Stellantis Stock Has Massive Upside, but Q3 U.S. Sales Tell a Bittersweet Story
Stellantis' Ram brand seems to be gaining early traction during the automaker's turnaround and outsold Jeep in the U.S. for the first time ever.
Overview
We have great people, global scale, unmatched brands, deep regional roots and strong dealer partnerships. Combined with innovation, execution and win-win partnerships, those strengths position us to deliver on our FaSTLAne 2030 ambitions -- moving people with brands and products they love and trust.
That was Stellantis (NYSE: STLA) CEO Antonio Filosa earlier this year discussing the massive $70 billion turnaround strategy for the beleaguered automaker as part of its Fastlane 2030 strategy. Fortunately, the turnaround plan, by all accounts, seems solid and checks a lot of boxes, including creating a stronger identity with four core brands receiving the bulk of investment, attacking pent-up demand for affordable vehicles, and significantly shortening its vehicle development time.
Details
That said, you can't turn around a massive global automaker overnight, and Stellantis' third-quarter U.S. sales -- which remain its profit engine -- were bittersweet, with Ram surging while Jeep reversed. In fact, Ram outsold Jeep for the first time ever -- or since Ram was separated from Dodge in 2009 -- during Q3.
Source
Originally published at www.fool.com.