The decisions that made it
The Adjacency Expansion · Growth & Portfolio
Stellantis Won the Merger Math and Lost the Cars. The Synergies Were Real - and That Was the Problem.
Stellantis hit €8.4 billion in cost synergies more than two years early. Then 2024 arrived: net profit down 70%, U.S. sales down 20% in a single quarter, and a CEO out the door. The savings were never the issue. What they paid for was.
8 min
The Crisis Response · Crisis & Reinvention
Stellantis Didn't Get Hit by a Crisis. It Built One, From the Inside.
In one year Stellantis's net profit fell 70% — from a record €18.6 billion to €5.5 billion. The wound wasn't an EV bet or a macro shock. It was self-inflicted in North America, and the board's response made it worse.
8 min
The Premium Trap · Business Model
Jeep and Ram Charged 20% More Than the Market. The Market Said No.
Stellantis bet its Jeep and Ram loyalty moat could carry a 20%+ price premium over the industry average. In 2024 U.S. sales fell approximately 15% while the total market rose just over 2%, the CEO was gone by December, and the premium narrowed back to nothing.
8 min