Stellantis is having a sales problem with a number of its brands creating yet another quarterly sales hit. Wayne Gerdes – CleanMPG – Apr. 2, 2024 2024 Jeep Wrangler 4xe One of the few highlights for Q1 here in the US. Stellantis reported Q1 2024 US sales of 332,540, down 9.7% below the 368,327 the multi-brand OEM sold during the same period a year ago. Jeep brand sales actually increased by 1.8% while RAM experienced an inordinately steep fall off of 26%. I read one report that stated the RAM 2500 is one of the 5 slowest selling vehicles in the US with over 300 days of dealership supply that will have to be worked down. Its mid $60s starting price is not helping matters any either. The rest of the automaker’s brands are now approaching irrelevancy. Case in point, the 4 once iconic global nameplates combined for 80,193 vehicles sold in Q1, this is less than the RAV4, Model Y, and CR-V by themselves. At what point do you begin to close a division due to lack of not only profitability but any chance of future success? Stellantis will have to make some hard choices in the next few years and none of them will be good. Dodge Q1 2024 US sales of 42,948 Chrysler Q1 2024 US sales of 34,806 Alfa Romeo Q1 2024 US sales of 2,285 Fiat did not even measure but a few hundred units - 154 to be exact Moving back to a highlight, the Jeep Wrangler 4xe and the Jeep Grand Cherokee 4xe are currently ranked the No. 1 and No. 2 best-selling hybrids in the country. Jeep Wrangler 4xe was America's best-selling PHEV with 19,090 Q1 sales. Total PHEV Q1 sales increased 82% year over year. Moving ahead, just as America’s appetite for BEVs is plateauing, Stellantis will launch 8 BEVs in the U.S. by the end of 2024, which includes the Jeep Recon, Ram 1500 REV, Wagoneer S, Dodge Charger Daytona, and the all-new Fiat 500e. That last one is DOA of course. Chrysler Pacifica 2024 total U.S. sales increased 15% year over year, recording its best-ever Q1 with the PHEV accounting for 7,320 (22%) of total Chrysler Pacifica sales of 33,114. US Q1 2024 Top 10 US Auto OEM Sales Ranks GM - 594,233 vehicles sold in Q1 of 2024, down 1.5% below the 603,208 sold during Q1 of 2023 Toyota - 565,098 vehicles sold in Q1 of 2024, up 20.3% over the 469,558 sold during Q1 of 2023 Ford - 508,083 vehicles sold in Q1 of 2024, up 6.8% over the 475,906 sold during Q1 of 2023 Stellantis - 332,540 vehicles sold in Q1 of 2024, down 9.7% below the 368,327 sold during Q1 of 2023 Honda - 303,451 vehicles sold in Q1 of 2024, up 17.3% over the 284,507 sold during Q1 of 2023 Nissan - 252,735 vehicles sold in Q1 of 2024, up 7.2% over the 235,818 sold during Q1 of 2023 Hyundai - 184,804 vehicles sold in Q1 of 2024, up 0.2% over the 184,449 sold during Q1 of 2023 Kia - 179,621 vehicles sold in Q1 of 2024, down 2.5% below the 184,136 sold during Q1 of 2023 Subaru - 152,996 vehicles sold in Q1 of 2024, up 6.7% over the 143,379 sold during Q1 of 2023 Tesla - 140,025 vehicles sold in Q1 of 2024, down 13.3% below the 161,630 sold during Q1 of 2023 Q1 2024 Top 10 US Auto Model Sales Leaders Ford F-Series incl. LD and HD - 152,943 vehicles sold in Q1 of 2024, down 10.2% below the 170,377 sold in Q1 of 2023 Chevrolet Silverado incl. LD and HD - 129,987 vehicles sold in Q1 of 2024, up 0.4% over the 126,992 sold in Q1 of 2023 Toyota RAV4 - 124,822 vehicles sold in Q1 of 2024, up 47.4% over the 84,704 sold in Q1 of 2023 Tesla Model Y - 96,729 vehicles sold in Q1 of 2024, up 1.4% above the 95,362 sold in Q1 of 2023 Honda CR-V - 95,038 vehicles sold in Q1 of 2024, up 41.3% over the 67,241 sold in Q1 of 2023 Nissan Rogue - 90,804 vehicles sold in Q1 of 2024, up 8.7% over the 76,499 sold in Q1 of 2023 RAM P/U incl. LD and HD - 89,417 vehicles sold in Q1 of 2024, down 15.1% below the 105,350 sold in Q1 of 2023 Toyota Camry - 78,337 vehicles sold in Q1 of 2024, up 18.6% over the 66,037 sold in Q1 of 2023 GMC Sierra incl. LD and HD - 68,597 vehicles sold in Q1 of 2024, up 0.1% over the 67,198 sold in Q1 of 2023 Honda Civic - 61,929 vehicles sold in Q1 of 2024, up 36.0% over the 45,458 sold in Q1 of 2023
