From CNBC: 2024-09-13 11:27:31

Jeep faces the challenge of achieving 1 million vehicle sales domestically by 2027, despite five years of sales declines. Jeep CEO Antonio Filosa believes the worst days are behind, with a 9% sales uptick following price cuts and increased marketing spending. Filosa aims to regain market share and introduce new electrified models to meet sales targets.

Stellantis aims to focus on profits over market share, targeting 1.5 million global SUV sales by 2027. CEO Carlos Tavares’ cost-cutting initiatives have allowed for flexible pricing and incentives to drive sales. Jeep plans to meet sales goals by launching new electric vehicles and increasing media spending by 20% to accelerate growth.

Jeep faces quality issues and safety concerns as it works to increase vehicle reliability in the industry. The company is cooperating with U.S. regulators on an investigation into reports of underhood fires in newer Jeep models. Despite challenges, Jeep remains optimistic about the launch of new electric vehicles and expects next year to be a different story in terms of growth and sales.



Read more at CNBC: Jeep CEO enacts turnaround plan after significant sales declines