Stellantis files for bankruptcy in China
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- Опубликовано: 3 ноя 2022
- Stellantis files for bankruptcy in China
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It begins… 😬
A lot of companies are going to have a Kodak moment
Congrats eViking for having 100,000 subscribers now (Silver RUclips Creator Award).
BMW owns a car company in China 100% by themselves. It’s called Huacheng BMW. After Huacheng Group filed bankruptcy, BWM purchased their entire shares.
Congratulations Sam on 100K subscribers! You will have to post the RUclips plaque on your wall for a future video :-) Great content as always!
Thank you! Will do!
*Both* PSA and FCA had joint ventures in China, so when they merged to form Stellantis, it was inevitable they would cut the weaker of the two joint ventures. That's a good thing - it shows they are serious about cutting redundancy. Their future profitability is all about cutting redundancy, including cutting redundant car platforms with a plan to eventually produce all their cars on just 4 shared platforms! But it's going to take years for them to retire all their old redundant platforms, duplicate contracts and joint ventures to expire, etc. I say kudos to Stellantis for looking past the next quarter and restructuring to be stronger in 5+ years.
Old car companies are like soda companies if consumers realized sugar and artificial sweeteners were horrible for one’s health.
Asbestos, cigarettes, next sugar sodas and refined carbs.
👍🏼😂👊🏾
Not a great analogy as it's well known sugar and artificial sweeteners arr horrible for your health yet plenty of soda is still sold everyday.
@@Ry-lx2kl most folks don’t know sugar is worse than fat and that it causes obesity and heart disease as well as cancer tumor growth. Artificial sweeteners foul up microbiome .
@@oldroscoe2590 horrible examples. Asbestos yes, since there are alternatives. Cigarettes and sugars? No, we've known they're horrible for your body for decades now. Addiction isn't something people choose to stop. Cigarettes are $40 a pack here in Australia and people are still smoking.
Choice and addiction are not the same.
The scary thing is when companies like this, and Toyota, say their cost to build EV's is too high. If you can't make a profit, you're doomed.
There are bankruptcies and bankruptcies. If a bankruptcy puts a business in limbo for a brief while, clears out dead wood in management and re-establishes the business on a more credible financial basis - difficult but not impossible - it is a challenging moment that can nevertheless lead to a positive outcome. Unless GAC continues to have rights to manufacture some Stellantis vehicles (for a while) at the facilities of the now terminated joint venture the odds of things working out well, though, are pretty low.
Diseconomies of scale are going to shock these companies very fast.
@@chris27gea58 no they’re pulling out because of political tensions with the west, they’ve already stopped production of Jeep and the Joint Venture will be gone by end of the year.
Toyota doesn’t like or want to make Ev’s
@@phileasler5401 If Toyota believes customers don't want EVs then they should stop wasting their time making bad ones. If they are right they have nothing to worry about.
I, alone have viewed you a million times. Your worth watching.
Thank You!
and the Purge of the Unworthy begins.
Happy 100,000 subscribers Sam!!! More people are finding out that you are the best source for EV news in the world.
You are an expert reporter. Thanks for these videos.
Great work! Hello from the Gold Coast.
Hey, thanks!
Nice work Sam 100k subs, kudos mate 🤘🏿
Thank you 🙌
Stellantis cash position could allow them to be more aggressive and go deeper into battery manufacturing plus focus on a few potential winners for EV transition like RAM...but there would have to be a willingness to drop brands and let them die as ICE only.
Stellantis was right to leave the Chinese market. The Chinese government favours Chinese companies at the expense of foreign manufacturers (European, Korean, American and Japanese), which has led to a decline in sales of foreign manufacturers, German and Japanese, for example.
CONGRATULATIONS 🎊🎉 ON 100,000 SUBSCRIBERS!!
Thank you!!
Preach brother!!
Congrats on the 100k!
IN MY OPINION!!
Rather than buying old car companies I am buying the 3D print sector, although the (new) customers from the 3D print sector might go bankrupt, a restart is most of the time always possible because of the too-big-to-fail argument governments always give. The same is with airlines and all other sectors that are dangered by the transition.
The 3D print sector is probably to become the new backbone of everything. No risk of bankruptcy compared to buying the old OEMs.
