Stellantis maps U.S. product overhaul
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Stellantis' Head of American Brands Tim Kuniskis unveils future product line for Chrysler, Jeep, Dodge and Ram. Photo courtesy of Stellantis
Stellantis plans to add affordable entry-level cars and high-performance trucks to its U.S. showrooms over the next five years as part of a 60 billion euros ($70 billion) global turnaround plan.
Why it matters: Expanding into new market segments is a key aspect of Stellantis' strategy reboot as it tries to reinvigorate its 14 brands and strengthen its financial performance in the hyper-competitive auto industry.
Driving the news: Stellantis pulled back the curtain on its future product lineup during an investor event Thursday in Auburn Hills, Michigan.
- In the U.S., the company will add 11 new products across its Jeep, Ram, Chrysler and Dodge brands, and refresh another 12 models by 2030.
Zoom in: It's putting an increased focus on affordability, with two sub-$30,000 crossovers and seven other models priced below $40,000.
- At the other end of the spectrum, the company is flexing its muscle car heritage with a new line of high-performance Ram truck variants and a two-seat Dodge Copperhead sports car.
- It's further expanding the Ram lineup at the lower end, with a new mid-size Dakota pickup and a new compact Rampage pickup borrowed from its South American business.
- Overall, Stellantis aims to boost North American sales 35%, from 1.4 million vehicles to 1.9 million units, despite flat industry sales.
The big picture: The turnaround plan from new CEO Antonio Filosa targets faster product development, improved quality, $7 billion in annual cost reductions by 2028 and positive cash flow by 2027.
- In Europe, it's leaning heavily on partnerships with Chinese carmakers LeapMotor and Dongfeng to develop new models and share factory capacity.
- A total of 60 new vehicles are planned, most of them based on three shared global platforms.
- It will offer a mix of powertrains, including 29 electric vehicles, 24 hybrids, 15 plug-in or range-extended hybrids and 39 traditional gas vehicles.
Four global brands — Jeep, Ram, Peugeot and Fiat — will receive 70% of the product investments, along with the company's new Pro One commercial vehicles business unit.
- Chrysler, Dodge, Citroen, Opel and Alfa Romeo will remain as regional brands, with DS and Lancia, will survive as specialty brands.
- Maserati, which is adding two electric luxury models, will remain as well, with more details to come, the company said.
- "Every brand in Stellantis will play a clear role in delivering our FaSTLAne 2030 commitments," said Filosa, referring to his five-year strategy.
In the U.S., the long-neglected Chrysler brand get new life with two new Fiat-based small crossovers and a large SUV to join the current Pacifica minivan.
- Dodge is adding a full-size SUV, in addition to the new Copperhead sports car.
- Jeep, which is rolling out a new Cherokee hybrid and electric Recon SUV this year, also plans to add a gas version of the Recon and a sporty, two-door Wrangler Scrambler.
- Ram is adding a full-size SUV, in addition to the Rampage and Dakota, and is bringing back a mid-sized ProMaster City cargo van.
What we're watching: Stellantis also just announced a partnership with Jaguar Land Rover to develop products for North America.
Editor's note: This story was updated with additional information from Stellantis' investor event
