Stellantis dealers in the U.S. are excited, accusing Chief Executive Officer Carlos Tavares of presiding over the “rapid degradation” of the automaker’s brands. Another auto CEO, Swamy Kotagiri of Magna International Inc., said the supplier will take a more cautious approach to its contract manufacturing business.
These are two of the top stories of the week, as determined by the interest of Automotive News readers.
Stellantis dealers have called on Tavares to spend more money to clear old inventory from their lots and criticized “short-term decision-making” that boosted profits last year but cost market share.
Magna is scaling back hopes for contract assembly in North America as it grapples with the end of Fisker Ocean production in Austria following the electric vehicle startup’s bankruptcy.
Electric vehicle makers including Tesla, Rivian and Lucid are planning a surge in low-cost models in the coming years to capture skeptical consumers as electric vehicle sales cool in the U.S.
General Motors Co. and Hyundai Motor Co. have agreed to explore partnerships in a range of areas including vehicle development and production as well as electric and hydrogen powertrain technologies, in a move that underscores growing pressure on the auto industry to cut costs and achieve massive scale.
Nissan is cutting production of two key models — including its best-selling Rogue crossover — to reduce oversupply.