Stellantis Shocks Market With MASSIVE Inventory Cut! Shareholders Being Warned!
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- Опубліковано 1 жов 2024
- Stellantis has recently revealed that they intend to massively cut inventory in the hopes of increasing profits and long-term sustainability. They are warning shareholders that returns will be low and the company is expected to have as much as 11 billion in negative cash flow. The company is aiming to have inventory levels at or below 330,000 nationwide by the end of the year. Do you think this move will help Stellanis turn things around?
Here is the link to the Bloomberg Video with Carolos Tavares:
• Stellantis CEO Says ‘N...
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Tavares is cluess. The interviewer was spot on when she said “…the consumers are rejecting the government push towards the EV models.” 8:02. He thinks that consumers are more concerned with the affordability of EV’s. No Dude, the majority of American consumers don’t want EV’s, period.
EVs make up 9% of new car sales in the US. They sell... they are just expensive and affordability is a huge issue (much like how frigging expensive new trucks are). i.e "August 2024 The average ATP for an EV was $56,575, while the average ATP for a gas-powered vehicle was $47,870"
@@voxel999I see your points but 9% of new car sales still translates to "The majority of American consumers don't want EV's, period." If they're made more affordable then sales might increase to 10% of new car sales. 😂
The ev market doesn't hold up to its claims, via range towing capacity, not to mention all the recalls
@@briandonald It's not that the majority of American consumers don't want EVs, it's that they suffer from 'range anxiety' - "Will this vehicle strand me?" "Can I get it charged it a nominal amount of time?" EVs have some more tech hurdles to overcome, but once you have a good nationwide charging infrastructure in place, and the costs of EVs drops a bit (there have been price cuts on many EVs), more people will turn to having at least one EV in their garage next to an ICE vehicle. The reality is that the average range of certain EVs is pretty much what most people drive on the daily, or less. The only problem is with those who are apartment dwellers or live in townhome developments--it would be near impossible for them to get an adequate charging setup, unless their homes had outside electrical plugs, but then who wants to navigate a whole bunch of electric cords across a sidewalk. I think incentive vs mandate, would be the way to go here.
Recalls for ICE Vehicles are just a bad, with the Big 4 including Toyota which is a surprise.
They have screwed customers the last 3 years. Why would we come back?
I would NEVER buy a $100k+++ Dodge vehicle.......NEVER
The only thing that will help them is to stop building vehicles consumers DO NOT WANT!
The arrogance of these CEOs....
They build vehicles folks want - Grand Cherokee and Wranglers... but they price them $15K more than people are willing to pay.
@voxel999 Mopar people don't want electric...
People are willing to pay well into the 6 figures for a damn corvette because it's what they want....v8 supercharged... that's what I'm referring to if you actually thought for a moment
Give us what we want and people will still pay for it
@@voxel999you are correct about pricing. I have owned (purchased not leased) a Jeep Liberty, Jeep Wrangler Unlimited, Jeep Grand Cherokee High Altitude and currently own a Dodge Charger Scat Pack and a Dodge Durango RT. The most I have ever paid for a Stellantis or predecessor product is about $60 grand for the Durango. I’m sorry but I’m not paying more than that for any of these vehicles. Every one of them has had recalls and issues with engines, A/C and radiators. These vehicles are not a reliable as they should be. It was one thing to overlook issues when their cost was around $40 grand or less. Not at these idiotic prices. As for an EV , not going there for another 10 years or so.
Fleet Managers are the ones whom order the vehicles, When I used to sell DCJ products I would order 10 base models, 10 mid grade and 5 top of the line and I would sell off everyone of them.... We never sold over MSRP unless it was do to the peoples credit and unfortunately their interest rates were abysmal, I had a couple years ago who wanted a 92 Grand Caravan SE their credit wasn't so great I worked out a deal too good to be true for them, got them financed and they were customers for life, well in 2009 they both passed away days apart from one another married 65 years. I do agree with you though the prices have gotten way out of hand and that just isn't DCJR Products that is everybody !!! Now with this Dock Worker Strike and they are wanting 70% higher wages over 6 years that is going to drive up prices for parts mark my word.... Shit needs to cease.
When the CEO realizes that a JEEP is not a LEXUS/BMW.. maybe things might turn around for him.
It might be a Nissan though
Saw this coming two years ago when they announced last call, limited allocations, and allowed dealers to markup prices beyond MSRP. Now they finally see the light? They should fire that CEO!
When a CEO says they are stepping down, they are being fired. The terminology is less harsh which is better for business. It will also make his golden parachute easier for shareholders to accept.
@simpleman72685 Just listened to this a second time and I didn't hear him say he was stepping down?