Hi All: The sale declines across the 4 major brands are accelerating... FCA's Q2 2024 US Sales Results Stellantis Q2 2024 total U.S. sales of 344,993 vehicles was down 20.6% vs Q2 of 2023. A highlight includes that Stellantis took four of five top-selling PHEV spots in U.S. with the Jeep Wrangler 4xe (No. 1), Jeep Grand Cherokee 4xe (No. 2), Chrysler Pacifica Hybrid (No. 4) and Dodge Hornet (No. 5). FCA Brands and Totals for Q2 2024/YTD US Sales JEEP - 147,147 vehicles sold in Q2 of 2024, down 18.8% from the 181,284 sold in Q2 of 2023. YTD sales of 304,186 vehicles was down 9.3% from the 335,487 sold through the same period of 2023. RAM - 105,485 vehicles sold in Q2 of 2024, down 25.7% from the 142,013 sold in Q2 of 2023. YTD sales of 200,793 vehicles was down 25.8% from the 270,735 sold through the same period of 2023. CHRYSLER - 39,766 vehicles sold in Q2 of 2024, down 19.1% from the 49,144 sold in Q2 of 2023. YTD sales of 74,572 vehicles was down 7.9% from the 81,043 sold through the same period of 2023. DODGE - 49,787 vehicles sold in Q2 of 2024, down 16.7% from the 59,752 sold in Q2 of 2023. YTD sales of 92,735 was down 16.2% from the 110,727 sold through the same period of 2023. FIAT - 316 vehicles sold in Q2 of 2024, up 119.4% over the 144 sold in Q2 of 2023. YTD sales of 470 was up 66.7% over the 282 sold through the same period of 2023. ALFA ROMEO - 2,492 vehicles sold in Q2 of 2024, up 7.8% over the 2,311 sold in Q2 of 2023. YTD sales of 4,777 was up 1.6% over the 4,701 sold through the same period of 2023. FCA Totals - 344,993 vehicles sold in Q2 of 2024, down 20.6% from the 434,648 sold in Q2 of 2023. YTD sales of 677,533 vehicles was down 15.6% from the 802,975 sold through the same period of 2023. Wayne
Hi All: With Q3 2024 US sales of 305,294 having fallen another 19.8% below the 380,563 sold in Q3 of 2024 and YTD sales of 982,827 off 17.0% below the 1,183,538 sold through the same period of 2023, the D/J/R/C/F brands are in deep $**t. Overpriced and poor quality vehicles are stacking up on lots the country and world over and there is little anyone can do in the short term to reverse the negative trajectory. Former Jeep North America boss Jim Morrison and former RAM lead, Tim Kuniskis, retired from Steallantis in June of this year. They were the heart and soul of the iconic American cash cows but were not supported as they should have by the European overseers. The CEO, Carlos Tavares, resigned on Dec. 1 with Tim Kuniskis returning to Stellantis as the new Ram CEO. One of their all-electric hopes is the Dodge Charger EV. And they are touting a new ad campaign that is more marketing hyperbole than actually doing anything of substance. Either the Execs believe the brands faithful will go along with the ploy or they have nothing that can compete head to head with the Taycan, RS GT, Air, and Plaid's of the world? The Dodge Charger Daytona EV models are part of the Dodge brand’s first multi-energy muscle-car lineup. The all-new Charger Daytona Scat Pack runs the quarter-mile in an estimated 11.5 seconds and delivers Charger SRT Hellcat Redeye levels of performance by reaching 0-60 mph in 3.3 seconds, with a total output of 670 hp and 627 lb.-ft. of torque. The Charger Daytona R/T delivers a total output of 496 hp and 404 lb.-ft. of torque. The brands best cannot touch the aforementioned Porsche, Audi, Lucid, or Tesla, can barely beat the Ford Mustang Mach-E GT and loses to the Hyundai Ioniq 5 N. All existing product. Even worse, the all-new Charger Daytona EV uses a 400V architecture meaning it will charge on par to the lowly Mach-E and never come close to the rest. In any case, here is the advert they hope will move them into the future. All I can say is good luck with that. Wayne
The marketing, and the in-showroom sales presentation, will assume the prospect has no knowledge of any other EVs or their specs. They want the buyer to cross-shop the EV versus their current V6 or basic-Hemi Charger or Challenger, and marvel at the performance of the EV. Once you get away from the corporate voices and talk to the guy on the street - the one who drives the car and makes the payment - the story is a little different. Many of the Challenger/Charger owners out there are anti-electric and drive what they drive because they perceive it to be an in-your-face rejection of EVs. Dodge has given this group a slient wink by making so many Hemi and Hellcat "Limited Edition" "Collectible" versions of a platform that has been on the market for 20 years and is actually closer to 30 years old. The off-the-record sales pitch is that you will still have your 700hp gas powered car long after the government has banned them. Good news and bad news for Stellantis: My neighbor three doors down sold off his Hemi Ram 1500 and replaced it with a Toyota Bz4X. Bad news is that they lost a loyal customer because he was getting murdered on fuel cost and wanted the most efficient option he could afford, and CDJR dealers don't have any efficient vehicles for sale. The good news is that he bought the Toyota based only on price, and its slow charge rate and limited range didn't kill the deal. He plugs it into the L2 charger on the side of the house every other day and it charges overnight. So hope springs eternal that there are enough customers coming in to trade out of their current mid-trim LX hot rod and fall in love with