4 American automakers are in huge trouble as cars gather dust in dealer lots
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- Опубликовано: 18 фев 2024
- 4 American automakers are in huge trouble as cars gather dust in dealer lots
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I'd love a Wrangler. No way am I paying $40K+ for a base model with tow hitch. Ditto for RAM, F150, Silverado pickup trucks. Vehicles are just too expensive and they need to knock $15K off these prices to make them possible for working people, and reducing by $20K might be required. $50K for a pickup, give me a break!
Those aren’t too bad prices, thought you were going to say no way for a 60-80k cars:
@@eplugplay8409 I mean you're right, a fully tricked out F150 is going to run upwards of $60K and $80K would not be unheard of. For people who actually need a truck, like hunters and tradesmen, these prices are just out of reach. I'm holding out for that new Toyota mini pickup coming out next year, hope it's decent for the $25K price.
Most these vehicles are very large and come with corresponding high price. Value wise cars like the model Y tesla represent great value.
It's absurd. I can have my fully rebuilt Chevy K2500 with a high output 5.7L rebuilt again for what? less than 20k and it'll last another 350k miles again...
I just bought a new Jeep Grand Cherokee Summit with a Hemi for 12% of MSRP, with no add-ons. My neighbor wanted a new RAM 1500 Limited and got 15% off MSRP, no add-ons, and both are 2023 models. Jeep and RAM do not offer a Hemi for 2024.
Went to the Ram dealer in FL 2 years ago when the specific truck I wanted was being advertised for $34,000 and listed for about $39,000 .The pandemic was over at this point .It was a v6 with 2wd and the technology package. I was very clear with the salesperson on price and the amount for my trade that was expected. That $39,000 with the market adjustment and ad on extras they refused to remove like paint protection and others the price came to $50,000 , they also only offered us $16,000 for our trade . We took our business to Honda who gave us a great price on a Ridgeline with no markups or extras and we got $24,000 for our trade which they sold in 2 weeks.I have never heard one good review on our local Ram dealers where we live .
And then there is the traumatic experience of buying a car at a dealership, the scam of dealership provided maintenance, planned obsolence, loan scams. I’d ride a bicycle to work if I could.
Exactly!
Fixed Price, Selectable and Transparent Accessories and Aftersales Options and Price, Fixed Rate Loans for all.
Give me a Menu option with all the apparent aftersales, and i tick what i do, and don't want. And don't even try quoting me a window tint for $595, when it costs $150, and it's likely done by the same contractor I can find anyway. So Put $250 on the menu, for the convenience, I might consider it. But try rip me off, and straight no for everything else :)
Dealer does nothing more than facilitate a place to drive a car, and hand over a car.
Nothing More, nothing Less.
@@Charchar18696 You may or may not remember that Saturn tried to reinvent the dealership experience with fixed pricing. It worked for a while and I bought 2 new Saturns that way.
Stealerships are more incentivized than ever to rip you off, screw employees.
Move closer to where you work. And walk.
Mechanics are under pressure to _upsell_
I was a mechanic for 35 years and if you own a jeep you will be spending a lot of time off Road! In the Repair shop! 😀😅😅
I’ve had a 2003 Jeep Wrangler for over twenty years. Never a breakdown. 180,000 miles. I frequently do off roading.
@@efs83dws You don't drive it much. That's a good thing and everything in life is a bell curve. It is possible to get lucky and get a good one then never drive it so it will last. When I first starting my machining company I drove 100,000 miles in 2 years. You are at 180,000 in 21 years. Well done.
I'm one of the unlucky ones, 2014 Jeep Srt with 77,000 miles, the engine went out on me in December, and I've only ever used synthetic oil.😪
Like Range Rover.
88% of the Range Rovers bought over the last 10 years are still on the road. The other 12% actually made it to their destination.
I own a jeep. Totally reliable. Simple, easy to repair. Hasn't been to a repair shop since I bought it. I hope it will last as long as i do. Yes, it is a mid 90's cherokee.
Aren't all 4 the same company? The former Chrysler Corporation, now part of Stellantis?
Yes they are.
Yes
Stellantis is screwed.
