Stellantis bets on cheap Jeep, summer sales outlook, new car inventory spikes

Hey everyone. Between EV tariffs and Tesla’s shareholder vote, this was a busy week for the auto sector.

If you missed any of the big stories and want the news summarized in one concise, transparent package, consider checking out my Week In Review newsletter. You can sign up here.

— CDG

1. Can a cheap Jeep EV turn things around for Stellantis?

Stellantis CEO Carlos Tavares admitted to making “arrogant” mistakes in the brand’s U.S. operations that have been weighing heavily on the automaker for months.

What they’re saying: “We had a convergence of three things that should have triggered, from me and nobody else, an immediate task force to address those things,” said Tavares at the company’s recent Investors Day. … Read More.

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2. How inventory and incentives are affecting the summer sales outlook

The return of incentives, recovering supply and pent-up demand are expected to drive strong sales throughout this summer, even though consumers are adopting new preferences due to affordability challenges, according to Cars Commerce’s Industry Insights Report. … Read More.

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3. New vehicle inventory is slowly creeping up to the 3 million mark

New car supply rose in May as inventory continues to recuperate, but pre-pandemic levels are still a little ways off. 

Why it matters: Model year 2025 vehicles are starting to fill up dealer lots, yet a good chunk of 2023s are still outstaying their welcome. Incentives and discounts are likely to stay and may even increase. This is especially true given the Fed’s latest (and widely expected) decision to leave interest rates unchanged. … Read More.

• Ford ending EV certification program after two years.

• Tesla shareholders vote in favor of Musk’s $56 billion compensation.

• Germany looks to offset hiked tariffs on Chinese EVs.

• Conflict within UAW mounts as Fain faces probe.

• EPA emissions rules to take priority over fuel economy standards.

Thanks for reading everyone.

— CDG