By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

News Junction

Notification Show More
Font ResizerAa
  • Home
  • World News
    World NewsShow More
    Did the US flinch first in tariff war with China? | Trade War News
    Did the US flinch first in tariff war with China? | Trade War News
    May 14, 2025
    Saudis use burgers to impress Trump (VIDEO) — RT World News
    Saudis use burgers to impress Trump (VIDEO) — RT World News
    May 14, 2025
    Sony shares rise in choppy trade as PlayStation maker announces .7 billion share buyback
    Sony shares rise in choppy trade as PlayStation maker announces $1.7 billion share buyback
    May 14, 2025
    U.S. to cut tariffs on small packages from China to as low as 30% – National
    U.S. to cut tariffs on small packages from China to as low as 30% – National
    May 14, 2025
    A book points to Biden’s decline and Democrats’ cowardice: 6 takeaways
    A book points to Biden’s decline and Democrats’ cowardice: 6 takeaways
    May 14, 2025
  • Business
    BusinessShow More
    Ukraine blows up bridges to consolidate its positions in Russia
    Ukraine blows up bridges to consolidate its positions in Russia
    August 18, 2024
    Commentary: AI phones from Google and Apple will erode trust in everything
    Commentary: AI phones from Google and Apple will erode trust in everything
    August 18, 2024
    The most famous Indian Dishes – Insights Success
    The most famous Indian Dishes – Insights Success
    August 18, 2024
    Life on the road as a female long rides cyclist
    Life on the road as a female long rides cyclist
    August 18, 2024
    UK inflation rises to 2.2%
    UK inflation rises to 2.2%
    August 18, 2024
  • Cryptocurrency
    CryptocurrencyShow More
    Top South Korean presidential hopefuls support legalizing Bitcoin ETFs
    Top South Korean presidential hopefuls support legalizing Bitcoin ETFs
    May 14, 2025
    Ex-SEC Chair Gary Gensler privately supported crypto — McHenry
    Ex-SEC Chair Gary Gensler privately supported crypto — McHenry
    May 14, 2025
    Bitcoin Pepe nears .2M on Solana hype
    Bitcoin Pepe nears $8.2M on Solana hype
    May 14, 2025
    eToro prices IPO at , eyes Nasdaq amid shifting sentiment
    eToro prices IPO at $52, eyes Nasdaq amid shifting sentiment
    May 14, 2025
    Bitcoin (BTC) Still Dominates the Market With 3,000 Price Tag, But Investors Are Rushing to Get in On Ruvi AI (RUVI) Thanks to 100% Early Bonus and 20,000% Price Prediction
    Bitcoin (BTC) Still Dominates the Market With $103,000 Price Tag, But Investors Are Rushing to Get in On Ruvi AI (RUVI) Thanks to 100% Early Bonus and 20,000% Price Prediction
    May 14, 2025
  • Technology
    TechnologyShow More
    How to Improve Your Spotify Recommendations
    How to Improve Your Spotify Recommendations
    August 18, 2024
    X says it’s closing operations in Brazil
    X says it’s closing operations in Brazil
    August 18, 2024
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    August 18, 2024
    Scientists Want to See Videos of Your Cat for a New Study
    Scientists Want to See Videos of Your Cat for a New Study
    August 18, 2024
    OpenAI’s new voice mode let me talk with my phone, not to it
    OpenAI’s new voice mode let me talk with my phone, not to it
    August 18, 2024
  • Entertainment
  • Sports News
  • People
  • Trend
Reading: Stellantis CEO calls out Tesla profit dip as EV maker faces mounting competition in changing landscape
Share
Font ResizerAa

News Junction

  • World News
  • Business
  • Technology
  • Cryptocurrency
  • Trend
  • Entertainment
Search
  • Recent Headlines in Entertainment, World News, and Cryptocurrency – NewsJunction
  • World News
  • Business
  • Cryptocurrency
  • Technology
  • Entertainment
  • Sports News
  • People
  • Trend
Have an existing account? Sign In
Follow US
News Junction > Blog > Trend > Stellantis CEO calls out Tesla profit dip as EV maker faces mounting competition in changing landscape
Stellantis CEO calls out Tesla profit dip as EV maker faces mounting competition in changing landscape
Trend

Stellantis CEO calls out Tesla profit dip as EV maker faces mounting competition in changing landscape

Published July 28, 2023
Share
4 Min Read
SHARE

There are a number of reasons Tesla has garnered the success and scale that it enjoys in the EV market today, not the least of which are an early-mover’s advantage and the impressive commitment to its Supercharger network. Now, though, as more legacy carmakers are entering the fray, Tesla’s previous advantages may not be enough — at least that’s what Stellantis’s CEO, Carlos Tavares, seems to think (via Reuters).

“They are entering my world, the world of tight pricing, cost competitiveness, and the operational issues that a big company like ours may face.” – Carlos Tavares, CEO, Stellantis.

Stellantis’s CEO may have a point here, as the last few months have seen significant changes to both Tesla’s line-up and the EV market as a whole. Not only have legacy carmakers, like BMW, Chevrolet, Ford, Hyundai, Kia, Stellantis, and Volvo started to seriously compete in the electric-vehicle market, but Tesla is facing stiff competition on the Chinese front, too.