@@icosthop9998 The Stellantis focus is on it's home European market and it is doing fine there. The North American market is a sideshow to be milked. Stellantis has removed all Americans from senior management.
add Nissan
Stellantis made huge profits last year, something like €18,6 billions (!)
The thing is, in the US, there is a lot to do : design and launch new models.
The company is restructuring all brands all over the world.
Go to any Home Depot, any day of the week. Look -- there's a guy in his 7 year old Ford van -- delivering garden supplies on a wholesale level. Do ya think he's gonna spend $70,000 on an electric truck that he cannot plug in and charge anywhere because 80% of the electric recharge stations are out of order? There's a couple of home handymen and an electrician, buying things, their 8 and 9 year old trucks. Sure -- they could use new ones. But a new truck -- even a base model -- is $40,000. that means a $600 a month payment, vs a $250 month payment for a good used full size basic truck. Get real, Detroit.
None of those tradesmen can afford a new truck. They're all busy paying off their neighbor's college loans. #FJB
I agree completely. @@howardj602
As long as rednecks and Coca-Cola Cowboys/Cowgirls are willing to overpay for the pickups that is where prices are likely to stay. A pickup is a fashion statement for most who drive them.
To be fair, Ford and GM still make a work truck in a standard cab with plain Jane trim for about $40k. Just do not expect to see them on a dealer lot. You have to order them.
Here in the US, Fiat has a horrible reputation to the point where Fiat is down to one model sold here. With Jeeps etc. “featuring” Fiat engineering, it is no surprise customers are ignoring these vehicles.
Aren't the Jeep Renegade and Compass just re-skined Fiat's😮?
@@larryjohns8823 Both of which have been discontinued. Yes, they were Jeep-arts.
I've got a fiat doblo 1.6 Multijet diesel. Great engine.
Here in the UK, FIAT also has terrible reputation and is virtually dead in the water.they only have the 500 and that's getting a bit long in the tooth.
@@jasoneldridge4738 there's the 600 as well.
Prices are still sky high here in Canada and there is no way I'm going to pay 40k for a 25k car. There's just no way so I'm doing what a lot of other people are doing and that is to maintain and fix my existing car and keep it on the road. The cost of doing this is far, far cheaper than buying a new or late model car so it makes perfect economic sense. Carmakers have the very mistaken idea that everybody is rich, but they're wrong, we're dealing with unprecedented inflation, doubled housing prices, insane grocery and heating bills, we're just trying to survive and carmakers expect me to pay too much for a new car? It just isn't possible.
This is true. I was car shopping the last few weekends and the Dodge/Jeep dealerships we went to were full to the brim with cars. They had been sitting so long that both cars we looked at had dead batteries! What’s worse is that the sales people didn’t really try to sell me a car and they weren’t really negotiating on price despite the excess inventory. Even with the “discounts”, they were way high compared to competitors.
The only other dealership that had issues with excess inventory was Ford and that was specific to the Lightning and Mach-e. They chopped $8k off a Mach-e and tried extremely hard to sell me one but I told them straight up that it’s still way too expensive compared to Tesla.
You’re right, it’s a disaster! Stellantis has no compelling products at all unless you want a dated muscle car. The Dodge Dart was an absolute joke at over $40k!
Dodge is the choice of rednecks.
No one wants a 10 year loan on a vehicle.
@@thelakeman5207 Nope. Luckily there's the old saying "pigs get fat, hogs get slaughtered" and a slaughter is about to happen. After these manufacturers and dealers gouging the hell out of people with pandemic price increases, the shoe is now on the other foot.
I ended up buying a lightly used Model 3 but have several of the others I looked at bookmarked. All of them are still on dealer lots weeks later and have been discounted anywhere between $1500 and $7500!
It's going to be very interesting seeing what happens to these Dodge/Jeep/Ram dealerships whose lots are overflowing with overpriced, uninteresting cars.
I've never owned a Stelllantis product because I have driven a few Stellantis products. The issues they have will stun and mesmerize the best mechanics on the planet.
Not true. Our Vauxhall Meriva was excellent.
The Vauxhall Meriva was produced when GM still owned Vauxhall/Opel .
Nonsense.
Electronics programmed to show "faults" at pre set mileage ,for instance.
