Stellantis sees Q1 2024 drop in revenue, but EV sales were up
Stellantis Q1 2024 revenue fell 12%, but global EV sales were up, and it’s optimistic about growth and profitability in H2 2024.
Expand Expanding CloseStellantis Q1 2024 revenue fell 12%, but global EV sales were up, and it’s optimistic about growth and profitability in H2 2024.
Expand Expanding CloseIt’s not a good week to be working at Stellantis. As it (finally) moves to try to sell EVs in the US, the automaker just laid off 400 US salaried tech workers and software engineers on Friday. Today the company announced that it was slashing more than 1,500 jobs in Turin, Italy, due to what it says are slow sales of its all-electric Fiat 500e city car. [Updated: Stellantis announced later after publication that the total number of layoffs in Italy would be 2,500.]
Expand Expanding CloseStellantis, the owner of Jeep, Ram, Dodge, Chrysler, and others, appointed Carlos Zarlenga to lead North American operations. Zarlenga, a former GM executive, is tasked with launching eight EVs as the brand begins its electric offensive in the US.
Expand Expanding CloseFiat just unveiled a new set of Panda-inspired concept cars at the Geneva Motor Show, including a new city car and a pickup truck. As Fiat has just launched its 500e in the US, some EV versions of these vehicles could be on their way stateside.
Expand Expanding CloseItalian performance car specialist Abarth has just debuted a new all-electric model called the 600e as its bright purple “Scorpionissima” launch edition undergoes final testing ahead of a commercial shoot. Abarth shared its first image of the 600e, which promises to be its most powerful vehicle to date.
Expand Expanding CloseStellantis has been at odds with the Italian government for its lack of support in EV adoption and not backing home-grown brands Fiat and Alfa Romeo. But now Italy says it is open to buying a stake in Stellantis, Reuters reports, using the same model France uses for its beloved Renault.
Expand Expanding CloseEVs drivers in Italy are a rare breed. And Stellantis’s CEO Carlos Tarvares says the government needs to step in and do more, a lot more, to promote EVs in a country with only 4% EV adoption rate, reports Automotive News Europe. Italy has some of the oldest, most polluting cars in Europe, and is lagging way behind other European countries in EV adoption, with an incentive program that has been practically nonexistent.
Expand Expanding CloseTo be frank, Americans don’t buy Fiats. The brand sold only a few hundred cars in the US last year. But Fiat hopes to – finally – charm the US with the “immersive Italian experience” of its upcoming Fiat 500e – Stellantis’s first all-electric car in the US. Unlike many of those hulking SUVs we’re seeing, this sweet retro-styled city car is one of the lightest and cheapest EVs on the market. To set the dolce vita vibes, the car even comes with its own theme music.
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The beloved city car Fiat Panda, the brand’s bestselling model in Europe, will get a new look next summer as a larger model that’s available in a fully electric version for around €23,300 (about $25K).
The Fiat 500e will return to the US as one of the most affordable EV options on the market. The brand aims to revitalize sales with the 2024 Fiat 500e starting at under $33,000.
Expand Expanding CloseStellantis, the parent company behind Jeep, Dodge, Ram, Fiat, Chrysler, and others, is set to release several new all-electric vehicles next year to kick off its EV campaign. Here’s a look at the first EVs due out next year.
Expand Expanding CloseIn order to compete with other automakers and garner a larger slice of the EV market, Stellantis shared that it is developing a second, lower-priced EV inspired by the Panda from its sub-brand Fiat. The new Fiat EV is expected to arrive priced below €25,000.
Expand Expanding CloseOn Tuesday, Stellantis unveiled its latest electric SUV, the FIAT 600e, with up to 248 miles range (400 km) starting at under $40,000 (€36,490). The new compact electric SUV is set to compete against the upcoming Volvo EX30 in the lucrative crossover market.
Expand Expanding CloseFiat is preparing to revamp its brand in the US. The Italian automaker is bringing its top-selling electric car, the Fiat 500e, back to the US in an attempt to take on Tesla and the booming EV market.
With Fiat sales diminishing to nearly nothing over the past several years, analysts believe an affordable and unique EV, like the new 500e, can help turn the brand’s perception around.
Expand Expanding CloseItalian automaker Fiat is teasing what it calls “the cutest way to electrify cities.” Today, the company revealed the name and first image of its upcoming all-electric quadricycle – the Fiat Topolino. Have a look – do you think it captures Fiat’s “dolce vita” Italian spirit?
Expand Expanding CloseA recent 2022 report by Zutobi has ranked the top 20 most affordable EVs to operate around the world based on a number of factors. This includes considerations such as battery size, cost to charge, and miles driven per given dollar amounts. Tesla takes the top spot this year, but there are plenty of other viable options currently available to consumers.
Expand Expanding CloseWhat’s the most affordable EV you can buy? If rumors out of Fiat are to be believed, the answer to that question will soon be “the new Fiat Panda” as Stellantis targets the bottom end of the booming electric car market.
Expand Expanding Close60% of Fiat’s car models will be “electrified” — either conventional hybrid, plug-in hybrid, or full electric — by the end of next year, according to a presentation by the company’s European brand chief Luca Napolitano reported by Reuters. Napolitano claims that this is “better than the market average.”
While many companies have been making similar commitments, often using the weasel word “electrify” that includes conventional hybrids that still rely entirely on petroleum for movement, Fiat’s commitments are notable, considering their recent history as EV opponents, formerly headed by Sergio Marchionne, who was a famously anti-EV figure.
Expand Expanding CloseFiat-Chrysler has been slow and hesitant about electric cars. But it appears that Olivier François, Fiat’s brand president, is finally coming around to EVs. He explained why the demand for the new Fiat 500, which is exclusively electric, could “explode.”
When the electric Fiat Centoventi was revealed as a concept car at 2019’s Geneva Motor Show, it was easy to dismiss as auto-show razzle-dazzle. The cute Panda-inspired model had barn-style doors, a pegboard dashboard, and interchangeable seats and a roof. But now there are signs that the all-electric Fiat Centoventi is going into production – with the promise of the industry’s first add-as-you-go battery system.
Fiat is debuting its new Concept Centoventi at the Geneva Motor Show. An extremely customizable concept EV, the Centoventi would offer consumers the chance to change nearly everything about the car, from exterior to interior to battery range.
FCA’s outspoken CEO, Sergio Marchionne, has been known for being highly critical of electric vehicles, which has significantly slowed down the electrification of FCA’s lineup of vehicles.
But the industry is undoubtedly moving forward with all-electric vehicles and now FCA is announcing new electric vehicles coming under its Jeep, Maserati, and Fiat brands within the next 4 years.
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FCA’s outspoken CEO, Sergio Marchionne, has been known to make unpopular but frank comments about electric cars and the future of the auto industry. The man in charge of Alfa, Fiat, Chrysler and Jeep, called for its customers not to buy his electric car, the Fiat 500e, because he estimates the company is losing about $10,000 per units.
In a recent interview with Car Magazine, he reiterated his comments and elaborated on how he doesn’t understand how anyone can make money selling electric cars other than to comply with government mandates. He also made some interesting and somewhat confusing comments on Tesla’s success.
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Speaking today on CNBC, Ferrari chairman and Fiat Chrysler CEO Sergio Marchionne spoke affirmatively when asked if he believes Apple will make a car. The Ferrari boss explained that he believes the automobile space is one in which Apple can exhibit its skills, clarifying that he believes Apple will have a car assembled rather than building it on their own. Marchionne added that Apple has not approached Fiat for being its partner for assembling a car.
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