business

J. Edward Moreno12/2/24

Stellantis stock slumps after CEO departure

Jeep maker Stellantis’ stock price slid more than 7% Monday morning after its CEO, Carlos Tavares, announced his resignation Sunday evening.

The Dutch carmaker’s stock is now at its lowest point since October 2022. Tavares had been CEO since January 2021, after he led the merger of Fiat Chrysler Automobiles and France’s PSA Group, creating a new company under the name Stellantis. Before the merger, he was CEO of PSA Group.

Stellantis — which makes Jeep, Dodge, and Maserati vehicles, among others — has faced slumping sales and profits, largely driven by plummeting sales in North America. In its most recent quarter, it reported sales of $12.5 billion in North America, down from almost $20 billion in 2020.

The company said in September that it would reduce shipments in North America by more than 200,000 vehicles in the second half of 2024 compared to 2023. Part of the sales slump has been attributed to its vehicles being pricier than its competitors’.

In August, Stellantis announced plans to cut up to 2,450 jobs in a Detroit-area assembly plant.

Board Accepts Carlos Tavares’ Resignation as Chief Executive Officer

Stellantis CEO

Stellantis — which makes Jeep, Dodge, and Maserati vehicles, among others — has faced slumping sales and profits, largely driven by plummeting sales in North America. In its most recent quarter, it reported sales of $12.5 billion in North America, down from almost $20 billion in 2020.

The company said in September that it would reduce shipments in North America by more than 200,000 vehicles in the second half of 2024 compared to 2023. Part of the sales slump has been attributed to its vehicles being pricier than its competitors’.

In August, Stellantis announced plans to cut up to 2,450 jobs in a Detroit-area assembly plant.

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Yum! Brands might have found a potential buyer for Pizza Hut

Yum! is in exclusive talks with private equity firm LongRange Capital about a sale, per reports.

UK Daily Life 2020 Pizza Hut

hot dogs & half tanks

Costco’s gas stations are breaking records as drivers seek cheaper fuel

Higher prices have pushed many members to the retailer’s pumps for the first time.

Costco gas prices

business

Max Knoblauch5/29/26

The Trump administration is reportedly planning a 50% made-in-America requirement for USMCA tariff relief

Qualifying for USMCA-related lower tariffs may soon require more US-made vehicle components, according to reporting by The Wall Street Journal.

The Trump administration is reportedly planning to introduce a 50% US content requirement for vehicles covered by the trade pact to receive lower tariffs. The content would be measured by cost, according to the WSJ.

There currently isn’t any US-specific requirement for those lower tariff rates, but in order to receive preferential tariffs, vehicles are must contain at least 75% regional content (components made in North America). Per Reuters reporting, the Trump admin is seeking to raise the regional requirement to 82%.

These reported plans are subject to change as the US negotiates USMCA terms with Mexico over the next few months.

Overall, Tesla will likely have the easiest time qualifying for any stricter requirements. The automaker’s vehicles contained the highest amount of US/Canadian content in 2025, according to American University research. Ford, GM, and Stellantis all scored lower.

Notably: the underlying government data that many domestic content measurements rely on intentionally combines US and Canadian components, so it’s difficult to know exactly how much of any given vehicle is specifically US-made.

Exclusive | Trump Administration Wants Autos Under USMCA to Be at Least 50% Made in America

Exclusive | Trump Administration Wants Autos Under USMCA to Be at Least 50% Made in America

There currently isn’t any US-specific requirement for those lower tariff rates, but in order to receive preferential tariffs, vehicles are must contain at least 75% regional content (components made in North America). Per Reuters reporting, the Trump admin is seeking to raise the regional requirement to 82%.

These reported plans are subject to change as the US negotiates USMCA terms with Mexico over the next few months.

Overall, Tesla will likely have the easiest time qualifying for any stricter requirements. The automaker’s vehicles contained the highest amount of US/Canadian content in 2025, according to American University research. Ford, GM, and Stellantis all scored lower.

Notably: the underlying government data that many domestic content measurements rely on intentionally combines US and Canadian components, so it’s difficult to know exactly how much of any given vehicle is specifically US-made.

business

Tom Jones5/29/26

The $640,000 Luce makes the average Ferrari look like a bargain

Put aside the shape; put aside the smoothing out of Ferrari’s iconic sharp edges; put aside, even, the calls from former Chairman and President Luca Cordero di Montezemolo to “take the Prancing Horse off.” On the grounds of price alone, Luce detractors might have a point.

By now, many of us will have read the criticisms of Ferrari’s first fully electric vehicle, as the Luce — which was unveiled to the world earlier this week and promptly saw the company’s shares crash out in New York and Milan — gets subtly shaded by competitors online and not-so-subtly shaded by basically everyone else.

What makes all of this worse for Ferrari is that, even by the luxury car maker’s notoriously high standards, they’ve slapped a pretty hefty price tag on the Luce, and the company’s CEO, Benedetto Vigna, has already been forced to defend the €550,000 ($640,000) price point, saying yesterday that it’s “fair to pay for innovation,” per Reuters.

While Ferrari’s cars have been getting more expensive of late, as recently as 2022, Ferrari’s average revenue per car sold was around $340,000. At nearly twice that price, this new electric model is obviously proving a little much (visually, conceptually, and financially) for many loyal and long-standing fans of the Prancing Horse to stomach.

Ferrari Luce cost chart — Sherwood News

Ferrari’s EV push is testing what makes a Ferrari a Ferrari

Ferrari’s EV push is testing what makes a Ferrari a Ferrari

By now, many of us will have read the criticisms of Ferrari’s first fully electric vehicle, as the Luce — which was unveiled to the world earlier this week and promptly saw the company’s shares crash out in New York and Milan — gets subtly shaded by competitors online and not-so-subtly shaded by basically everyone else.

What makes all of this worse for Ferrari is that, even by the luxury car maker’s notoriously high standards, they’ve slapped a pretty hefty price tag on the Luce, and the company’s CEO, Benedetto Vigna, has already been forced to defend the €550,000 ($640,000) price point, saying yesterday that it’s “fair to pay for innovation,” per Reuters.

While Ferrari’s cars have been getting more expensive of late, as recently as 2022, Ferrari’s average revenue per car sold was around $340,000. At nearly twice that price, this new electric model is obviously proving a little much (visually, conceptually, and financially) for many loyal and long-standing fans of the Prancing Horse to stomach.

Ferrari Luce cost chart — Sherwood News

Claire Yubin Oh

back in my day...

Temu’s US web traffic quietly recovered from last year’s tariff blow

Temu’s parent company’s stock is still under pressure though, both this year and this morning.

Temu Package Stock Photos

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