@keithhooper6123 I wasn't tracking that... interesting. I do know Stellantis with electronics is like Eddison before he got the light bulb right. They have found 1 thousand ways to get it wrong and not one way to get it right.
The consumers are buying Toyotas ice vehicles.
i want a reliable car.
I want a simple card.
I want a no-nonsense car.
Been driving since 1966! Lived without touch screens, liked knobs and switches. No maker has a simple and low cost car anymore 😮
Toyota is your best bet.
@@softwarephil1709 I drive Honda.
I have it all... A Citroen 2CV6
Jeep tried to go upmarket by just increasing their prices. This is an epic fail with sales stalled. Toyota on the other hand is killing it in Nth America
Same with Volvo. Suddenly they were a luxury upmarket product, just because the price was high.
Nobody is killing it in the United States. Most of the manufacturers raised prices up and now even though some manufacturers are lowering them a little prices are still to high. Most of John Q Public is out of money and they refuse to buy a loaded overpriced vehicle.
Who are you trying to fool ,yourself ? Toyotas lots are full of overpriced trucks that aren’t being sold . Tundras from $47,000 to $100,000 plus . Tacoma’s that are all made in Mexico selling from $ 40,000 to $ 70,000 . Go look for yourself and then shut up !!!
@@donaldpiper9763 Ha, ha, ha… you rude idiot.
@@donaldpiper9763 Grrrrr!
Putting a Jeep logo on a vehicle that looks nothing like a Jeep probably didn't help either.
You mean the Fiat Panda? Lol, yeah. That's a JEEP. LOL
L😂L
Being a Fiat underneath surely didn’t help.
@@greeneyesms nope, But that was for people like you who were on top of things.
A lot of the buyers did not know that.
@@icosthop9998 If only we could know what percentage of people would have still bought a Jeep knowing the Fiat thing vs. % who didn't care vs. % who thought it was a plus to be a Fiat.
Stellantis: the home of all crap brands.
It was unreal how Stellantis took in other car brands that were failing.
We had a Vauxhall Meriva. An extremely reliable car and certainly not crap. Sold it to neighbours and it is still going strong.
Could survive rather than GM and Ford 😢
100% agree.
Maybe in America they are , in Europe they are good
Is it just Stellantis products? Everytime I drive by a Ford dealership I see no room to park another truck or Bronco. They are renting empty lots to store inventory. And Chevrolet? Lots and showrooms are empty and I suspect it isn't from a sell out so very curious about that, too. But... The good thing is, I still see truck loads of Tesla's on the Freeway
My Tesla Model X is going to the shop for the second time, because of groaning noises from the steering and front suspension. Only had about 12k miles on it for the 1st shop visit. Whatever they did, they didnt explain it clearly, and now at 19k miles, the noise is back. I'll never buy another Tesla.
@@F8Tributo The sad part is you can't even sell it because it is worth a small fraction of the sale price. Teslas have depreciated severely compared to similar ICE vehicles. I myself would be infuriated if they lowered the cost of the car I bought a few years previously several times making my car worth less every price drop. The only way to purchase an EV if you really want one is to lease it. At least Tesla has to buy their near worthless car back from you after you are done with it.
Our local Hyundai and Kia dealers down here have so many cars it looks like a mall parking lot the day before Christmas.
@@markadler8968 You make a very good point. Instead of lowering the cost of a vehicle to make it a more reasonable price in relation to the cost/value of the car they should continue to overcharge for them so that you personally won't be infuriated. The stupid is strong with this one.
@@paulmartin2348 I am not infuriated in the least. I am smart enough not to buy these vehicles. Please explain how it is stupid to get upset when the vehicle you bought a few years ago has had the price dropped so many times it is basically worthless. Not everyone is happy losing whatever equity they have in their car for the sake of the environment.
There is clearly a reason for all this and that is the level of character disorder and gross incompetence at the top of the food chain of the big three auto companies in the United states. Ford, GM, and Chrysler have been run by character disordered individuals mainly interested in making as much money as possible and short-term gain over long-term customer base and long-term quality. We see Mary Barra manipulating her contract and propping up the stock price while failing to have any plan to transition gm. Although Jim Farley seems like a nice guy he seems to have no idea how to get electric vehicles made that are reliable and cost competitive. Carlos on the other hand, is transparently narcissistic, and runs his mouth all the time complaining about Tesla while his company is headed for the crapper.