Old OEMs have great things coming but high change a restart/restruction is needed by a lot of them.
IN MY OPINION!!
Nano dimension is 2 years from capitalizing on their acquisitions. 2023 new printer design that goes from raw materials to final product.
Stellantis will start manufacturing their first bigger full electric cars next year, so now is to time to invest them, if you believe their success. At least their full electric partners are impressive Amazon aws, Qualcomm, Foxconn. They cooperate with Mercedes with battery technology and for autonomous driving they partner with BMW.
I’m not a big fan of SUVs but do like the Jeep Renegade. An EV with the same performance would make a great car. Ditto the old 169 Panda. But hold your breath.
Jeep's problem in Chinese market is less about EV vs. ICE. than not keeping up with competitors. Not sure how long Citroen is able to hang on either.
Selling all my TSLA stocks and all in on Stellantis
Stallantis has to start somewhere. My wife and I love the Jeep form-factor for many reasons and have had 7 jeeps leased in a row. If someone else buys the brand and provides identical durability feeling to consumer, 400 mile range EV, good-bye…
We are in a worldwide recession, high inflationary pressures with high interest. Nothing at all to do with EVs. Some crazy logic.
Stellantis have some great brands under their umbrella. Sadly they are mostly ICE focused so their long-term future looks sketchy. Most concerning was their CEO's statement (some time ago) that they couldn't build EVs profitably and that they couldn't pass the costs onto their consumers. Assuming the guy knows what he is talking about, this then must surely spell disaster for Stellantis.
With investing, perceptions are far more important than facts. On the short term.
Great insight Sam! Just learned of your channel a few days ago now and absolutely have interest in getting an EV. Looking closely at the Lightning and on their invite to order list now.
What do you know of Lucid? I believe they are or were mainly into EV battery development and manufacturing but have recently (within last few years) began developing their own cars now. Have anything good or not good to say about Lucid?
I've been watching their stock as it has gotten quite low like nearly everything. I bought a couple shares just for something to do.. lol! Their battery development seems like nearly height of innovation and their getting undoubtedly much better range on their cars than many competitors... but I haven't really compared specs. I'm certain they have larger batteries and seem aerodynamics are intertwined closely into where they are getting such high efficiencies from.
Curious if you've covered Lucid or would care to cover them in an upcoming video? Really enjoying the content here. Nice work!
It begins.
IIRC, Citroen is part of Stellantis. The Citroen AMI is an all-electric vehicle. It's classified as a quadricycle but is perhaps more of an urban EV than all current ones. Its top speed of 28mph is sometimes faster than cars can actually do in cities. The RUclips Channel Me & Mon AMI has been very popular and spread the word about just how capable a vehicle it is. Most people will dismiss the AMI but it's actually something like the oversized and human-killing RAM whose days are numbered. AMI's market is currently constrained by limited production at its Morocco factory. Citroen isn't ready to turn out the volume necessary for it to make any sort of chart. But I believe they will some day.
If they were aware of the problems in China, and failed to keep the stock market informed, that - for an Australian company - would be an offence under the Corporations Act
Sorry but I feal that ice is my next car. Got one more new car in my lifetime only doing 5k miles a year, the shear cost to update my home electric supply and install a quick charger alone would be the cost of a small ice car and than I would have the cost of the Actual EV.
I just can not justify such cost on a low wage . I can only see me driving for another 10 years until I'm 70.
The government forcing all chargers must be of the smart type due to concerns of surge overloading the network, making the granny charger illegal,we already have scaremongering from the government of power cuts over this winter and EVs are not that popular yet. Saying that I'm off our later today to have a look at the Renault Megane E . I'm not anti EV it's just costing in the real world of a low wage working person. In Real terms most people in the UK can only afford £10k on a car.
For some users, EVs make no economical sense. But beware of maintenance costs with ICE so if buying second-hand, be very wary of the car condition. And of areas where ice cars will become forbidden... like ZFE in France. This will be an explosive political thing.
