Stellantis: declining sales, workers on redundancy pay and Tavares gives himself a golden salary

The slowdown in electric cars continues in the EU and especially in Italy. The latest data, relating to the month of March published by Acea, certify the failure of European green policies, with registrations of battery electric cars falling by 11.3% compared to last year. The market share therefore drops from 13.9% in March 2023 to 13% this year. Two of the main EU car fleets, Germany and Italy, recorded heavy contractions of 28.9% and 34.4% respectively, underlining that electric cars are not liked by consumers. Registrations of plug-in hybrids were also bad, decreasing by 6.5% last month in the EU, with Germany and Italy recording drops of 4.5% and 22% respectively. The hybrid electric market, on the other hand, is better, rising by 8% in Italy and by 12.6% in the European Union.

Petrol remains the first choice. In fact, petrol cars in our country recorded an acceleration of 5.7%. Broadening our gaze to the automotive world as a whole we can observe how at EU level petrol and diesel fuel continues to occupy the largest share of the automotive market with 35.4%, followed by hybrid cars at 29%, electric batteries 13%, diesel 12.4% and the plug-in hybrid electric at 7%. Another extremely relevant fact should be added. Stellantis Group reported an 8.7% decline in car registrations in Europe in March year-on-year to 228,740 units, with its market share falling to 16.5% from 17.6%.

Trends that highlight two aspects. The first is the EU's green madness on electric power alone. The Union's policy according to which only an electric car does not pollute is proving to be wrong and short-sighted. It is not possible to think of an electric-only market. The concept of energy and technological neutrality is the key to achieving climate objectives also by including various alternatives such as internal combustion engines, powered by biofuels or hydrogen. Predicting a ban on the sale of combustion cars by 2035 with the only alternative being the electric car is a utopian and also unfair plan, because not all European citizens have the luxury of being able to buy an electric vehicle. Environmental objectives can also be achieved with greater rationality, leaving ideology behind. The thought that, if in any EU country it were possible to design a non-electric engine that allows environmental objectives to be achieved ahead of time, it cannot be developed, because only an electric engine can, is pure madness. . Finally, it should be remembered that consumer choices drive the market. And two of the most important car fleets in the EU (Germany and Italy) are rejecting a fully electric car.

Another aspect, the Stellatis issue. A company that has less and less Italian and is doing everything to try to move further and further away from its origins, also given the latest decisions to employ more than 2,000 workers at the Mirafiori plant, employed on the electric Fiat 500 and Maserati cars , on redundancy pay starting from Monday 22 April until 6 May. An aspect that leaves you astounded if you consider that the CEO of the group, Carlos Tavares, received a salary of 36.5 million euros a year in 2023, an increase of 56% compared to 2022, and at the same time he blackmailed, at the beginning 2024, the Italian government to receive more incentives to produce electric cars, because “without aid two factories are at risk”. And thank goodness the president, John Elkann, described 2024 as “fantastic”. It remains unclear who he was referring to. For managers certainly, for Italy, Italian factories and workers not so much. ALL ECONOMY NEWS