Reported 2 days ago
Stellantis CEO Carlos Tavares stepped down amid concerns that rising vehicle prices have alienated core customers in Europe. Despite achieving increased profit margins, the focus on cost-cutting and higher pricing pushed customers to seek alternatives, such as Hyundai. Stellantis has experienced a significant drop in market share and is struggling to maintain competitiveness against Asian rivals, while the company plans to introduce new models to regain its foothold.
Source: YAHOO