AD #3911 – Big Shakeup at Stellantis Expected; Ram EV Going to Europe; Renault Expands Twizy Market

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BIG MANAGEMENT SHAKEUP AT STELLANTIS EXPECTED
We could know more about the status of Stellantis CEO Carlos Tavares’ future by the end of the week. Sales, profits and the company’s stock price have dropped sharply this year. Tavares has also come under fire from dealers, the UAW and the Italian government. And Stellantis’ chairman publicly announced it’s actively looking for a replacement CEO 16 months before his contract expires. We said this would put enormous pressure on Tavares to get things turned around and wondered if he will even make it to 2026. But one way or another it looks like changes are coming. Bloomberg reports that Tavares will meet with the board this week where he’s expected to propose a big management shakeup, possibly including finance teams, regional heads and brand executives. But the board is also expected to discuss Tavares’ future with the company. So, it’s possible this swings in any direction, but we should have a clearer picture soon.

STELLANTIS COULD RELOCATE U.S. HEADQUARTERS
Earlier this year, General Motors announced plans to relocate its headquarters to a new building in downtown Detroit. And Stellantis could also be on the move from its North American headquarters in Suburban Detroit. Crain’s Business Detroit reports that Stellantis is in talks with Michigan Governor Gretchen Whitmer about keeping its headquarters in Auburn Hills, Michigan. Whitmer says she has spoken “frequently” with CEO Carlos Tavares and that it’s a “top priority” for her administration. Stellantis said it appreciates the partnership with the Governor but it had “no further comment at this time.” Like GM, Stellantis is looking for a new location because the number of employees working at its headquarters has dwindled significantly since the pandemic so there’s a lot of empty office space.

FISKER’S TO LOSE CLOUD CONNECTION
More bad news for Fisker. Despite already announcing its bankruptcy, the company keeps running into issues, which mostly seems self-inflicted. Not long ago it looked like Fisker had caught a break when rental company American Lease bought over 3,000 Ocean SUVs, which cleared out most of its remaining inventory. American Lease paid tens of millions of dollars for those vehicles, but said that it was just informed that it can’t port or transfer each vehicle’s information from Fisker’s server. In other words, once it goes fully under and all the lights are turned off, Ocean SUVs will no longer be connected to the cloud and won’t get OTA updates and remote access and diagnostics will not be available. American Lease doesn’t know if Fisker already knew about this but it doesn’t want the vehicles anymore. And since it already paid, we have a feeling that’s what prompted the new SEC investigation into Fisker. I’ve got to imagine existing Ocean owners are probably feeling or will feel the same way as American Lease.

AUTOMAKERS MAKE PROGRESS WITH SEAT BELT REMINDERS
Automakers have made significant progress improving seat-belt reminders according to the Insurance Institute for Highway Safety or IIHS. It began rating the feature in 2022 and in that first year only 17% of new vehicles tested earned a good rating, while 65% were rated marginal or poor. But just two years later those numbers have flipped. The IIHS says 62% of new vehicles that it has rated so far earned good ratings, while just 24% were marginal or poor. To earn a good rating, vehicles must have an audible reminder that lasts at least 90 seconds for unbuckled front seat passengers and 30 seconds for back seat riders, along with a visual warning. Currently, federal regulations only require an audible warning for 4-8 seconds and a visual warning for 60 seconds. The IIHS says if its standards were adopted, it would increase seatbelt usage by 30% and save 1,600 lives a year.

GM NEVs OUTSELL ICEs IN CHINA FOR 1ST TIME
For the first time ever, General Motors sold more electrified vehicles in China than gas powered ones. GM sold 224,000 BEVs and plug-ins, accounting for 53% of its deliveries in China in the third quarter. That’s also a 60% gain compared to a year ago. But while its electrified vehicle sales were strong, GM’s overall sales in Q3 dropped 19% to 426,000 units. And more than three-quarters of its sales were from its joint venture with SAIC and Wuling. Cadillac, Buick and Chevy accounted for less than 100,000 units.

BMW’S Q3 SALES DROP
And it was a similar story for BMW in the third quarter. It was able to boost EV sales while its overall sales fell. BMW, including Mini, sold more than 103,000 BEVs globally in Q3, which is a 10% increase. While its overall sales totaled about 541,000 units, down 13% compared to a year ago.

MERCEDES HIT BY POOR SALES IN EU & CHINA
Meanwhile, BMW’s German rival, Mercedes also had a tough time in the third quarter. The automaker sold 594,600 cars and vans, which is down 3% from a year ago. And its BEV sales dropped 31% to about 136,000 units. Mercedes was especially hurt by slow sales in Europe and China.

RAM TAKING ALL-ELECTRIC TRUCK TO EUROPE
The Ford F-150 Lightning is going to get some more competition in Europe. Stellantis announced that it will start selling the all-electric Ram 1500 REV in Europe late next year. The Lightning is sold in Norway and Switzerland but it’s not known what markets the electric Ram will be sold in or what its price will be. The only other electric pickup on sale in Europe is the Maxus eTerron 9 from China’s SAIC but it’s a mid-size not full-size pickup. Ram already sells the 1500 in Europe offering it with a turbo gasoline engine or with a hybrid. And Stellantis claims it’s the best-selling full-size pickup in Europe, accounting for three-quarters of full-size truck sales.

TOYOTA OFF-ROAD PROOFS ITS HYBRID SYSTEM
Toyota is coming out with an updated version of its hybrid system for big trucks and SUVs. First debuting on the refreshed Lexus LX, it’s similar to the setup that came out on the new Tundra in that an electric motor with a clutch is mounted between the engine and trans. But it also added a starter and alternator on the engine, so if the hybrid system ever fails, they act like a backup and the vehicle can keep operating. Lexus says this would be especially useful if it ever happened while off-roading. And since the LX is known for its off-road capability, engineers encased both the battery and AC inverter in waterproof housings so the vehicle can still drive through rivers and streams. Lexus says the new LX will start rolling out late this year.

RENAULT EXPANDS TWIZY MARKET
Renault is trying to expand the market for the Twizy. The small two-seat electric, actually classified as a quadricycle in Europe, will now be offered under Renault’s mobility brand Mobilize. The standard version that you already know will be called the Duo, while another version with a small storage system on the back will be sold as the Bento. The models will be sold to both retail and business customers through Renault’s dealer network and can be ordered as early as next week.

DACIA GETS BIGGER, MOVES UPSCALE
Speaking of Renault, Dacia, its brand known for small affordable cars, is adding bigger, more upscale vehicles to its lineup. The first is a C-segment SUV, called the Bigster. While it didn’t say exactly what powers the model, there will be hybrid setups and it will have a version with 4X4 capability. The interior is highlighted by a 10.1 inch center touchscreen and a digital instrument cluster. No word when the Bigster will launch just yet, but it will be followed by two other vehicles.

And before we go, don’t forget to tune into Autoline After Hours later today. We’ll be talking about GM killing the Ultium brand name and making predictions for the Tesla Robotaxi event tonight. So, don’t miss the action at 3PM EST. But that’s it for today’s show. I hope to see you later.