I call bullshit on this news! They're not going to discount anything, they're just going to offer them at the price they should have been offered to begin with. What a joke. Just walk accross the street to the competition and let Stellantis' inventory rot on the lot, like it rightfully should.
💯 correct. They will never go back to pre-covid business practices.
We have to fight for 20k off stickers. Fight for lower interest rates. Fight for warranty repairs. Recalls. Pay 350 bucks for lug nuts. 700 for nitro tires. The 25 ram only replaced the engine. For 30k more. No takers.
What do they expect when most of their vehicles cost the same or more than what the average American makes in a year. Also the quality of vehicles has gone down significantly.
MAKE THE. CUSTOMER HAPPY AGAIN 🇺🇸🇺🇸🇺🇸
I'll believe it when the dealers I've been negotiating with changes their tune. Incentives and minor discounts don't bring it back down to NORMAL CDJR prices.
Sell at 25 percent reduction, and 0 percent financing!
Then they actually might be competitive. My 23 Grand Cherokee at $57K is feature wise the same as a $42K Telluride or Palisades. And folks still might pick the Telluride/Palisade instead.
25% 😂😂 more like 40%-50%
Awe no more suckers left? Thats so sad.😢
The problem is not the sticker price; it's the dealer markups. How do they expect to sell a $30,000 vehicle if the dealership is going to add $20,000 on to it, and they're legally allowed to do so?
No, it's the MSRP.
What are YOU TALKING ABOUT….. ? There ARE NO $ 30 ,000 dollar NEW VEHICLES on STALLANTIS lots …closest think they have to that is an entry level hornet ~ and THATS the WORST SELLING VEHICLE in there lineup 😒
Markups are long gone. Like since late 2022. In fact, if you aren't getting $15K off a Stellantis product today... you got a terrible deal.
It’s both. These cars aren’t worth the price they are asking for. Almost 100k for hellcat/redeye is crazy, you might as well buy a bmw or something luxury for that price
@@demonNthesn0w There's no markups now.
The only thing that will turn stellantis around is to bring back the Hemi engines
You mean fire Carlos Tavarez ??
The second coming of Christ is more likely to occur than the return of the HEMI V8 engine in ANY car from a Stellantis brand. (dead horse)
those pesky consumers not supporting the marketing shoved down their throats
Marketing is always being shoved
We have a ton of discharged and dead batteries and stellanis just shrugs their shoulders and doesn't want to pay for them
How could you trust Carlos Tavare's he does not even take care of his Teeth 😅
Carlos Tavares MUST resign. He's driving this company into the ground. I USED to be a Jeep/Dodge owner and believe me, there is no reason right now for me to buy any of these cars. MSRPs are through the roof.
You get what you pay for! I won’t be buying a vehicle from a company that has run its business so poorly!!
3:36 what the ceo means that the government didn't mandate we pay for their marked up dumpster fires
They can't cut inventory if nobody buys.
It doesn't matter how much they lower the prices, they are still overpriced with such POOR QUALITY. Endless money pits on depreciating liabilities!!!
I'm seeing loaded 2024 Ram 1500 warlocks for 35% off msrp. $34,000.
Please show me where
@@williamrose7184 Minneapolis
@@williamrose7184 it probably has over 100k miles 😂
And when you show up to the dealer they tack on 20k 😂
Gladiators are 25% here in FL. Nobody wants them.
It's the beginning of the end.
This all boils down to pure stupidity not arrogance just being stupid , wasn't he at Nissan when they almost went under 🤔 and the CEO fled the country 😮
They jacked the prices up since 2008. Only cost on vehicles were valve problems.v6 V8. 2006 300 costed me 18,000. Baseline. Before taxes. With the employee discount special.
The disconnect from stellantis is huge. Very little options as far as choices, and whatever choices we have are just overpriced by $5-10k MSRP. But I know this was their plan all together. They don’t want to build here in America when they acquired fiat. They want everything built overseas in Italy.
My opinion for stellantis end goal:
Still force EV with little to no other options..
Lower inventory (to make it harder to find what you want…hence force dealer markups again)..
Higher MSRP ..
Force people to pick from limited brands (like dodge and ram have only one model)..
Force unions to cave and all products are built either overseas or in Mexico)..
I think it's simpler than that... to appease shareholders they went with "higher margins, lower volume = bigger profits."
The problem is... their high prices basically CRUSHED sales as competitors have tons of new car supply that is of good value and honestly I can't think of a single Stellantis product at MSRP that is good value.
While we're all here, the hemi was an iron block cam wiper that's over 20 years old that needed to go.
I would've been fine with a 4.0 turbo v8 but some of y'all have hemi brain.
