Vehicle manufacturers paid their CEOs and upper management millions in salaries and bonuses to lead them over the financial cliff.
Posted on 02/07/2026 1:07:39 AM PST by WhiteHatBobby0701
Stellantis on Friday announced it will take a $26.5 billion charge as the automaker cuts back on electric vehicle (EV) production, joining other manufacturers in taking a financial hit after misjudging consumer demand for EVs.
Stellantis – the parent company of brands including Chrysler, Jeep, Dodge and Ram – became the latest automaker to take a charge. The $26.5 billion charge is larger than those taken by Ford and General Motors in the wake of the end of federal EV subsidies.
The automaker had set ambitious EV goals under its former CEO, Carlos Tavares, who aimed for EVs to make up 100% of European sales and 50% of U.S. sales by 2030. Tavares was forced out in 2024 after U.S. sales plunged, where Stellantis is exposed because of its reliance on sales of high-margin Jeep and Ram pickups.
(Excerpt) Read more at foxbusiness.com ...
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Remember, Chrysler was stolen and given to the Agnelli family (Fiat, key owner in Stellantis) because Bob Nardelli refused to support Obama's 54.5 MPG CAFE and gave to GOP opponents in 2008. Obama created this boondoggle in the US, and now advanced by city-states such as San Francisco, Seattle, Boston, and Washington.
CAFE is a tax hike that can be arbitrarily imposed when a globalist wants.
Vehicle manufacturers paid their CEOs and upper management millions in salaries and bonuses to lead them over the financial cliff.
“... after misjudging consumer demand for EVs. “
Bull-shiite! Does anyone believe that all Big Auto companies made the same mis-calculation? With the exception of Toyota maybe? I don’t ... the Cho Bi Dung administration and representatives of the Green New Steal visited Big Auto and ‘suggested’ that BA force EVs on to the market ... or else.
EV isn’t trendy anymore. Gotta be AI. Watch that stock price rise.
They still have some serious quality issues...
California is trying to double down on all new car sales will EVs by 2035. They are coming up with $7.5K rebate program to replace the one the feds cancelled. Couple of problems with the proposed plan. Funding for rebates as of now is only $200M which is about 26.6K vehicles and only for first time EV buyers. There were over 400K BEVs and PHEVs purchased last year. The goal for this year is for 35% of new car sales to be EVs. If gas goes to $8 a gallon, they might make it.
EVs suck period and the only reason anyone sold them was the government subsidies.
We’re decades away from any worthwhile EV and they should be sold for city use only.
The Auto-Pen Administration had the auto industry convinced that they could make fat profits if they switched to EVs. The stupid, over-educated CEOs bought it hook, line and sinker.
“Go Woke, Go Broke!”
Who are the idiots in charge who ever chose to go down this road to begin with? I could have saved the company literally tens of billions of dollars had I been in charge of it. I’d have told Biden and the Gaia Worshipers to go screw themselves. We were going to stick with what works which is ICE cars. Less than 8% of the US has electric vehicles. They are totally unsuitable for most of the country due to lack of range, lack of infrastructure to support them, etc.
Just about everybody here saw this coming a mile away.
“misjudging”
What a bunch of BS, the fools that run these companies thought they could jump on that fake global warming bandwagon and enjoy the monopoly. The children that pick the cobalt from mines are overjoyed.
They thought they were getting into bed with big gov as big gov was shoving EVs down our collective throat. There was never five seconds that EVs were a good idea.
Yep - when the gubmint started giving tax breaks and telling us that EVs were gonna be mandated, a lot of folks decided to hop on the gravy train - it took them way too long to discover they had been tools of the despots.
CALCULATE THE AMOUNT OF TAX ONLY ON A GALLON OF GAS IN CALIF IF: YOU HAVE A CAR THAT GETS 30 MILES PER GALLON & THERE IS A 9 CENTS A MILE MILEAGE TAX ALONG WITH THE CURRENT GAS TAX & THE SALES TAX ON THE GAS TAX (WHICH IS ILLEGAL—_CANNOT TAX A TAX)
I GET $3.32577 PER GALLON ===JUST THE TAXES ALONE
Lithium battery based EVs were not (are not and perhaps never will be) ready for prime time. Fix the power grid infrastructure and find a better battery base material, such as aluminum or sodium. Nuclear power was not widely accepted because it came in with one helluva bang and the detractor crowd played on the public’s fear of the unknown.
Lithium-based batteries will not succeed as long as headlines report container ships spontaneously combusting, TSA justifiably imposes flight restrictions on battery powered devices and garages catch fire in the middle of the night. As I understand it, Al- and Na-based power units don’t carry that level of catastrophic risk, but still offer acceptable performance, range and convenience.
But we still need to work on the electric power generation and distribution issues.
You may be entertained by this youtube I made some 14 years ago, it was rather prescient looking back at it.
Youtube shadowbanned me some 14 years ago within a few hours after posting as it was sarcastic and humorous about their fake climate god. To this day they have blurred all my videos and shut off comments, it is still NOT searchable. They have since have added their own BS lying comment. The company's software 'text to graphics' that made these dialogue characters has long been out of business, any suggestions from anybody on an AI program to make a new one would be greatly appreciated.
From what I’ve read California isn’t going implement the mileage tax just yet, just study it some more. The tax could be anywhere from 2 to 9 cents if implemented. There is also confusion on whether ICE vehicles would be double taxed.
Besides government edicts, I think the big investment houses had a big say on pushing the net zero nonsense. I am guessing the auto CEOs were all surrounded by yes men and women.
The Federal Govt doesn’t pay taxes. What’s California going to do? Force them to pay it? 😂
Alternatively, Stellantis lacked the engineering talent to create an EV
Rather than engineer an electrify vehicle, the Stellantis engineers tried to electrify existing vehicles.
Tesla EV’s sell well in Europe simply because they are superior to all others.
Chrysler was dead in the water. Fiat was foolish to try to resurrect what Daimler Benz rejected.
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