This approach has breathed new life into brands such as Chrysler. Chrysler has a shallow product line-up in the U.S. and seemed in need of direction before the merger.
Stewart said Monday he was proud chrysler‘s new vision calls for the brand to go fully electric by 2028. The product-hungry brand plans to debut its first battery-electric model by 2025.
“Obviously, we’ve had many different names over the years, but we’re the home of 14 brands. It’s about being a brand.”Everyone has a personality on the brand side, and in order to be able to fit into different parts of the market without clashing with each other, people are like, ‘Oh my God, how can 14 people do that?’ Can you feed your child?”
Stellantis is preparing to launch more than 25 battery electric vehicles in the US by 2030.
Several are slated for 2024, including the first electric Ram pickup to take on competitors from Ford, General Motors and Rivian, which have been on the market for several years before the Ram entry arrived.
Ram uses insights gleaned from the Ram Revolution Insider Program, a series of city hall conversations called the Ram Real Talk Tour, to offer a superior product after cultivating a market where there are few competitors today. and Ram CEO Mike Koval told Automotive News in April that the brand will combine what it has learned from pickup owners with the knowledge it already has about the capabilities of its competitors’ options.
Stewart said the extra time would benefit Ram.
“Obviously, we’re late to the party than anyone else,” Stewart said. “We are about two years behind others in getting to market. The important thing is that we show leadership.
“So we have time to really see all the things that today’s customers love that have led to significant growth in market share. We can’t lose it, we can tweak it and make it better. Others have done a really good job.”
As Stellantis moves forward with its product plans, the automaker is setting up a captive finance arm in the US.
Acquired the parent company of First Investors Financial Services Group for approximately $285 million in 2021.
FCA operated in partnership with Chrysler Capital through a private label deal with Santander Consumer USA formed in 2013, but most of its major competitors have their own captive units.
The move to set up its own captive finance arm in the US was welcome news for dealers, who said it would be highly profitable and give the company greater flexibility.
“As a team, it felt really important to have that,” Stewart said. “Having that is a definite competitive advantage. [Chrysler Capital], Allie, Chase, and the rest of us, we’ve already launched over 1,600 dealerships and it’s been increasing throughout the year…we’ve more than doubled that business this year, so good I feel like going into next year. “