“If we are racing for the bottom in terms of facing the Chinese with price cuts, Tesla will have problems with that strategy before we do, because we are more profitable than Tesla.”

Whether it be due to the increase in competition, a shift in the demand, supply chain, and production efficiency, or some combination of the lot, Tesla has recently suffered a bit of a blow to its profit margins. This is due to an aggressive pricing strategy it adopted after initiating a price war earlier this year.

“The result of the fact that Tesla is now entering my world, is that their profitability moved from more than 17% in the first half of 2022 to 10.5% in the first half of 2023. They were more profitable than Stellantis, now they are less profitable than Stellantis.”

On the other hand, Tesla’s substantial price drops may be some sort of 4D-chess manoeuvre to apply more pressure to its competition. It appears to be diversifying its revenue streams significantly by opening its Supercharger network to other EV brands through the increased adoption of its NACS port.

Unfortunately, this diversification strategy may come at the cost of eroding the competitive advantage Tesla’s Supercharger network afforded the company. For the first time ever, though, electric vehicles are approaching up-front price parity with their ICE counterparts, which can only be a good thing for consumers looking to get their hands on an EV.

For its part, Stellantis appears to be targetting multiple fronts with its EV strategy, with its colourful Fiat 500e and 600e compact hatchbacks, Jeep Avenger EVs, and the upcoming RAM 1500 REV, among others. It remains to be seen how profitable Stellantis’s EV efforts are, since the company is a little late to the game.

It’s safe to say that a lot of car buyers are probably holding out for more well-known brands to bring feasible EVs to market before making the switch to electric. The automotive industry does seem to be moving in that direction, especially with the recent announcement of an ambitious new EV charging network being spooled up by a bunch of traditional car brands, including BMW, Hyundai, Kia, and Stellantis.

Get the ChargePoint Home Flex EV Charger on Amazon

#Stellantis #CEO #calls #Tesla #profit #dip #maker #faces #mounting #competition #changing #landscape

TAGGED:AutomotivebenchmarksBusinesscallscarCEOchangingCommentCompetitiondipElectric vehiclesEVfacesgraphics cardInterviewlandscapelaptopMakermountingnetbooknotebookprocessorProfitprofitabilityreportsreviewreviewsStellantisTeslatesttests
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article How Commercial Video Production Can Help Your Business – Insights Success How Commercial Video Production Can Help Your Business – Insights Success
Next Article Is this the best Sunday roast of all time? Lunch you have to wait for FOUR YEARS to try at a Bristol pub is hailed as ‘superb’ and ‘faultless’ by diners Is this the best Sunday roast of all time? Lunch you have to wait for FOUR YEARS to try at a Bristol pub is hailed as ‘superb’ and ‘faultless’ by diners
- Advertisement -

Latest Post

Did the US flinch first in tariff war with China? | Trade War News
Did the US flinch first in tariff war with China? | Trade War News
World News
Top South Korean presidential hopefuls support legalizing Bitcoin ETFs
Top South Korean presidential hopefuls support legalizing Bitcoin ETFs
Cryptocurrency
Saudis use burgers to impress Trump (VIDEO) — RT World News
Saudis use burgers to impress Trump (VIDEO) — RT World News
World News
Ex-SEC Chair Gary Gensler privately supported crypto — McHenry
Ex-SEC Chair Gary Gensler privately supported crypto — McHenry
Cryptocurrency
Sony shares rise in choppy trade as PlayStation maker announces .7 billion share buyback
Sony shares rise in choppy trade as PlayStation maker announces $1.7 billion share buyback
World News
Bitcoin Pepe nears .2M on Solana hype
Bitcoin Pepe nears $8.2M on Solana hype
Cryptocurrency
- Advertisement -

You Might Also Like

Review: ‘Like a Dragon: Infinite Wealth’ Is an Impressive Achievement in Storytelling
Trend

Review: ‘Like a Dragon: Infinite Wealth’ Is an Impressive Achievement in Storytelling

January 26, 2024
Connection-Building Prompt Apps : Quiver
Trend

Connection-Building Prompt Apps : Quiver

January 29, 2024
Top 80 Social Good Trends in July
Trend

Top 80 Social Good Trends in July

July 8, 2024
Recent Match Report – Hampshire vs Yorkshire Group A 2023
Sports News

Recent Match Report – Hampshire vs Yorkshire Group A 2023

August 18, 2023

About Us

NEWS JUNCTION (NewsJunction.xyz) Your trusted destination for global news. Stay informed with our timely and accurate reporting on diverse topics, including politics, technology, science, entertainment, sports, and more. Count on us for unbiased and reliable updates at your fingertips.

Quick Link

  • About
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Contact

Top Categories

  • World News
  • Business
  • Technology
  • Entertainment
  • Cryptocurrency
  • Sports News
  • Trend
  • People

Subscribe

Subscribe to our newsletter to get our newest articles instantly!

    © 2023 News Junction.
    • Blog
    • Advertise
    • Contact
    Welcome Back!

    Sign in to your account

    Username or Email Address
    Password

    Lost your password?