@@coguglielmi even if you buy EV your still going to have to have it serviced , not because it needs it just because companies won't want to give up that lost revenue ,and will need that magic stamp to maintain the 7 year warranty. My 5 year old pug 3008 still runs no issues I do take out a Peugeot extended warranty just because of the cost of possible repairs
@@coguglielmi you're right, david could totally save the 3 or 400 a year on ice matenence costs by spending 80k on an ev 🤓🤓
Wow. Your crystal ball seems to be correctly calibrated.
100k well done for the hardest working RUclips on the planet!
Thanks a million!
Sam, please do an end of the year recap of auto news in China to sum up the companies that couldn't make the cut in China and the numbers, growing and shrinking numbers of the sales/manufacturing for the year.
Hi - I've seen other video channels also talking about being able to see videos in advance by paying for patrean etc. but what I don't understand is why that is desirable. Have people got such empty lives that they sit around going crazy waiting for a new video to watch when there are hundreds of millions available now on RUclips? Very odd!
I AM SO IMPORESSED WITH YOUR WORK ETHIC!!!;) SO IMPRESSED!!!;)
Thank You!
Some of these legacy automakers will have to just start slapping their brand on Chinese electric vehicles because they are not ready to make them. All brands are going to experience a reset and only then will we find out what brands really have some value left. So it's not just about cars it's about brands.
Peugeot 🇨🇵since1810 / 1891
I am hopeful for the RAM. I think it could be a coup for them if they produce an electric version of the RAM 2500 as no other electric vehicle manufacturer offers a heavy duty pickup. Especially if it can be equipped with a gooseneck/fifth wheel hitch. That would make the delay producing an electric vehicle a good strategy.
NO EVs!
Holy god, how did all those known brands become 'cousins' in such a massive conglomerate as this? Great names like Citroen, Jeep, Ram, Maserati, Fiat,Peugeot, Opel, Vauxhall, Chrysler........most of which now may be snapped up at bargain basement prices by Chinese companies. -- Unreal..
Some of the sub-brands really do b-EV: Renault-5, Renault-megane, fiat-500, Opel-Corsa, etc etc.
What about the huge battery factory they they are building in Windsor Ontario. They received grants and loans from the federal and provincial governments. They have electric Jeeps, Rams, cars in the books and are securing capacity to build them.
Put it this way DONT order a CAR from STALANTIS as you will be waiting for a very long time I've been waiting 14 months with no end in sight not even got an order position so I or the dealers have a clue when it will be, made or delivered apparently the wiring loom for my car was made in Ukraine plus other parts I've had the EV point fitted by them for free 7 months ago and haven't heard a thing since then. so be aware and it's not just me thousands are in the same position just check out the number of forums where shoddy workmanship boot spoilers explode in the sun as they had not cured properly parts missing when they do finally get them after a hell of a wait.
Because they dont realy wanna make them because they loose money on it, just like Toyota they eagerly waiting for that battery price to drop.But to get under the eu emission rules they have to sell some.
Just got my Stellantis EV in UK and it was delivered in 4 months. No delays the actual delivery was within 2 weeks of the estimate.
Honda needs an all electric Civic and accord
There is an electric Wrangler.
There are going to be some big losers, they will fall like a house of cards. Brace yourselves!
Phoenix - Tesla's everywhere. Was in traffic last night behind a Rivian & Model X. But what I want is a... E208! Bring it to US, #Peugeot! *(How many of those 208's were E's?)*
Not going to happen
Small cars dont sell in the usa, atleast ul get the jeep avenger which is basicaly a rebadged e-2008
It is happening... For me. (EU to) Mexico residence/plates is cake & you can drive in US for a year. Beats bland $50K Model3 & weak Mini.
Also, Bolt is only 3" longer than 208.
here it comes, changes are coming
Michael Scott:" I, declare, BANKRUPTCY!!!"
when the Cybertruck scales up stelantis is dead
European electricity prices alone will make hybrids a more interesting choice than a pure EV, also EV car makers are facing a commodity crunch ahead, higher oil and particularly diesel prices are bad for mining, and mining all that nickel, cobalt, and particularly copper will require a lot of it. More subsidies will be needed at the time that governments are feeling the crunch.
Not disclosing a bankruptcy in the annual report? Is that legal?
You should have pointed out that Stellantis, and before that PSA abd FIAT, was always pretty weak in China, that wasn't a secret.
