Stellantis NVNYSE: STLA

Stellantis is delaying the launch of its Ram electric pickup trucks from this year until the first half of 2025. CEO Carlos Tavares on Tuesday declined to disclose specifics regarding what caused the delays as well as specific timing on the electric trucks.

Stellantis' will adapt to changes in the U.S. car market expected under a Trump government, CEO Carlos Tavares said on Monday, with a platform that can offer electric, hybrid or gasoline versions of its models.

Stellantis and its Chinese partner Leapmotor have scrapped a plan to make a second electric vehicle model at the European automaker's plant in Poland, two people with knowledge of the matter told Reuters.

Stellantis announced plans Wednesday to cut a manufacturing shift and indefinitely lay off roughly 1,100 workers at a Jeep plant in Ohio. The company has been battling high inventory levels and lower earnings this year.

Jeep-maker Stellantis said it is laying off about 1,100 employees at a Jeep Gladiator plant in Toledo, Ohio as it works to improve efficiency and reduce inventory across its North American operations.

Stellantis N.V.'s Q3 sales show increasing weakness in North America as the company's brand performance in the US has declined, causing temporary dealer inventory management efforts. The other markets' weaknesses are less notable, as sales throughout Europe have been weak and as the Asian & African markets represent a minimal part of Stellantis. Given EU's Chinese EV tariff that should aid Stellantis, and Stellantis' still good brand portfolio in especially Europe, STLA stock is now priced for too conservative a future.

Stellantis has had a rough year with falling sales, revenues and profitability characterising the latest Q3 results. Poor management of their U.S. brands resulted in a mismatch between the consumer demand and production mixes with an excessive number of high-end cars being produced. Underlying business economics are superb at Stellantis with the firm being the only legacy automaker with a real net-cash position.

Republican presidential candidate Donald Trump said on Friday that if he is elected he would put a 100% tariff on Stellantis if the automaker tried moving jobs from the U.S. to Mexico.

AUBURN HILLS, Mich. , Nov. 1, 2024 /PRNewswire/ -- Participants from the Battery Workforce Challenge collegiate competition, a public-private partnership between the U.S. Department of Energy (DOE), Stellantis, and Argonne National Laboratory, gathered today to hand over the keys for 12 new 2024 Ram ProMaster electric vans.