The can discount prices and drop finance rates to zero percent across the board, affordability was just one of there problems, reliability is an even bigger problem. With the amount of problems throughout DCJR entire line up and so much of it broadcast publicly, the vehicles sitting for over a year, banks hesitation to finance alot of their vehicles, it's become a disaster and it all falls on Carlos.
Less vehicles but at outrageous prices is the new business model. They learned during covid that they could make profits catering to the top 10% of wage earners. Plus the wannabe ballers trying to impress the neighbors. They will never go back to building affordable vehicles.
Less vehicles = less factories, less salesmen, less dealerships, less recalls, less warranty repairs, less factory workers, less health-care cost. Just keep prices high for the few buyers. That's the plan of all the big manufacturers.
Stellantis just destroyed dodge literally and looks like on purpose to push their personal crap cars on us
Stellantis needs to get a new CEO in the style of Porsche's great visionary CEO Wendelin Weideking. He turned Porsche around from $300 Million annual to over $20 Billion, by eliminating most of the product line that was underperforming. The company is trying to build cars the public don't want to buy.
Stellantis needs to take the model price from five years ago, and calculate what the current price would be with inflation. Then reset the MSRP’s on the current inventory to that adjusted price. This at least would have people considering buying a vehicle.
After that, maybe offer a more robust warranty due to quality issues, and offer low % financing.
As far as Hornets go? Maybe they can pawn them off to car rental companies for a discount? 🤷🏻
But there's that dealer markup
Will Stellantis do all of these things? I don't trust them. They may say one thing, then they'll do the exact opposite. They can say "We'll lower the prices on these vehicles for the consumers to buy. And we'll raise the incentives." But will Stellantis actually do that?
Take the hit, Stellantis: 45% off MSRP for Chrysler/Dodge - 2023-2024 MY, all vehicles; 50% off MSRP for Jeep/RAM - 2023-2024 MY. From now till the end of the year. Requirements - you need to be able to cover tax, tags, title costs as money down. Just my thoughts.
Hurry, Hurry, come buy a Wrangler 4XE so you can park in outside during the winter and make s'mores (batteries will catch fire).
Funny. Politics , people are consumers. Customers. Cost to consumer can sink or raise a business.
Stellantis is 14 brands and Chrysler cant even have a rebaged anything to add a model. What has these foreigners been doing for 2 years. Ford and and chevy has v8s yet Stellantis has none. Gms are cheaper and Stellantis went up 30k on msrp.
If dealers still want to screw people, what good will it do?
I've seen 2023 vehicles still on the lot. Some were ordered in 2022. Almost coming up on 3 years sitting on the lots. Its ridiculous. They need to do some DEEP discounts. Like 20 to 40k off on these 80k + vehicles that are just sitting
Lowering the price of 22-24 on lot vehicles with incentives is great. One must remember that these vehicles were built with cost cutting in mind. Great out the door prices but one must watch out for the subpar parts used in manufacturing them. One must negotiate an extended warranty or they will regret the “cheap” out the door price.
Have they lost a year of warranty before its even sold
I believe the 3yr warranty starts once the vehicle is sold. I think 🤔 don’t quote me though.
Price them lower....
Reopen Belvidere and make a car that is union made and has a high domestic content like my 2018 Jeep Cherokee, which has been a stellar car.
Thanks so much @RacerX. You stay on top of the latest news and updates from our car brands. 👍🏾👍🏾
They also need to bring the factories back to the USA to help us on these import taxes.
🏆Racer X🍀you're the man 👀✌️
Thanks Harold
The average consumer in America doesn't want to buy a $80K half-ton pickup truck? Whaaaaaaaaat? That's shocking!
You know how you can tell a CEO is lieing to you just like a politician there lips are moving. I'm saying B.S. and claiming the top bunk.
Lot rot, not rot lot...
Let's be honest..Carlos is a fall guy so let's not just put this on him alone. Tim Kuniskis should be under charges, lying to stockholders...FYI their sales were never that high, that's why board members are suing for Tim working with dealers to overstate units sold. This is why they are where they are.
Waiting for those ram trx prices to come down 😊
im waiting to get an rt, dealership wants 36-40k for a used one.. lol gtfooooo ill wait a lil bit longer, i bet they drop like crazy! At least I hope
Respect to CEO for correcting woke interviewer on EV, he's spot on. Very few want them except for woke governments, period.
YOU MAKE OVER $40MILL A YEAR & YOUR TEETH LOOKS LIKE SNUFF SPIT?🤔 WHY CARLOS? 🤔
hopefully, not too little, too late for the future of the poorest managed automobile producer
Problem so easy to solve. Cut MSRP by 38%, give 10 year warranty on the junk they are building and offer no more than 2.9 financing for qualified buyers
AwesomeX《☆》Make the Customer Happy for sure🧐I've heard rumors about DODGE returning to NASCAR🤳That would be Kool✌🏼😎☯️
you mean reduce them by putting them back to there original prices? because even at that price now its not worth buying imo
They keep pushing the vehicles we don't want, at prices we can't afford.
