Stellantis plans nine North American vehicles priced below US$40,000 (CDN$55,000) by 2030.
Jeep, Ram, Peugeot, Fiat and Pro One will receive most product investment.
North American capacity utilization is targeted to reach 80% by 2030.
Stellantis is preparing a major North American product push, built in part around lower-priced vehicles, with nine planned models expected to start below US$40,000 (CDN$55,000) by 2030.
Two of those vehicles are targeted below US$30,000 (CDN$41,500), highlighting a stronger focus on affordability as ever-higher transaction prices have strained entry-level and middle-income buyers.
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The plan forms part of FaSTLAne 2030, a five-year strategy led by CEO Antonio Filosa and presented to investors on May 21. Stellantis said the program includes about US$70 billion in global investment through 2030.
Jeep, Ram, Peugeot, Fiat and the Pro One commercial division are set to receive 70% of brand and product investment. Stellantis is targeting 25% revenue growth in North America, along with adjusted operating income margins of eight to 10%. The automaker also aims to increase regional volume by 35% and launch 11 all-new vehicles. Manufacturing efficiency is another core target. Stellantis expects increased U.S. production to lift North American capacity utilization to 80% by 2030.
In Europe, the company plans to raise factory utilization from 60% to 80% while cutting annual capacity by 800,000 units. The plan also includes efforts to use excess factory capacity through contract manufacturing. It’s unclear what automaker will be contracted but a Chinese company seems likely.
Stellantis said more than half of global volume will be built on three platforms by 2030. One of them, STLA One, is intended to increase commonality and improve competitiveness across vehicle lines.
Stellantis plans to invest more than US$27 billion in global platforms, powertrains and new technologies. The actual figure, €24 billion, is part of a larger €60-billion plan.
The company illustrated the strategy around six priorities: sharper brand management, targeted technology investment, partnerships, manufacturing optimization, execution discipline and greater regional authority.
Source: Automotive News
