Latest news with #US-European
Time of India
6 days ago
- Automotive
- Time of India
Jeep owner Stellantis names Italian Antonio Filosa as new CEO
HighlightsStellantis has appointed Antonio Filosa as the new Chief Executive Officer, succeeding Carlos Tavares, who was dismissed in December 2024. Antonio Filosa, who has over 25 years of experience in the automotive industry and previously served as Chief Executive of the Jeep brand, will officially assume his CEO powers on June 23, 2025. Stellantis is facing challenges in the North American market, with declining sales and the impact of US President Donald Trump's 25-percent tariffs on the automotive industry, prompting the company to drop its annual financial guidance. Auto giant Stellantis , whose brands include Jeep , Peugeot and Fiat , on Wednesday named company veteran Antonio Filosa as its new chief executive officer as the US-European group navigates US tariffs and slumping North American sales . The Italian manager, who has led Stellantis in North and South America, will succeed Carlos Tavares , who was sacked in December. Filosa, who joined Fiat in 1999, recalled that his first job was as a paint shop quality supervisor at a plant in Spain, where he worked the night shift. "This company is in my blood and I couldn't be more proud of the chance to work with all of you," Filosa said in a letter to employees seen by AFP. Filosa, 51, was unanimously selected by the board following a "thorough search process of internal and external candidates", Stellantis said in a statement. Stellantis said it would call an extraordinary shareholder meeting in the coming days to elect Filosa to the board to serve as an executive director of the company. "Meanwhile, to give him full authority and ensure an efficient transition, the Board has granted him CEO powers effective June 23," the statement said. "The Board selected Antonio Filosa to be CEO based on his proven track record of hands-on success during his more than 25 years in the automotive industry," Stellantis said. The company also praised "the depth and span of his experience around the world, his unrivalled knowledge of the Company and his recognised leadership qualities". Stellantis shares were flat at around midday following the announcement. - Tavares: good times, bad times - Stellantis, whose other brands include Ram trucks, Dodge, Chrysler and Maserati, has struggled with falling sales in its key North American market. US President Donald Trump's 25-percent tariffs on the car industry have added to the company's woes. Last month, Stellantis dropped its annual financial guidance due to uncertainty over the levies. Filosa, who has previously served as chief executive of the Jeep brand, was promoted to the role of chief operating officer for the Americas region in December. "Since his appointment, he has initiated the strengthening of the US operations," Stellantis said, noting that he "significantly" reduced excessive inventories at dealerships and reorganised the leadership team. Filosa was also named to the new role of chief quality officer earlier this year. Tavares engineered one of the most ambitious mergers in automotive history in 2021, when more than a dozen brands were put under the same roof. The Portuguese executive, who headed French group Peugeot-Citroen at the time, was appointed chief executive of the newly created French-Italian-American behemoth Stellantis. His three-year tenure was marked by high profit margins that were the envy of its rivals in the auto industry but the good times ended last year as sales plummeted in the United States. When his abrupt resignation was announced in December, Stellantis pointed out that "different views" had emerged between the board and Tavares. In February, the group shifted focus to the quality of its vehicles, unravelling the legacy left by CEO Carlos Tavares, a staunch advocate of cost-cutting. After the first few years marked by record profits, the disappointing quality of certain models and prices that were too high compared to the competition contributed to the collapse of the group's sales in the United States in 2024. In France, the CFE-CGC union said it expects Filosa to "break with the authoritarian, cost-cutting management style of the Tavares era". The Peugeot family, the second-biggest shareholder in Stellantis, issued a statement hailing Filosa's "in-depth knowledge of the realities on the ground and close understanding of the industrial culture" in the group.
Int'l Business Times
7 days ago
- Automotive
- Int'l Business Times
Jeep Owner Stellantis Names Italian Antonio Filosa As New CEO
Auto giant Stellantis, whose brands include Jeep, Peugeot and Fiat, on Wednesday named company veteran Antonio Filosa as its new chief executive officer as the US-European group navigates US tariffs and slumping North American sales. The Italian manager, who has led Stellantis in North and South America, will succeed Carlos Tavares, who abruptly quit in December. Filosa was unanimously selected by the board following a "thorough search process of internal and external candidates", Stellantis said in a statement. Stellantis said it would call an extraordinary shareholder meeting in the coming days to elect Filosa to the board to serve as an executive director of the company. "Meanwhile, to give him full authority and ensure an efficient transition, the Board has granted him CEO powers effective June 23," the statement said. "The Board selected Antonio Filosa to be CEO based on his proven track record of hands-on success during his more than 25 years in the automotive industry," Stellantis said. The company also praised "the depth and span of his experience around the world, his unrivalled knowledge of the Company and his recognised leadership qualities". Stellantis, whose other brands include Ram trucks, Dodge, Chrysler and Maserati, has struggled with falling sales in its key North American market. US President Donald Trump's 25-percent tariffs on the car industry has added to the company's woes. Last month, Stellantis dropped its annual financial guidance due to uncertainty over the levies. Filosa, who has previously served as chief executive of the Jeep brand, was promoted to the role of chief operating officer for the Americas region in December. "Since his appointment, he has initiated the strengthening of the US operations," Stellantis said, noting that he "significantly" reduced excessive inventories at dealerships and reorganised the leadership team. Tavares engineered one of the most ambitious mergers in automotive history in 2021 when more than a dozen brands, including Jeep, Fiat, Chrysler, Peugeot and Citroen, were put under the same roof. The Portuguese executive, who headed French group Peugeot-Citroen at the time, was appointed chief executive of the newly created French-Italian-American behemoth Stellantis. His three-year tenure was marked by high profit margins that were the envy of its rivals in the auto industry, but the good times ended last year as sales plummeted in the United States.
