“recipe for tares” Jobs. The Portuguese executive’s strict policy of cutting and adjusting costs and prioritizing profitability above all has allowed the Stellantis group to move from being the automotive industry’s red beacon to leadership in a little over a decade, second this year. Nearly 11,000 million in the first half The world’s largest automaker by euro profits, surpassed only by Toyota, and this was followed by former PSA Peugeot Citroën, first with the takeover of Opel (General Motors’ European subsidiary) and later with the integration of the Italian-American conglomerate. succeeded in enlarging its size. Fiat Chrysler Automobiles (FCA). It is also the European group that benefits the most, if not the group that assembles the most vehicles (German volkswagen NETWORK follow the leader).
The Stellantis example stands out among the main OEMs in the four-wheel and mobility sector. Profit increased (10,918 million to June, 37% more than same period last year) more than sales (+9%), i.e. The money the group earns for each vehicle it produces increases, all this in the context of the crisis of raw materials and problems in the supply of components, especially technological ones, semiconductors. It’s also Europe’s most profitable automaker, which is crucial because the Old Continent is home to some of the world’s most sought-after—and expensive—premium brands, achieving an adjusted operating margin of 14% in the first year. six months of the year. ,4%.
global competitor
But Stellantis is already a global competitor. Actually, only Toyota currently tops the Netherlands-based holding company by profit in the international rankings of automakersWith 11,745 million euros until June. Stellantis is followed by Volkswagen (8.521 million Euros), Hyundai/KIA (8.025), Mercedes (7.508), BMW (6.620), Tesla (4.791), GM (4.556), Ford (3.372), Honda (2.711) and Renault consortium. is doing. -Nissan-Mitsubishi (2,124).
With these results, No one in the group or in the automotive industry doubts Carlos Tavares’ abilities as a manager and his recipe for cost adjustment. instead it was discussed by workers in factoriesand its web providers). Tavares thanked them at the presentation of the six-month results: “I want to express my gratitude to each and every one of the employees and I am proud to say that the teams have achieved multidimensional work. We are well positioned for the rest of 2023 and beyond.” The multinational is maintaining plans for all its cars to be electric by 2030, with revenues of €300,000 million thereafter.
Balaidos faces new collective bargaining negotiations
The current collective bargaining agreement at Stellantis Vigo headquarters expires on 31 December and the company wants to start negotiations on the new collective bargaining agreement earlier. This will be the moment the group puts on the table its industrial plan for the Galician facilities for the coming years; As Stellantis executives have warned many times before, this plan will largely depend on: Public assistance from Perte’s second edition for Electric and Connected Vehicles (VEC), whose distribution may be known before the end of the year.