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Fortune
Fortune
Ryan Hogg

Stellantis has ‘misplaced belief in its own pricing power’: Bernstein

Stellantis Bernstein Carlos Tavares United States Jeep
Carlos Tavares, chief executive officer of Stellantis NV, at the Stellantis auto manufacturing plant in Sochaux, France, on Thursday, Oct. 3, 2024. Stellantis is struggling with slowing and more competitive auto markets across Europe, where electric-vehicle demand is waning. (Credit: Nathan Laine—Bloomberg/Getty Images)

Multinational automaker Stellantis risks alienating huge chunks of its U.S. market as price rises cause its market share to plunge, a stateside dealer for the carmaker has warned.

Stellantis raised prices aggressively in the U.S. following its creation in 2021 through a merger between Fiat Chrysler and France’s PSA Group. CEO Carlos Tavares targeted profits and cost-cutting rather than growing market share.

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