Reported 10 months 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