GM also sold out to China, taking American taxpayer money in bailouts first.
They are all government motors now. The only profit they'll make will come from biden, but only if they screw their customers and make ICE vehicles too expensive to afford.
Remember those trash jeeps that people could hack into? A coworker had one and he had nothing but problems. These have been garbage for 20 plus years
GooT! "And another one gone and another one gone" to quote Queen.
Are you referring to your braincells?
The Jeep Wrangler 4Xe has been America’s best selling plug-in hybrid since 2022.
No surprise. Chrysler hasn't built reliable vehicles in years, they've pretty much forgotten how to build an automatic transmission and their entire product lineup is ridiculously overpriced.
I live in the Pacific Northwest of the USA. Washington state has some of the wettest, snowiest, iceiest road conditions in the country. Yet, I saw a featured vehicle for sale in front of Costco yesterday that blew my mind. A 2-wheel drive 2023 Jeep Grand Cherokee for $70,000. That’s right. TWO WHEEL DRIVE, 18 month old car for $70,000. I couldn’t believe it. You would have to be an idiot to buy that car.
Serious problem for car manufacturers is that most car sales are optional. You can buy or you can wait. My car is 9 years old. It is still OK. I could replace it. Or I could just wait ten more years. If the dealer or manufacturer doesn’t give me a compelling reason to buy, I won’t.
I had a Dodge Durango. The rust on that vehicle was just terrible. It even rusted out my oil pan. $1100 to fix that. It was hard to get to so it was mostly labor. . How much does it cost to make an oil pan that lasts. And the gas !!! It averaged 24L/ 100Km. Outrageous. Really. Never again.
Smart.
I don't think any product rusts more than Chrysler products.
Their transmissions will crap out shortly after the warranty expires.
ever heard of fluid film under coating !?!? LOL!!!!! some people are just working with a 85 IQ.
@@JustDItY they use ZF transmissions. they are the best in world! LOL!!!
@@icosthop9998 90% of all rust is on Dodge Ram products in snow states. I OFTEN see a Dodge less than 5 years old with worse rust than a 50 year old car with no pain left. I have read that Chrysler always bought the cheapest recycled steel.
I skate with an older man and his son works at Chrysler plant in Ontario , Canada. He just got told he get almost one year holiday paid for in Canada, while plant switches to EV. Full pay at Union wages. Wow. Nice.
@vincewhite5087. So,going to make cars,no one wants.Guess the guy better find a new career.
Yep sounds nice.....short term. But if I was that guy I would be looking for another job because he ain't going to have a long term future making EVs that people aren't going to buy...
I had to get a battery from Chrysler for my elderly father's vehicle. I went to the local dealership -- yikes, almighty how many vehicles they had on that lot.
Chrysler has been suffering under bad ownership that didn't understand their customers. Fiat leader Sergio said he could turn it around, unless they had a failed model launch. That they might survive one, but two would sink the maker. The Dart didn't sell well, then they had model after model that flopped. The minivan Caravan was replaced by the Pacifica which didn't sell. They dumped their auto manufacturing to Stellantis who also has Peugeot and other brands which have failed in the US and they keep changing their offerings to be more like their European models. We don't want their features, we liked the features we had. They are discontinuing the best selling models with nothing to replace them. It's a mess.
all chrysler products share one common problem , overly complicated electrics which cause rampant reliability problems , and they are expensive ,especially here in Australia , i am a Jeep owner but there is no way i am shelling out 100k+ for a new one
Lets see, oversupply leads to factory slowdowns, UAW furloughs, tighter budgets, fewer new car purchases, ...
The Dodge Ram has many issues as well with their Hemi engine and the pricing is just way too high. The North American car and truck market is just not doing well with extreme inventory levels on dealer lots. Who wants a truck for $ 100,000???
NA needs to get out of the mentality that everyone needs a truck as they don't . A lot of other factors as NA is fat, overweight and obese. Whats happening is sad . The truck mentality has to go
@@kiddcisco I live on the West Coast in Canada and I love a quad cab truck, which will be my next vehicle after my 2005 Nissan Pathfinder dies, but I refuse to pay $ 50,000 plus for one.