Tavares is just focusing in Europe and US, and LATAM too.
Fiat created the original boxy shape Panda for China. But the Chinese refused to pay for the factory, so the car was made in Europe and became a smash hit. Ever since, they’ve not really bothered with China.
Solange China unberechenbar und sich zu Rußland und Nordkorea hingezogen fühlt ist es das allerbeste dort nicht zu investieren . Stellantis Tradition ist Europa Peugeot Since 1810/1891 , Fiat 1899 . Opel... und die USA Jeep, Dodge, RAM, Chrysler
The Business Class have been wreaking havoc on the English Language for a while now. Knowing that they're adding -alities to the ends of words, willy-nilly, would not surprise me at all. Net, net; double-bottom line, win-win; know what I mean? ;-)
The dominoes are falling and it is happening even faster than I predicted. By 2025 it's going to be a different game with fewer players. IMHO.
Earnings in 8 years? None. Probably already gone by 2025.
Hiding profits is a global sport. Asking for subsidies during hard times is also a good practice in automotive industry.
It's a stupid name, and a stupid name will remain unlikely to take the world by storm.
I would argue their financial situation gives em advantage over other legacy manufacturers.
First to fall in the most competitive market for EVs, just a sign of what is to come!
But the q3 numbers looks good elsewhere, theyre ev sales are up but they have same problem as Toyota, the profit of their ev`s are too low.
They are making Cheap Jeep Wranglers in the U.S
Fenders with cheap clips & cheap bolts & nuts, Removable front roof cheap seals
Making Billions & using cheap materials
Except for Tesla who never had a Joint Venture, the REST of the major Western players set up the joint venture's before the rules were changed so they don't benefit from the rule change
Tesla shanhai is a joint venture with the ccp, which inevitably will become byd shanhai when the ccp takes it over and kicks elon out.
Didn't Tesla have a deal with Toyota in the early days?
@@paulstubbs7678 RAV4 batteries were made by Tesla for Toyota, but I meant inside of CHINA with the government for profits and technology sharing, China invited Tesla in to steal their ideas, and it's been a good deal for Tesla and China unlike the deals with the legacy makers who are lazy who had already switched to designers / systems integrators, dependent on hordes of unreliable suppliers and can't even put the badges on their own vehicles now
I don't see Stellantis can compete with the like of Tesla and their own domestic companies like X-Peng, Nio.
STLA is also commenting on EV being to difficult for them to produce at proper cost.
And they should get more time to step of ICE. We'll at least the got a EURO7 that's not more restrict than previously. Their ICE lobby payed off.
They are going to be the third car company to go bust. First is Toyota, second GM.
Interesting stuff Sam, Add NIO to the list of Stellantis & Tesla that can pay off all of their debt with their cash reserves.. NIO has from Q2 $8.1B cash, $1.8B debts, & Q2 loss of $409m. Q2 revenue of $1.53B.. So after all of NIO's debt is paid off they have enough cash at current cash burn rates to last them until Q2 2026 or 15.4 quarters!! If you are still a shareholder?? How did you not know this & fail to mention this? Tesla Viking??
Just pray to god for peace, bcz if a conflict will happend your shares are 0
@dmm6671 Would take a hit, but would still be OK.. I expect the worst hope for the best. 😊
Good news for Ford. Ford will sell a lot truck and bronco in china
This company won’t even be around in 2030, no way. All the have is the Jeep brand and they are destroying that.
@@stephen10. nice cut and paste from a company new release. Lmao
🤔 Is STLA the investment bizarro world backwards twin of TSLA? 😋
Stellantis sits in Europe, overloaded with ICE cars plus some EVs which it hopes will save it. Meanwhile, the MG4s and BYDs are being offloaded from ships in European ports.
People say we don't have enough "blank" minerals for EV batteries. Do we have enough oil to last forever?
We might run out of minerals before running out of oil.
Obama pushed Chrysler into the arms of Fiat in 2009 (during the GFC) to lift it out of bankruptcy and form Stellantis in order to save 150,000 UAW union jobs. It's complicated by the fact that the UAW health fund owns 55% of Chrysler (plus $4.6B to be paid to them over the 13 years since). If Stellantis files for bankruptcy in the US, there is more at stake than jobs. It is also the retired UAW workers health funding. The Democrats will definitely bail them out (again).
