less than what the Toyota actually costs at base, Ioniq 5 gets you it's kick ass charging speeds standard on its base model.
Both of these are CUVs though, Chrysler will go after the segment higher Fisker Ocean ($39k to start), Blazer EV (I believe $45k to start), Honda Prologue, and I suppose will be a comfort focused alternative to the Recon.
If they try and go a bit above those two with the prices mentioned, standard super fast charging times on all trims is a must at least.

 

[cygnus]

Apples and Oranges comparison.

There are 4WD Mid-Trim Bronco Sports being sold for $31K - https://www.royaloakfordsales.com/new-Detroit-2023-Ford-Bronco+Sport-Big+Bend-3FMCR9B66PRD47749?store=RYLOAKFORD&&mcmid=adv13&channel=search&searchid=|&dstargetid=pla-293946777986&gclid=Cj0KCQjw3a2iBhCFARIsAD4jQB1L_P6ha7ij_LcHqXVruFuHAouieWMSIXrWXIDGX7r4te3bJ5TCtgcaAqDrEALw_wcB&gclid=Cj0KCQjw3a2iBhCFARIsAD4jQB1L_P6ha7ij_LcHqXVruFuHAouieWMSIXrWXIDGX7r4te3bJ5TCtgcaAqDrEALw_wcB&gclsrc=aw.ds

This is the functional equivalent to a Compass Limited 4WD, which is $37K. The Compass has a better engine, but not $6K better, matching trim level to trim level and comparing price. The 2023 Compass is overpriced in every segment.

Ford is just fishing for people stupid enough to buy a $45K Bronco Sport. Great margin if you can get it, it’s just slightly different paint and plastic.