@@kiddcisco I would rather be fat, overweight and obese any day that be too stupid or illiterate to form a reasonable sentence. The stupid is strong with this one.
The television show from decades ago Married With Children used the family's Dodge as a running joke. The issues aren't new. Just the owner changed.
That TV "Dodge" was a Plymouth Duster. They were a dependable low priced car. The TV car was very old
That's not four auto makers, it's all Chrysler!
Jeep Wagoneer at $120k, Jeep Grand Cherokee at $75k... not just no, but heck no!
The Stellantis Brampton, ON plant shut down to retool for EV's at Christmas. The production of Chargers, Challengers, and 300 ended then. The Windsor plant will build the future Charger, and Challengers. Stellantis overbuilt in 2023 to carry them over till the Windsor Plant is retooled, and the new models come out.
I like EV's, but please tell the reason why they overbuilt.
Not in my lifetime! No EVs, hybrid maybe yes. A co-worker just leased a 2024 Dodge Hornet GT Plug-in Hybrid for $199.00 per month for 36 months. He loves the car and it looks brilliant in White.
I could have told all these automakers forget about EVs. Mostly the only place you can charge them is at home. And, what if u want to go way out in the desert or country? You just can't do it. I guess they want to make evs because they are cheap and uncomplicated to make.
There are way more charging stations than gas pumps in united states everywhere. And just about everywhere you go there is 120v and 220v. Not to mention the tesla come with standard 120v and 220v charger. Theres electricity everywhere. Electric cars are a preppers wet drea. Come true. You can still put gas in your car with solar panels and waterwheel. And if all you have is alcohol you can still make electricity. Face it . Know it. Count on it. Cheaper than gas.
@@jamesmyers9285are you suggesting that over the 3 yrs of ownership of that shitbox, would only cost him 7200 dollars!!! I await your reply, but do not anticipate it. 😅😅😅
@@bkparquehave another .....
Large inventory on the 30, Challenger and Charger was planned, because the replacement is a year away, and the plant making them was shut down to retool for new models. I think failure to have a replacement is the bigger problem.
Ice vehicles aren’t the only cars gathering dust at dealerships. EVs are too. Ask Audi, VW, Ford, Ram, GM, Cadillac, Chrysler, etc.
Because they produce mediocre EVs. Overpriced, under-delivering.
True, now ask Tesla, BYD, Volvo ,and Geely. The folks who make good EV's, who do not make every extra an excuse to jack up prices. And some sold with basic prices which US buyers would fail to believe, they are so reasonable. The BYD Seagull for example sells for less than $12,000 in China. It has most of the gismos that US consumers have to pay extra for. It would kill the US competition for urban runabouts at double that price.
@@colddiesel That’s why they weren’t on the list. 🤦♂️
Car dealerships' lots are full, yet used car prices are sky high! They can always excellently explain why prices went up but when prices should fall there is a big fukin silence!
Maybe stilantis should do a buy one. Get one free. BOGO
It will survive Ford and GM 😢
Good point. Then will cost you at least double as you will be getting both of them towed.
Great video
Auto makers/dealers are flat out not interested in the average man/woman in the street. Never used to be that way not all that long ago.
I've got a family member who states that if he has to drive electric, he will stop driving for good. I own a MG4, and love it, I did get it on your recommendation.
They should make cars that we like and most of all can afford. They are too greedy to understand.
They're not making cars that we like. They're making cars that the government wants us to buy .
So, your want a Maybach for the price of a lawnmower?
Car dealerships are the most unethical type of business an ordinary consumer is ever likely to encounter.
Dodge Charger and Chrysler 300 as well as the Jeep Cherokee and Jeep Compass have been discontinued and no one wants to buy a discontinued car without a substantial discount.
ITS ALL OVER PRICED JUNK WHO CAN AFFORD 80 GRAND FOR A STUPID CAR OR TRUCK RUSTED OUT IN CANADA INSIDE 5 YEARS .
rusted out in Canada in 5 years, baseless comment. live in Canada and have in multiple provinces and had cars more than 5 years in each as well. You also don't need to spend 80K, NA needs to get out of the mentality of a truck, most who own one use it as a grocery getter, just plain silly
2 words, krown coatings. Your welcome.