I am less down on stellantis. But they do have far too many brands, many of them with a perception of poor quality. There needs to be a shake up within the group to focus on the best of each segment. One thing they have going for them is the drive to share their platforms across the brands so keeping costs under control. It's 50/50 for me on long term survival of this company. I would not be surprised either way. But not in the structure we seen at the moment.
@@stevenjones916 it will really depend on price I think. The Chinese brands will undercut them by a margin so will brand familiarity be enough to keep them in business? Possibly.
I hope to see some discontinued brands being revived in the future! ♥️ Btw I totally dislike Ford going with VW!
@@DG-hw8it I suspect that there is going to be a lot on consolidation in the market. The economics are clearly going that direction.
With rising interest rates, their low level of debt, or rather the high level of debt of their competitors, may help them as well.
"Marginalities". That's hilarious! I'm going to have to use that one at some point.
I rather like it actually! ;)
It's a new economy, to maintain marginalities every company needs to revamp their strategeries.
My wife works at Stellantis. This video will shock her
Pity you didn't comment hear after showing her the video rather than before.
Lots of numbers in there Sam and no visual aids. But I get it. 🙂 They're "dead in the water". It's an ICE graveyard. The low PE says investors know. But a convincing plan would turn that around.
Marchionne was a very, very smart man, but completely wrong about EVs. Alas, Stellantis Group has followed in his footsteps.
EV disruption was just the tactic the chinese used to put all European brands out of business.
Seeking Alfa 02.11.2021....As Stellantis remains ultra-cheap, with about 125% upside based on fundamentals, I upgrade STLA stock from 'Buy' to 'Strong Buy'
I guess alpha stands for immense loss then...
Play it safe and buy Adidas and Philips instead! Good luck...🌻
They are so blind
ITS NOT THEIR FIRST BANKRUPTCY 😂
To sum up my thoughts, I believe these legacy auto makers who are lagging behind on the EV movement still have a bit of time to catch up, only if they really decide to. I don't think investing in at least a few EV factories and production lines will take them that long and cost them that much, after which compounded with the auto protection from each of these regions (NA, EU, JP) they will still be in a solid position regardless to fight back.
However the real difference will come from most other regions that can only import cars, by then their market shares will be at least eaten up by the Chinese EVs, just like what we've just seen, ppl in Thailand even lined up in midnight just to get a BYD Atto3
Sounds like Stellantis is planning to build ICE cars, then retrofit them to EV. Ergo- double the cost as they have to build each one twice.
Imagine what is going to happen when Tesla starts dropping prices in the US and other markets. Jan. 2023 is going to be very interesting.
If these Stellantis goobers made the Jeep Gladiator as a ground up UV, I would definitely be a buyer. Otherwise they really don’t have product I care about. But I expect to see them bankrupt before they do the right thing. (Maybe Tesla buys the Jeep portion out bankruptcy just for the model names. 😮)
Just invest in Enron
1st Wicket down
Stellantis higher management is one of the most corrupt by the oil industry.
That's the exact reason for which they stall their corporation's EV development.
In general, in the whole world, that's the main reason for the continuously delay of the mass production of very useful and affordable EV for masses, specifically: OIL INDUSTRY, OIL CARTEL!
This OIL CARTEL is exactly like a MAFIA CARTEL, corrupting the highest car manufacturing CEOs, politicians, etc.
Just wondering what you think of the Opel Mocha and eVivaro?
Oh no! Stellantis is going bankrupt somewhere. What a shock. Pretty much all of the legacy car companies will go bankrupt. The only company that may not is GM, but odds are they go bankrupt too.
For many of us who are tunnel visioned with tesla. Vs all ICE. mom one knows what or who Stellantis. You talk about them all the time. Have you done a video explaining who the heck Stellantis is and where they came from ????
Too diverse, too old, too small, too slow, too bad software, too confused
French are totally dominant in all their former colonies...🌻
Except for Canada :P
@@danielstefanovic2604 Don't tell King Charles 🥰
Are you using other people's vids as background footage?
