UAW, U.S. dealers increase criticism of Stellantis CEO over cuts, sales declines
Publishing timestamp: 2024-09-12 16:19:52
Summary
Stellantis' U.S. dealer network and the United Auto Workers union are criticizing CEO Carlos Tavares for recent sales declines, factory production cuts, and other decisions that they believe are detrimental to the automaker's business. The dealer council condemned Tavares for prioritizing profits at the expense of sales, market share, and the reputation of its American brands. Tavares has been on a profit-driven, cost-cutting mission since the merger between Fiat Chrysler and France's PSA Groupe in January 2021. The UAW is holding a rally to condemn the "gross mismanagement" at the company.
Sentiment: NEGATIVE
Tickers: STLA,
Keywords: transportation, business, business news, autos, breaking news: business, united states, stellantis nv, carlos tavares,
Source: https://www.cnbc.com/2024/09/12/dealers-uaw-condemn-stellantis-ceo-cuts-sales-declines.html