....and what about all the recalls on new vehicles.
Not that there is a need to replace my 25yr old Van, went to several dealers in my area and got sticker shock. Only the Elite can afford it. No wonder there in trouble.
I don’t want a luxury car. I want a car I can afford. Dealers discovered they can make more money on a luxury car, that’s OK but to only produce luxury cars is insane.
They'll be looking for a government bailout.
Stellantis is a European company moving more production out of the US. Let the Europeans bail them out.
@@steven4315 When has that ever happened? The auto bailouts are always the American tax payers' burden to "save all the jobs that would be lost." Excruciatingly poor management then get a bonus -- also at tax payer expense. Would not be the first time.
If I were them I would do exactly that...intentionally threatening the government with job losses in the lead up in an election year. Other US Manufacturers will do likewise. Overproduction, overstocked, and threatening millions of jobs.Biden will have to lube up and bend over. This is a certainty.
No available V8 means I'm no longer a customer. Great job stelantis.
My Stellantis stock has and is making me a lot of money. It keeps going up! So if things are so bad why is the stock doing so well. Plus during the supply crisis during Covid Stellantis was able to get cars produced so they have the manufacturing capacity than the rest. I have 2 new Jeeps and love them!
CJDR are doing well. You are overstating the problem. All car companies are hurting right now and thanks to the UAW prices on cars have gone up but Stellantis will survive for sure as their stock has been doing great during this period!
In addition to EVs average price being too expensive, prices on ICE have been getting way out of control. That said, the top selling three 2023 vehicles were - 1. Ford F Series, 2. Chevy trucks, 3. RAM Trucks.
Carlos is bipolar. As a mopar fan (60s thru 70s) quality has gone down since then, and prices are out of control now. Ice engines climbing in hp almost as fast as gas and insurance prices. It's a quasi rich persons game now to own a v8. I dream of it often, but common sense prevails. They'll be museum pieces or boat anchors in under 10 years, right around the time u pay it off.
I don't see any price drops yet but this is truck country and the dealers might be keeping the prices high because they know the pickup buyers expect to pay more...
Viking, all 4 of them belong to the same company. But yes, there will be massive changes in the automotive market. Exciting times, as you well know flying cars are the future, go earn your wings and get ready to take off. Almost to 200K subs, congrats.
Same Italian company, Stellantis?
@@tjinla9850 Headquartered in the Netherlands.
Flying cars. Bahahaha
Goodbye to GM and Ford 😢
@@DG-hw8it Don't worry, if GM or Ford fold, some Chinese company will buy the pieces.
Agree with you; if you are going to buy an e-vehicle you should probably just buy a Tesla. Stelantis should close down; just keep Jeep-Ram--the rest is not worth much. Sadly, while I live in the US I would not buy a GM (after the government bailed out the greedy unions in 2008); Ford has it's own problems.
Jeep & RAM are the main Stellantis products in the U.S. anyway. What else is there? Pacifica minivan but that segment is fading.
The Grubbermint didn’t bail them out: WE DID, every taxpayer!
The Sky is Falling...
L😂L
This is what you get when politicians, accountants and marketing people pretend to be engineers.
My 2017 Jeep Cherokee, purchased new, is the best vehicle I have ever owned. Quality, fit and finish, ride and handling, FE. Superb vehicle.
16 grand Cherokee is the same, no problems !
I didn't even know we had four US automakers left.
Here in the UK Stellantis have the Vauxhall Corsa EV.
+ plenty of Fiat, Peugeot and Citroën minivans....😊
Stellantis 🤦🏼
Was it Stellantis that fired their own computer tech People and went to China to get their software working properly. That was not good.
That sucked.
The *Ram Trucks* are sitting on the dealership lots, but they are moving slowly.
Their cars are sitting on the lots more than eighty days.
Didn’t know that one. China doing their software was NOT a good idea!
They won't pay proper Software Engineering wages, so it's not surprising they outsourced when the underqualified locals couldn't get it done.
