Stellantis, the parent company of Chrysler, has decided to distribute $15,000 profit-sharing checks to approximately 45,000 UAW members after successfully negotiating a labor agreement with the United Auto Workers union. This decision comes despite the automaker reporting a significant earnings drop of 70%, announcing its full-year 2024 results with a reported net income of $5.5 billion. CEO Carlos Tavares expressed optimism saying, “We are taking decisive actions this year to remove constraints in our supply chain and increase production to meet the growing demand for our electrified vehicle lineup.” In light of global market pressures and rising costs, Stellantis is focusing on strategies to return to growth in 2025. During this transition, the company is also investing heavily in electrification and restructuring, as it seeks to adapt to changing consumer preferences and regulatory demands in the automotive industry. Despite the challenging economic landscape, Tavares remains confident stating, “We are optimistic about our future. The market is ready for our electric vehicles, and we will be ready to meet that demand.”
Stellantis Announces Profit-Sharing Checks Amid Significant Earnings Decline
