stellantis North America COO and Jeep CEO Antonio Filosa speaks during the Stellantis press conference at the Automobility LA 2024 car show at Los angeles Convention Center in Los Angeles, California, November 21, 2024.
Etienne Laurent | AFP | Getty Images
DETROIT – Five years after the transatlantic automaker Stellantis was formed through a merger, the business hasn’t necessarily panned out as investors hoped.
U.S. shares of the company – created through a $52 billion combination of Italian American automaker Fiat Chrysler and France-based Groupe PSA on Jan. 16,2021 - are down roughly 43% in the past five years.Italian-listed shares also are off roughly 40%.
As the combined company’s stock debuted on the New York Stock Exchange on Jan. 19, 2021, days after the merger was completed, shares of the automaker were largely in the black – up as high as 74% in March 2024 – until stellantis reported troubling financial results that year amid cost-cutting efforts meant to support higher profits and its multibillion-dollar push into electric vehicles.
Manny of those plans are being altered or eliminated under new Stellantis CEO Antonio Filosa, who succeeded Carlos Tavares last summer. Tavares, a longtime automotive executive, was largely credited with forming the company, but abruptly left Stellantis in December 2024.
