Latest news with #Ostermann
Yahoo
3 days ago
- Automotive
- Yahoo
Stellantis CFO praises new CEO, promises progress in American market at fireside chat
Stellantis CFO Doug Ostermann spent the afternoon praising the automaker's new chief executive and promising big things for the American operations of the company in years to come. Speaking at the Bernstein Strategic Decisions Conference on May 29, an economic conference aimed at company executives and investors, Ostermann touched on an array of issues: How will Stellantis keep up with the blazing pace of Chinese automakers? How will the company address headwinds brought on by President Donald Trump's tariff policies? But to open the 50-minute discussion, Ostermann took a moment to praise Antonio Filosa, who was named the next CEO of Stellantis on May 28. "Antonio has, you know, kind of this proven track record of improving things, building things, getting at issues and being very hands-on," Ostermann said, pointing to his work in North and South America, where Jeep dominated South American markets under Filosa's guidance. "In the short time that he's been the head of North America, he fixed what was a significant inventory problem, adjusted pricing, built back the relationships with dealers," Ostermann said. "He's always been a man with a plan." Filosa, a self-described protégé of the late charismatic Fiat Chrysler leader Sergio Marchionne, is tasked with reviving a company that has lagged financially in the last several years. Under former CEO Carlos Tavares, Stellantis saw a 70% drop in net profit between 2023 and 2024. The struggles continued into 2025, as Stellantis' profits slid 14% in its first quarter of 2025. Ostermann, who has been with Stellantis-affiliated brands for eight years, says he trusts Filosa to lead the automaker out of the rough years. Stellantis names new CEO: Meet Antonio Filosa, the new CEO of Stellantis and protégé of Sergio Marchionne Fixing Model T's: Hot job? A growing field for mechanics who can fix Ford Model T's and antique cars Stellantis is an international company, managing 14 brands including Chrysler, Dodge, Jeep, Ram, Fiat and several names in the European market. American dealers and factory workers have previously scolded the company for leaving American operations behind. With the compounding influence of a new leader in Filosa, who previously told the Free Press the United States is "the biggest priority" for Stellantis, and tariff policies seeking to reward automotive production in the United States, Ostermann said that he anticipates the company putting more focus on American production and jobs. Ostermann noted that several new models will be rolling out this year, including a midsize truck under the Ram banner and a retooled Jeep Cherokee on a hybrid powertrain, set to be released in the back half of 2025. The new Cherokee comes two years after the model was canceled in 2023, and Ostermann said it will be Stellantis' first vehicle with a full hybrid powertrain. Along with the new Cherokee, Ostermann mentioned Ram's upcoming foray into the midsize truck market — a segment in which Stellantis does not currently offer a vehicle. Plans for the new truck and other manufacturing, Ostermann said, are being made with tariffs in mind. "Clearly, we're going to be more biased toward the U.S. manufacturing going forward," Ostermann said, when asked how the brand is adjusting to proposed tariffs. "When we look at the opportunities that we have to get into, say, the midsize truck segment ... we have a natural space there with the Ram brand." He followed up, indicating plans are moving forward to build the truck in America. "I'm sure we will industrialize (the midsize truck) in the United States," Ostermann said. "Our intent, you know, going forward, and always, for the most part, has been to produce where we sell." The new CEO, Filosa, officially assumes control of the company on June 23, when he will be tasked with maintaining his record of improving things for the struggling automaker. Liam Rappleye covers Stellantis and the UAW for the Detroit Free Press. Contact Liam Rappleye: LRappleye@ This article originally appeared on Detroit Free Press: Stellantis CFO says tariffs will bring more focus from company to U.S. Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
Yahoo
30-04-2025
- Automotive
- Yahoo
Stellantis sees revenues, shipments drop in first quarter; financial guidance suspended
Stellantis this week reported a 14% revenue slide for the first quarter and announced it was suspending its financial guidance for 2025 in the face of 'tariff-related uncertainties.' The automaker, which owns the Jeep, Ram, Chrysler, Dodge and Fiat brands, said its revenues dropped $40.7 billion (35.8 billion), and it said consolidated shipments of a bit over 1.2 million vehicles represented a 9% drop from the first quarter of 2024. A large share of the impact was in North America, which saw a 20% drop in shipments, according to Chief Financial Officer Doug Ostermann. In a webcast April 30, Ostermann said the automaker was still absorbing tariff adjustments announced the day before by the Trump administration. Those changes are expected to provide some relief to automakers, but they were described by an analyst as a 'gut punch' that would still results in thousands of dollars in added cost to new vehicles. Ostermann indicated that the automaker would be looking to its supply chain as it reacts to tariffs, but plans for the Jeep Cherokee replacement, which an analyst indicated was expected to be built in Mexico, haven't changed. The Cherokee was formerly built at the Belvidere Assembly Plant in Illinois, which is expected to reopen with midsize truck production in the next couple of years. He touted an ongoing dialogue with the Trump administration, noting that 'we're seeing the administration through this dialogue mitigate some of the impact' of the tariffs, and that the company believes the administration doesn't "want to hurt the profitability of the industry.' Ostermann said the automaker had paused shipments on some tariff-affected vehicles, relying on what's currently in inventory, but he noted that three out of five vehicles sold in the United States are built in the country and that the automaker has "an exceptionally well-balanced geographic footprint." The results came April 30 in Stellantis' first quarter financial report, which — unlike the company's Detroit Three competitors — is only a partial release. The company is scheduled to release a full earnings report in July, but has said it plans to shift to regular quarterly earnings reports in the future. More: GM reports lower first-quarter profit after production hurdles hit full-size pickups, SUVs Stellantis has struggled in recent reporting periods and is currently in the midst of a search for a new CEO. Former CEO Carlos Tavares left abruptly late last year, and his replacement is expected to be named in the coming months. In 2024, the automaker reported a 70% drop in net profit compared to 2023. Despite its challenges, the automaker plans to pay a 77-cent (0.68 euro) per share dividend on May 5, a move that has been heavily criticized by the UAW. The payout is expected to equal about $2.26 billion (2 billion euros). Contact Eric D. Lawrence: elawrence@ Become a subscriber. Submit a letter to the editor at (This is a developing story.) This article originally appeared on Detroit Free Press: Stellantis sees revenues, shipments drop, suspends financial guidance
Bloomberg
18-03-2025
- Automotive
- Bloomberg
Ram Owner Wants to Bring Cheaper Pickup Back to US
Stellantis NV thinks there's still demand for an affordable version of its Ram 1500 pickup truck in the US market after the stripped-down 'Ram Classic' ceased production last year, Chief Financial Officer Doug Ostermann said. 'We need to introduce kind of a lower-end trim of the new pickup to fill that gap,' Ostermann said at a Wolfe Research conference on Tuesday, cautioning that it would not come to market 'immediately.'