Local France
02-05-2025
- Automotive
- Local France
Tesla sales in France plunge 59 percent in April
French car body PFA, which compared registration figures from April with the same month last year, also said that since the beginning of 2025, there had been 7,556 Tesla registrations in France, 44 percent lower than for the same period in 2024. The dive in the EU's third-biggest car market follows first-quarter data from the European Automobile Manufacturers' Association (ACEA) that showed Tesla sales had slumped 45 percent across the bloc. Analysts say that Musk's prominent role close to Trump is a likely factor in the sharply lower Tesla sales in Europe. Musk has become known for axing US federal agencies and programmes, including those for overseas aid – and for twice making a gesture in a Trump inauguration rally that historians said looked like a Nazi salute. The billionaire has said he plans to step back from his role as unofficial head of the Trump Administration's Department of Government Efficiency to focus more on Tesla. The Wall Street Journal on Wednesday reported that Tesla's board had begun procedures several weeks ago to find a successor to Musk as CEO. The decline in Tesla sales in France came against a backdrop of stagnating electric-vehicle sales in the country in April. Overall car sales shrank by 5.64 percent, with a total 139,000 registrations. Advertisement The head of the PFA, Nicolas Le Bigot, said: 'We are at a worrying level in the market, which is very low compared to the pre-Covid period.' He attributed the decline to 'a situation of economic uncertainty' for French buyers. 'All that is amplified by uncertainties linked to the trade war that Trump has brought to all countries,' with his US tariffs, he said. PFA said that, for overall car sales in April, the US-European Stellantis group that makes Jeep, Peugeot, Fiat and Maserati vehicles saw registrations slump 12 percent. Renault sales were up two percent, and Volkswagen registrations were down by 8.5 percent.
NDTV
02-05-2025
- Automotive
- NDTV
Tesla Faces Demand Shortage In France, Sales Dive Sharply In April
France: Sales of Tesla cars in France plunged 59 percent in April, piling on more bad news for the electric vehicle company run by Elon Musk, the billionaire advisor to US President Donald Trump. French car body PFA, which compared registration figures from April with the same month last year, also said that since the beginning of 2025, there were 7,556 Tesla registrations in France, 44 percent lower than for the same period in 2024. The dive in the EU's third-biggest car market follows first-quarter data from the European Automobile Manufacturers' Association (ACEA) that showed Tesla sales had slumped 45 percent across the bloc. Analysts say that Musk's prominent role close to Trump is a likely factor in the sharply lower Tesla sales in Europe. Musk has become known for axing US federal agencies and programmes, including those for overseas aid -- and for twice making a gesture in a Trump inauguration rally that historians said looked like a Nazi salute. The billionaire has said he plans to step back from his role as the unofficial head of Trump's cost-cutting "Department of Government Efficiency" to focus more on Tesla. The Wall Street Journal on Wednesday reported that Tesla's board had begun procedures several weeks ago to find a successor to Musk as CEO. The decline in Tesla sales in France came against a backdrop of stagnating electric-vehicle sales in the country in April. Overall car sales shrank by 5.64 percent, with a total 139,000 registrations. The head of the PFA, Nicolas Le Bigot, said: "We are at a worrying level in the market, which is very low compared to the pre-Covid period." He attributed the decline to "a situation of economic uncertainty" for French buyers. "All that is amplified by uncertainties linked to the trade war that Trump has brought to all countries" with his US tariffs, he said. PFA said that, for overall car sales in April, the US-European Stellantis group that makes Jeep, Peugeot, Fiat and Maserati vehicles saw registrations slump 12 percent. Renault sales were up two percent, and Volkswagen registrations were down by 8.5 percent.
Malay Mail
01-05-2025
- Automotive
- Malay Mail
Tesla stalls in France: April sales nosedive 59pc amid EU backlash
PARIS, May 1 — Sales of Tesla cars in France plunged 59 per cent in April, piling on more bad news for the electric vehicle company run by Elon Musk, the billionaire adviser to US President Donald Trump. French car body PFA, which compared registration figures from April with the same month last year, also said that since the beginning of 2025, there were 7,556 Tesla registrations in France, 44 per cent lower than for the same period in 2024. The dive in the EU's third-biggest car market follows first-quarter data from the European Automobile Manufacturers' Association (ACEA) that showed Tesla sales had slumped 45 per cent across the bloc. Analysts say that Musk's prominent role close to Trump is a likely factor in the sharply lower Tesla sales in Europe. Musk has become known for axing US federal agencies and programmes, including those for overseas aid — and for twice making a gesture in a Trump inauguration rally that historians said looked like a Nazi salute. The billionaire has said he plans to step back from his role as the unofficial head of Trump's cost-cutting 'Department of Government Efficiency' to focus more on Tesla. The Wall Street Journal on Wednesday reported that Tesla's board had begun procedures several weeks ago to find a successor to Musk as CEO. The decline in Tesla sales in France came against a backdrop of stagnating electric-vehicle sales in the country in April. Overall car sales shrank by 5.64 per cent, with a total 139,000 registrations. The head of the PFA, Nicolas Le Bigot, said: 'We are at a worrying level in the market, which is very low compared to the pre-Covid period.' He attributed the decline to 'a situation of economic uncertainty' for French buyers. 'All that is amplified by uncertainties linked to the trade war that Trump has brought to all countries' with his US tariffs, he said. PFA said that, for overall car sales in April, the US-European Stellantis group that makes Jeep, Peugeot, Fiat and Maserati vehicles saw registrations slump 12 per cent. Renault sales were up two per cent, and Volkswagen registrations were down by 8.5 per cent. — AFP