@@GORT70 I will dig it up.
That's VW.
So you are a RAM expert 😂
Back half a century ago I got my first car as a college student. Dodge Polara. Within a year I spent out about 2 grand for a new differential and new transmission. (2 grand then would be 10 grand now.) Ouch. Next car a Dodge Dart. Did not like to run in the rain; died when stopped at intersections. Next car my mom's old Plymouth Duster. Better, but drove like a dumpster on wheels. Learned my lesson. No more Chrysler cars for me. Wouldn't buy one today, either.
But Toyota powering on to 10million+ sales, again and again.
Cheers mate
If Stellantis is struggling then how did they just make over twenty billion dollars with most of that being in North America.
The problem with the bloodbath that is happening in the Auto Industry worldwide, and the disruption caused by EVs, is phenomenal and tragic, unpredictable in any historical scale or models.
Companies often have time to reinvent, and re-focus and reorganise their business to compete.
But the problem with EV's is that they came so quick, that companies don't get time to change. And the more conservative the corporate is, the slow it is to enact changes for adaptation, and quicker it falls.
Take Mitsubishi China for example, they were just celebrating its record sales in China in 2019 (After being in the market for decades). And in 2020/21/22, sales fell so much that it was less than 10% of its record peak in 2019, and subsequently bankrupt by 2023.
Same with Jeep in China. In the early years of 2017/18, Jeep dealership was such Hot property, that people were fighting tooth and nail to get one. Gross Profit was great. Fast Forward the same 5 years, and boom, gone.
Stellantis profit is same as Mitsubishis Peak sales in 2019. It is not looking good moving forward. Now, it doesn't mean their are F'd. They still can turn it around if they make rapid changes. If they want to do the "Wait and see how it goes" approach, then it will be all over for them.
Per the Detroit News "Stellantis' adjusted operating income in North America fell 4.9% to $14.271 billion (13.298 billion euro) in 2023." It's falling. Also, days of market supply in the US for CDJR is getting very long. There is a sales stall.
Subsidy?
It is true that operating profit fell in the second half of 2023. Off course, this can be attributed to the strikes at the Detroit Three automakers which caused long stoppages at Stellantis' operations in North America, its profit powerhouse.
In Europe Stellantis is taking quite an aggressive approach at BEVs. The approach in the US is definetely more cautious but will eventually follow suit.
It was just a matter of time. The average person can't afford these insane prices, can't get financed, and insurance costs wipe out any beacon of hope.
Around 3:10-ish- looks like footage on Racer-X's channel!
Problem with Chrysler cars is that while most in the industry were moving towards EV and hybrids, they doubled down on big, loud cars with huge powerful engines, which is their history. I guess they figured they have that market for themselves. I also think they were going for a particular demographic. Anyway, they have never been known in my lifetime as making quality vehicles.
Generally speaking the customers are rejecting the EV as a whole , Spin Master.
Another statistic that does not get enough attention. The average age of the USA car fleet in 2010 was 10.6 years old. In 2023 the average age was around 13.2 years old.
For whatever reason, people are holding back buying.
Can't blame them
Waiting for the Cybertruck 😊 Don't buy the Nokia phone!
Consumer Reports Reliability
1. Lexus
2. Toyota
14. Tesla
15. Ram
21. Dodge
26. Jeep
30. Chrysler
A lot of people are holding off of buying a new vehicle because they are worried about the future laws that may make these vehicles banned or taxed off the road or fuel tax hikes on gas to pay for EV’s etc.
It’s a big investment for an asset that there seems little surety they are going to get to use long term and it is not going to depreciate to zero if they get bullied off the road.
Price, price, price.. for all ICE manufacturers in the USA
Dodge still has some style and performance.
I want a Dodge Charger (Daytona) to replace my 2005 Dodge Charger (Daytona) - which has been a great car for me at 200k, but the dealers in Seattle are not willing to give any discount, at least not yet.
Nice car, but these days if it's not an EV I'm not really interested
Challenger looks way better!
That’s a redneck car.
Obviously they are not paying Tavares enough.
The pandemic was not that long ago so it seems inventory is getting back to normal
Strike driven increased UAW labor wages will help…😮
Toyota has the lowest excess inventory, because Toyota sells popular hybrid and ICE cars.
