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Stellantis Releases Its Financial Results For H1 2024

Stellantis Releases Its Financial Results For H1 2024​

Company Still Reported A Net Profit Of $6.2 Billion, Down 48% Compared To 2023...​



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Stellantis has announced its financial results for the first half of 2024. Despite a challenging economic environment, the company reported a net profit of €5.6 billion ($6.2 billion) and an adjusted operating income (AOI) margin of 10%. However, the results reflect significant declines compared to the first half of 2023, with net revenues down 14% to €85.0 billion ($94.1 billion) and net profit down 48%.

 
Putting Fiscal approval off through the Due Diligence and Merger for the new model implementation have finally come due. Way too much idle capacity and idle models.
 
There can be little doubt that Stellantis has not made the transition of North American new product or the composition of that product, to be kind, smoothly.
Yes, a significant and well developed innovative new platforms that require extensive factory redevelopment and redeployment would be disruptive no matter the timing and sequencing. The cancelation of Charger, Challenger, Cherokee, Renegade and Chrysler 300 were all premature, but given the need for so much factory redevelopment, a necessary hit.
Two significant management failures are evident and worrisome, pointedly, the decision to move so completely and quickly to an all electric portfolio and the consistent inability of a predominantly European company to understand its most lucrative market, North America are both catastrophic. It is evident that a “one size fits all” approach does not and can not work for any global company. The North American market has been coerced into accepting poison pill products that Americans just do not want. Worse, the refusal to accept what they want evidently falling on deaf ears management reveals a level of hubris and arrogance that is unacceptable and which will inevitably lead to a sizable migration of potential customer to other brands. The too big, too misaligned to their customer base, new Dodge Charger Daytona speaks volumes about force feeding Dodge decision makers a menu item that they know will not be palpable to their customers. We all know instinctively this new Charger will disappoint, no use sugar coating it. Just as instinctively we know Dodge can survive, prosper, with more product that reflects the wants and needs of Dodge customers.
If things look bad now, just wait a few months. If the upper management continues to micro manage, ignore and abuse their people and customers in North America and not let loose their vision and talent, these poor numbers will only get worse.
 
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French Car Maker Struggles In North America. Seems like I might have seen that headline somewhere before.
 
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