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Seeking higher margins, Stellantis CEO Tavares lost some core customers

The article from Reuters discusses how Carlos Tavares, CEO of Stellantis, has acknowledged that the company's strategy to focus on higher-margin vehicles has led to the loss of some core customers. During a media roundtable in Auburn Hills, Michigan, Tavares admitted that while the shift towards more profitable models was necessary for financial health, it has resulted in a disconnect with customers who preferred the company's more affordable offerings. He emphasized the need to balance profitability with maintaining a broad customer base, especially in light of the competitive pressures in the automotive industry and the transition to electric vehicles. Tavares also highlighted the importance of not alienating loyal customers as the company navigates through these changes.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/autos-transportation/seeking-higher-margins-stellantis-ceo-tavares-lost-some-core-customers-2024-12-02/ ]