Which Stellantis brands have the greatest potential?

Along with Geely, Stellantis is the car group with the largest number of brands in its range. Created in 2021 following the merger between PSA (5 brands at the time) and FCA (9 brands), it has retained all the brands, and the new CEO has decided to give each of them a 10-year period to determine their viability.

Three years after the merger, however, the situation is complicated. Managing so many brands that often overlap can be difficult. Add to this the growing pressure from Chinese manufacturers and the targets for electrification, and the problem is considerable.

Which are the most promising brands?

A brand's potential today is measured by its ability to attract numerous markets and customers around the world. It is not enough to be competitive in a single market or region. Increasing competition from China is making life difficult for everyone, especially for brands with strong exposure to a single market.

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Stellantis global sales by brand

That's why we think Jeep has been and remains Stellantis' most interesting brand. Despite the difficulties it faces today, it is widely known, operates in the right segment and has a good history. This iconic brand accounted for 17% of the Group's worldwide sales in 2023, with 1.04 million units. The total fell by 6% in 2022 due to some demand issues in the US and Canada and the cessation of local production in China.

However, Jeep has found a good position in Brazil and Europe and could improve its presence in the Middle East, Africa and South-East Asia. The challenge is to offer more products on a more regular basis. 

Ram also has potential. It is an American brand with no presence in Europe or Asia. However, it operates in the pick-up and light commercial vehicle segments, which are highly strategic in developing economies, where growth is on the cards.

Latin America, Africa, the Middle East and Turkey, Central Asia, India and South-East Asia will account for 22% of global light vehicle sales in 2023 (excluding Russia and Iran). Add Australia and New Zealand, where pick-ups are very popular, and you have almost a quarter of global car sales.

* Bold emerging markets.

Sales of pick-up trucks, commercial vans and light commercial vehicles in these markets totalled 3.8 million units. This total rises to 7.5 million units if the United States and Canada, where Ram is already present, are included.

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The role of Maserati

The third brand which, in our opinion, is still shining is Maserati. It is currently one of Stellantis' most troubled brands, but it has a number of strengths which, if properly exploited, could end up giving it some satisfaction. Firstly, it is still considered to be a luxury brand, which is very important because it is not exposed to Chinese competition in the same way as mainstream and high-end brands (luxury is still a European affair).

Secondly, it is a global brand in the sense that it is known everywhere, even if it is not available in all markets. Although it lags behind Porsche in terms of sales and product range, it remains a popular brand with a strong association with Italian craftsmanship and design.

These values are crucial in the higher segments where competition is fierce, but there is room for a bigger Italian luxury car maker, given that Ferrari and Lamborghini are concentrating on sports cars and supercars.

Global sales of luxury cars (in blue: top trim of premium brands; in orange: luxury brands)

The author of the article, Felipe Munoz, is a specialist in the automotive industry at JATO Dynamics.