the new electric version, and just sign the papers without questioning range or charge rate. Stellantis sales execs need to drive around the streets of the US and see what's really selling. In the NYC area, the bulk of the EV population is Tesla, with the majority being Model Y. Lots of Ioniq 5. Enough Chevy Bolts and Mach-E to take notice. The occasional Kona EV, Niro EV and Soul EV. What seems to be really growing is the population of Toyota Bz4X, Honda Prologue (but curiously, not its brother the Blazer), and Equinox EV. Maybe the execs would conclude what I have concluded. What is moving the metal is the form factor - Cute Ute (compact, high roof and hatchback), and the Three P's: Price, Price, and Price. The payment needs to fit the budget, and you need to be able to open the back door and stuff in a dishwasher-sized package of toilet paper that you just bought at Costco because there's another pandemic coming on Thursday. These are the things the middle class wants, and will buy if you are bold enough to market them. Whoever gets the Big Chair at Stellantis should put on the big boy pants and make a product decision. Pull another "Hornet/Toenail" quickie badge-swap. Bring North America the Peugeot E-2008 with a nose-job, and call it the Chrysler "EV Cruiser" and the Dodge "Xenon". Better yet, the Dodge Krypton - it disables Superman! Lease them for $299 a month with 3200 down, like GM is doing with the Equinox EV. When people can drive home in a compact crossover for 299 a month, when the Jeep Compass parked next to it on the showroom floor is 349 a month, and you throw in a home charger to sweeten the deal, it might surprise you to see how many people are ready to sign.
Another pandemic on Thursday ? Yikes ! I have only two days to prepare ! And I need to warn Superman.
I'm liking the analysis pointing to the 3 P's. I think that's driving sales around me regardless of vehicle or MSRP, and maybe that explains the high average transaction price. It also shows gas is still too cheap from the FSP choices. The saying 'house poor' could apply to cars as well with a slight change. Leasing is another way to live with champagne tastes. Financial sense is not a universal quality.
In the case of EV sales, leasing gets you the full federal tax credit since it gets loaded into the up front money. They opened a Vinfast dealer on Long Island - east of NYC. They're running their end of year fire sale. New 2024 VF8 for 199 a month, $0 down, 24 months, 10k/year. So $894 due at signing - 695 bank and 199 first payment. Then add TTL, of course. That's not a car I would ever consider buying out at lease end, and I don't know what the dispo is on that lease (hopefully it's only three digits!). And who knows what insurance runs on these cars, but it's an interesting low cost lease for someone who just needs to run around town. If Stellantis had a similar model for a similar lease - they'd have a bit more showroom traffic.
True. I used this tactic with the RZ, then bought it out a few months later. (keeping a good relationship with the dealership with which I wish to do business for a long time; there are 30 days worth of free Lexus rentals over 3 years, any vehicle they have in their working inventory may be requested) I don't trust Vinfast yet. Sounds like a good lower cost deal for 2 years, maybe if one is between vehicles. Sales tax in MA for a lease would be low in a lease vs purchase, but no savings on annual excise tax.
The short lease will cause more people to take a chance, since it's only a two year commitment. Also, a lot of buyers don't research much and they may not know about the gremlins these vehicles were featuring during road tests. Depending on how oblivious they are, some of the more subtle quirks may never be noticed. The Jeep 4xe powertrain is not highly regarded and buyers are staying away. The Hornet platform is also getting scathed online, with people moaning that it's a FWD car when running on gas, a RWD car when running on battery, and AWD only when both power sources are online. A very low price will cause buyers to overlook many faults. Expecting them to sell in the $50k to $80k range doesn't seem to be panning out.
I'm always surprised to see Jeeps with snorkels near me. It's a jungle out there. (urban of course) Oh, and I don't know if it is legal or safe to do so, but the Jeeps often have families riding around with doors removed.
Maybe that "Jeep Wave", with the two fingers raised, is just showing how many limbs have been lost by driving around with no doors. Just ask ol' PegLeg Peterson down the block - the guy with the eye patch and only a right-side earlobe - what happens when you drive around with your leg or arm hanging out of the car.