I'm sure it's "fair use" but do you at least want to use thier B roll as your B roll and not them talking to camera?
Just highlights what you're doing a bit too in your face
Have you seen mad max? Thats how it is on the bottom.of the world.
Yea he’s used mine a few times at least. Pretty crap tbh, at the very least should prominently link it in the description and put the name of the source on the screen.
FIAT fix it again tony, pulled out of the U.S. for years after terrible body rust problems. Peugeot a non factor in the U.S.. Citroen an oddity in the U.S. not currently sold. Alfa had a small following with mostly spiders. Ferrari and Maserati ultra expensive exotics most americans need not apply. Stellantis in the states has to rely on a very clannish Dodge car division, that are now pushing cheap high performance cars and Ram a truly rising star in the pickup truck market. I hear that dodge is planning on adding a performance exhaust sound on it's future electric cars. Stellantis is looking at a extinction level event with the rise of electric vehicles, most of their cars, live in mythical high performance generation from the past.
Here's a plan for Stellantis: Accumulate as much debt as possible and, at under $200/share, use that to buy up as many Tesla shares as they can. Then start selling off assets and use that cash to buy up more Tesla shares. When the Tesla share price goes up substantially, leverage those shares and buy more Tesla.
It's a simple strategy, but by doing this they'll soon be the second most valuable car manufacturer in the world.
Just wait for ev mania to stop🎉
@@dmm6671 Adoption takes time. Generally cars have to die before they're taken off the road, and this takes time for the whole fleet to change. It is happening though.
This EV mania is not going to blow over. The fact is that EVs are cheaper to run, so they will win and ICE will become an unused technology. It's inevitable.
When the new fangled automatic windows came out they were just for lazy people with bad attitudes, then most new cars had electric windows, then all. Today you're hard pressed to find a manual window winder.
It's just how the world works.
90% of Australians are struggling to make ends meet and you're saying 100k electric vehicles are cheap? That's why they're all declaring bankruptcy because we the people are bankrupt.
@Random Human MG4 is already at price parity with ICE vehicles. And something like the BYD Atto 3 is cheaper than the similar sized VW tiguan. EV prices will only come down as they scale up and technology improves. At the same time ICE vehicles will increase in price as less of them are sold, not counting further increases in petrol/diesel costs as those supplies decreases.
Ewmism- your comment starts with two false statements. That’s why your conclusion is wrong. What’s the negative emotion that is driving the false statements ?
Its totally worth it man. Aussies can live IN the electric cars. Its both home and car, talk about win win. Elon musk is a modern day leonardo davinci!
90% are struggling? $100k electric cars? Which world you living in?
I doubt your % is correct
We must short these guys or buy long dates put uptions
Trump 2024 horse and buggy baby!
Old moldy brands that have lost their authenticity and in with the new brands that embrace new technologies and afoot into current and future needs. Gas auto’s have become anachronistic and out of place.
Fit*
Stellantis sold 105,413 EVs in the first half of 2022 in Europe, significantly more than Tesla's 78,277 and around 11,000 behind Volkswagen's
Not sure how long Volkswagen will survive the onslaught in China...not that long for sure.
Clearly Stellantis is still alive and Kicking.
But Berlin hadn't yet - and to be honest, hasn't still - ramped-up its production while deliveries in Europe were depending on China exports, just when China was in a crazy 0-Covid policy implying shutdowns directly affecting Shanghai's production. Wait until we have the full year numbers...
yeah but im pretty sure tesla made more profit on those 78 000 then stellantis did on those 105 000.
Sold 105k and every single one at a massive loss.
and lost on every unit. so....your point?
@@kuznacbendelejev6924massive loss surely not, but minor loss possibly still that all depends how much premium they have to pay on the batteries which they import from China and/or Korea.
Stellantis seems to can't penetrate China, I think Chinese automakers can't much penetrate Europe too.
I beg to differ! I'm pretty sure a tsunami of Chinese vehicles will come all over Europe in the next two years.
@@johnsmith-cw3wo Had to kill the iPhone killer...😁
erm, the majority of parts in those 'European'-made cars....actually come from China. While the name brands are being kept at bay, they have already infiltrated Europe, America and the rest of the world.