Stellantis is reevaluating its long-term strategic plan to get the company back on track after a prolonged period of underperformance. New CEO Antonio Filosa announced the plan to staff on Wednesday. It was his first public appearance since formally stepping into the role on Monday.
“We have already started looking at our long-term strategic plan, which we will share when we are ready,” Filosa stated in a video call, which Reuters reporters reviewed.
The particular strategy under review is “Dare Forward 2023,” unveiled by former CEO Carlos Tavares in 2022. The long-term plan aimed to double net sales by 230 while maintaining double-digit profit margins. It also aimed for 100% of its sales in Europe and 50% in the United States to come from electric vehicles (EVs) by the end of the decade. Additionally, Stellantis aimed to expand its presence in emerging markets outside of Europe and the U.S., with a goal of increasing those regions’ share of the company’s total group sales to more than 25%.
While these targets were ambitious, the company failed to gain traction. In 2024, Stellantis faced commercial and operational setbacks in both the U.S. and European markets. Declining sales, production issues, and management missteps forced the carmaker to abandon its annual financial guidance, eventually leading to Tavares’s sudden exit from the company.
Filosa officially stepped into his new role on Monday and wasted no time initiating changes. On day one, he announced a major reshuffling of Stellantis’ executive leadership. The strategic plan review comes at a time when global automakers are under pressure to recalibrate their operations. A slowdown in EV adoption and volatile global trade policies have left several major manufacturers reevaluation their long-term plans. For Stellantis, the challenge will be charting a more realistic path forward and regaining traction in its key markets.
