DETROIT (AP) — Struggling Jeep and Ram maker Stellantis is looking for a CEO to succeed Carlos Tavares, but the company says it's just part of a normal leadership succession plan. Tavares has been under fire from U.S.
DETROIT — Struggling Jeep and Ram maker Stellantis is looking for a CEO to succeed Carlos Tavares, but the company says it's just part of a normal leadership succession plan.
In a statement Monday, Stellantis said Tavares' five-year contract is a little over a year from its expiration date in 2026. Growing dealer inventory and high prices brought a rebuke from the head of the U.S. dealers council, who called on the company to boost discounts to move vehicles off of their lots.
The company says it intends to meet its commitment to reopen Belvidere and build the battery plant, but it needs the delays due to slowing sales. In the U.S., for example, Stellantis had just over 430,000 vehicles in its inventory at the end of June. That number was reduced by 40,000 in July and August, and the company has set a target of cutting it by a total of 100,000 by the start of next year. “We’re going to continue to see reductions in September and throughout the year,” she said.
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