2024 has been a rocky year for Stellantis despite it producing some of the best new cars. The company has been plagued by poor sales, recalls, and even lawsuits against its suppliers. Now, after more disappointing news, the automotive giant has said it plans to cut brands that lose money. Currently, Stellantis owns 15 car brands, most of which are struggling. 

Stellantis cars have had a bad year

Stellants is responsible for some of the best new cars on the market. However, that hasn’t equated to the success the company is used to. Recently, the company reported a net profit of $6 billion. However, this means that Stellantis cars earned about 48% less than they did in 2023 for the first half of the year. According to Autoblog, the company’s shares are now down about 10 percent. 

Now, Carlos Tavares, the CEO of Stellantis, has said that it will eliminate cars and brands that don’t make the company money. According to him, “We cannot afford to have brands that do not make money.” Of course, the CEO didn’t say which car brands would be at risk, but many people believe Maserati could be among them. Others include Lancia and DS Automobiles. 

It’s also important to note that many Stellantis cars have mounting inventory on dealership lots. This comes as 2025 models are set to arrive. The 2024 Dodge Hornet has been a primary culprit, as it’s among the automotive giant’s slowest-selling models. Still, Dodge should be safe, as it’s one of the most iconic American car brands. 

Many feel that cutting underperforming brands would be a great idea. This is because there is a general consensus that Stellantis had gotten too big over the years. Unfortunately, the company has taken other cost-cutting measures, such as suing its suppliers.