Cyberattack Shuts Down Auto Dealership Software Systems Across The Nation

(Scott Olson/Getty Images)

Stellantis shares are falling after the Jeep maker logged a 70% profit plunge in 2024

The parent company of Jeep, Dodge, and Ram reported earnings Wednesday.

2/26/25 9:02AM

Just because it builds some vehicles to go off-road doesn’t mean Stellantis enjoys a bumpy ride.

The fourth-largest global carmaker reported earnings Wednesday, and its full-year 2024 profit came in at $5.8 billion, down 70% from the year prior.

Net revenues fell 17% on the year to $164.5 billion. The Jeep, Dodge, and Ram parent was down more than 4% in premarket trading.

Stellantis’ consolidated shipments fell 9% year over year on the quarter, with a 28% drop in North America. The automaker has made efforts to shrink its bloated US inventories, and said it’s successfully decreased dealer stock by 20% from last year in the country.

Last month, Stellantis said its US sales fell 15% last year, dragged down primarily by Dodge (down 29%), and Ram (down 19%). US Jeep sales were down 9% on the year.

Following a monthslong public spat with its US dealer network over bloating inventories and poor sales, Stellantis ousted CEO Carlos Tavares in December.

The company expects lackluster profitability in 2025 and issued a mid-single-digit growth outlook for its operating income margin.

Stellantis still hasn’t named its next CEO — it says that’ll happen in the first half of this year — but it has been slashing its prices. Its average new vehicle transaction price has fallen by about $6,000 over the past year. Per data from Cox Automotive, new Jeep prices fell to about $49,000 in January, down 9% from a year earlier and the brand’s lowest level in three years.

Since the departure of Tavares, Stellantis has “recommitted” to US factory investments and moved the launch of a hybrid Ram pickup ahead of a full-electric version.

This year has the potential to get weird fast for Stellantis and rivals Ford and GM. Increased EV competition in China is still hurting bottom lines, and tariff-related obstacles could send car prices even higher. If President Trump’s planned 25% tariffs do ultimately get tagged onto vehicles, some analysts believe the average price of a car could rise by $3,000.

Max Knoblauch10/24/25

Premium seats help push airlines higher following third-quarter results

Shares of American Airlines are climbing toward the carrier’s best trading day since August 12, when ultra-budget rival Spirit issued its initial warning about its ability to survive. American’s shares are up more than 7% on Friday afternoon.

Investors’ optimism comes a day after American posted a better-than-expected full-year earnings forecast. In a call with investors, American said that it’s ramping up its premium cabin offerings.

“Our ability to grow capacity in premium markets will be further supported as we take delivery of new aircraft and reconfigure our existing fleet. These efforts will allow us to grow our premium seats at nearly two times the rate of main cabin seats,” CEO Robert Isom said. American CFO Devin May said that nose-to-tail retrofits of certain wide-body jets will bump the number of premium seats available on those planes by 25%.

Extra legroom has been a boon for major carriers, particularly this quarter. Delta Air Lines said its premium product revenue grew 9% in Q3, compared to a 4% drop in economy seat revenue. Similarly, United Airlines said its premium revenue grew 6%, outpacing economy. Shares of both airlines were up more than 3% on Friday.

Carriers with less exposure to first- and business-class tickets like Southwest Airlines and JetBlue didn’t see the same amount of momentum on the day.