LOL The only things they will be selling at a deep cuts are freaking Jeep Renegades and Dodge hornets. Why, Because those are the only POS's they can't sell!
Inventory cut?? But they overpriced then already. Msrp doesnt reflect what people can afford. Let the public decide what these cars are worth
Fantastic video, Bud! Between the stuff going on with Stellantis, and soon to be election, these next few months are going to be interesting! 2025 is almost upon us, and it's anybody's guess as to how the new year will unfold!
We can probably guess, and get more right than Tavares has.
0% if you have perfect credit. 😂😂😂😂😂
Too little too late for Stellantis, in my opinion .
Still ain’t going to sell. I wouldn’t touch one with possible rodent damage after sitting for years their customer service will still suck they won’t fix anything and plus the stealership will just play games and charge add ons
Greedy ass dodge. Whatever they call themselves these days. Junk over priced stale cars.
I have had both a Ford F150 4x4 and currently have a 22 GMC Canyon ATV which pretty well has all the options a Jeep Rubicon has . The Jeep is $20,000 Canadian more than a comparable model from another company. I would love to have a Jeep Rubicon but can’t justify spending that much difference for the same vehicle from another manufacturer. I have had 2 Jeep CJ’s and a Jeep Liberty all were priced comparable to other trucks , NOT NOW .
Great information 👍
Even if they cut the prices in half I would never buy any Stellantis car or truck.
sounds like someones trying to liquidate there inventory I dont think dodge will exist for much longer.
we all know how unreliable dodge/chrysler is even if everyone transitioned to electric vehicles why in the hell would anyone want one from dodge.
if your going EV the only smart option is a tesla they have a decent track record and have the most chargers.
Lets start by getting rid of Tavares. Some years ago we used to buy based on invoice price.not msrp
I loved my 2016 police charger and my 2018 charger R/T. Dodge definitely needs something like the Neon and Caliber with their related SRT models. Something affordable for a small family that can be fun at the same time. I can see the hornet being that kind of car if it was cheaper.
Make it with a hurricane 2.0 non turbo, not hybrid and take the non-essential tech off to keep it simple.
@@rogerrussell9544 that would be a winner for sure. I’d buy one to tool around in.
As of last week, we saw a ram jeep dealer with 10k over msrp even on 2023. Sales guy said they have zero incentives.
I would be livid if I paid MSRP for a Hornet right now.
Love seeing stellantis fail. Love it.
ceo & board are complicit
I really tried to buy a Challenger in 2023 they lost me as a customer forever.
Reap the whirlwind! They created this issue. As much as I love my Mopar's I hope they go under.
Went woke now they are definitely going broke
I feel sorry for all those people who are going to buy those POS cars, trucks and suv. I wouldn’t even take a free one.
Been hearing about prices coming down. But nothing has come down. It’s all bull crap and lies. Dealers will not lower prices.
The hybrids might catch on fire 🔥
In order to make the customer happy. MAKE V8s!!
It’s going to be funny when they throw everything they got at the discounts and nobody still buys anything lol. They could do a 50% msrp cut and I still wouldn’t buy anything with the stellantis name behind it
Wow garbage unreliable dodge and jeep vehicles on sale now that there struggling they can keep those crap boxes
They’re gonna have to basically give those cars away
Cut the price by 50% and now its going to be an ok deal not super deal but just ook.
Doesn’t matter if they give 50% off on all Dodge vehicles, insurance companies are still gonna charge way too much to insurance all those pieces of poop.
Why would any American even think of buying anything from this clown who laid off all of our Americans workers with the Holidays coming soon and the pain he has inflicted on these workers families. Come on America , this Company doesn’t give a s- t about us.
They just cut incentives big- time end of September for rams..
It's like when Obama care came out.
I got insurance for the first time in 17 years...
You assume the net worth of the company can have blood $ to bleed into discounts look at net worth of still Lantis 30 billion with stock so low discounted needed will put negative net worth -- reality
🔥🔥🔥
Make vehicles affordable again!!! That’s first. And yes bring the V8 hemi , otherwise they will be out of business by next year
Dump the EV and bring back v8
What about a motorcycle with a car motor being featured on the channel?
Look at the stock price, disaster!
Buy one get 10 free maybe😅😅😅
Hopefully, with his golden parachute money, he can finally afford to get some dental work done.
Ya! Cut the CEO’s salary.