Stellantis' US Sales Plunge Again in Sign of Deepening Woe

[mahatmakanejeeves]

Stellantis’ US Sales Plunge Again in Sign of Deepening Woe
• Third-quarter total was lowest since company’s 2021 merger
• CEO Tavares is struggling with weak demand, dealer unrest

By Gabrielle Coppola
October 2, 2024 at 9:25 AM EDT
Updated on October 2, 2024 at 9:42 AM EDT

Stellantis NV’s US sales plunged 20% last quarter — the fifth consecutive decline — as the beleaguered automaker struggled to tame bloated inventories amid high interest rates and softening consumer demand.

Deliveries fell to 305,294 in the three months ending in September, the lowest level since the company was formed from the 2021 merger of Fiat Chrysler and France’s PSA Group. Sales declined at five of its six brands, including a 6% slide at Jeep and 19% drop in the Ram truck division.

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[Warpy]

1. Not surprising, big car sales tanked in the late 70s and early 89s and for the same reason

Inflation.

People fix their old cars or buy used cars instead of buying new ones. It doesn't last forever, inflation is already slowing. Suburban cowboys will again buy their oversized trucks People who think the military is cool (but not quite cool emoigh to join up) will still want their Jeeps. Farmers will be waiting for those oversized pickups to hit the used car lots because their trucks work hard for a living and will need to be replaced.