Stellantis created a recipe for disaster with the moves it has made with Chrysler. First Ram and Jeep, the profit centers, were stripped away to become stand-alone brands. Next, there was minimal support with new product investment. As sales declined for aged models, they were dropped with no replacements. Such thinned out vehicle lines with old platforms are no longer competitive. Last was the horrific price increases, especially with Jeep as they tried to move upscale. At 100K per unit, your volume will not be high. Taken all together, it's no surprise they are in trouble.
Stellantis isn't available (or almost not available) in some countries, so there are still many countries for Stellantis to try.
Look at time on lot, EV vs regular cars. Financing is more expensive and harder to get. Repos are on the rise.
Stellantis does not sell a BEV in the US.
There trucks that the Americans are fond of go for 50k on the low end and more like 70k up for the ones that are lusted after yet EV's are to expensive.
chargers are 25% at my local dealer
Put your pipe away
Inventrees? What the hell is an inventree?😅😅😅
The subject of car demand and EVs is low hanging fruit,,
Interest rates have pushed demand lower ,
Retrospectively it was the EV explosion in 2020 due to rate decrease and money print m2
This is simple economics
Stellantis learning the hard way that building way overpriced garbage isn't a winning business model.
Oligopolies that now have been forced to compete. And caught with their pants down as EVs disrupt.
Pulled your pants up before you get dIsRupTED.
stla has more cash than debt and a forward pe of 5 and a trailing pe of 4. So you can't buy it and you can't short it either.
the stock was at a low of 6 in 2020 now up to 26... I'm sure there is a lot of bad news coming for it but they've been working
magic(at making moneuy) till now
You forgot FORD. Born 1903 Gasoline - Die 2025 EV. 😢
Any idea the split between EVs and ICE in terms of days supply?
Latest top 10 data for USA here. ruclips.net/video/sGojuKzcxKs/видео.html
I know you say they are American but, I think many would argue that Ram, Jeep, Chrysler and Dodge are no longer American.
. *BTW* "KIA EV9" Wins *"Car of The Year"* by "Car and Driver".
“”””””” “”””
KIA is garbage
@@JAM_2024Proof? "Trust me bro"?
An EV pandemic? This may be worse than Covid? But is it contagious? Why not send those unsold brands to NZ? Or is the LHD the problemo?
With the death of the Hemi, Chrysler and Dodge are done.😢
What’s difficult to understand? American OEMs must operate and invest in their legacy business (because that’s what customers want and buy) at the same time as they need to invest (big time) in a completely different industry/technology - none of which offer (yet) as compelling a proposition to customers as their legacy product. The fact that they have huge legacy manufacturing infrastructure and labour in the most expensive jurisdiction in which to produce with the toughest environmental restrictions. There are no winning conditions in this scenario…and western governments are making it vastly worse through regulatory mandates that make no sense and consumers will not honour.
Maybe they should ship these to Australia and finally offer some decent discounts.. but again left hand drive..
How many people can afford 50 or 60 or 90 grand for a freaking vehicle?????? I'm 72 and a lot of people used to pay cash for a car. The same kind of people now finance the damned things for 10 years or something, at the end of which period the vehicle is worthless or in bad shape. Yeah, I can't figure out why cars aren't selling like hot cakes - any cars, electric or not.
These brands are “Not Reliable”
for a brief moment when you said Hellcat I was just hoping you'd say "she's the last of the V8 Interceptors"... you know in the full Aussie accent.
Chrysler Corporation was the smallest of what were once called the big three. I never recall a time when their cars weren't consudered unreliable even by American standards. Mercedes Benz bought them for 20 billion dollars, replaced their management. Instead of Mercedes improving Chryslers, Chrysler wrecked Mercedes reputation for rekiability. The sold it to a consirtium for 6 billion dollars. Im surprised they're still in business.
Americans overall don't like or want electric cars. I just watched a couple of videos of electric car owners in Britain who were fed up with them. One guy who paid 120,000 pounds for a Porsche could ge no more than 44,000 pounds for it 3 years later. People in Europe are getting fed up with them. The EU are lokking to block import of Chinese EVs.