Stellantis Revamps Strategy to Boost US Retail Market Share
After years of declining sales in its largest market, Stellantis is shifting its focus to grow its US retail market share in 2023. Antonio Filosa, head of the automaker’s North American operations, emphasized the importance of this goal, stating, “This is what we need to do. US retail market share is our main priority.”
A History of Decline
Stellantis’ US sales, including retail and fleet, have been on a downward trend since 2018. The company’s overall US market share has dropped significantly, from 12.6% in 2019 to 9.6% in 2023. This decline is largely attributed to the struggles of its Jeep and Ram Trucks brands.
New Leadership, New Direction
To address these challenges, Stellantis has revamped its US-focused leadership team and is working to mend relationships with dealers. The company is offering additional incentives and releasing new products to drive growth. Bob Broderdorf, head of Jeep in North America, expressed optimism about the company’s recent changes, stating, “We’ve got very aggressive strategies… If you shopped us six months ago, it’s a very different story right now.”
Ram Trucks’ Revamp
Ram boss Tim Kuniskis, who recently returned to the automaker, has pledged to adjust the brand’s strategy, production, and products to support dealers and sales. Kuniskis acknowledged the brand’s struggles, citing a slow ramp-up of its redesigned Ram 1500 pickups, but expressed confidence in the brand’s future.
Lessons Learned
Filosa acknowledged that the company has made mistakes in recent years, neglecting the importance of the North American market, particularly the US. He emphasized the need for Stellantis to adapt to changing market conditions and regulatory environments.
Looking Ahead
As the company navigates the challenges of the US market, Filosa hinted at potential changes to its US operations, depending on the policies of the incoming administration. Stellantis is preparing for various scenarios, which could include additional jobs in the US. With a renewed focus on growth and a commitment to its dealers, Stellantis is poised to make a comeback in the US market.
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