Legendary brands can survive in the new era

You might be unaware of this, but it’s an exciting time for the car industry as the two brands are planning to change things. The French car industry has seen many management changes recently, and it almost seems like a usual activity.

After the incident of Carlos Ghosn, the former CEO of Renault who’s now a fugitive, Luca de Meo took the charge. Where Stellantis, a new firm registered recently, is being headed by Carlos Tavares. Both of them have a successful background, but in their new positions, they face great challenges. Their task is to make sure the legendary brands can survive in the new era.

The PSA Group and Fiat Chrysler Automobiles have been merged recently and now they form the fourth-largest carmaker in the world. The global sales of the Stellantis, was 7.9 billion in 2019, only behind three brands. So sales are not an issue, the only thing where it lags is brands. The firm now has brands from every major market segment including electric cars and hatchbacks. Even the Volkswagen Group cannot compete with the new firm in this regard but where it presents opportunities there are many challenges as well.

It will have a sea of opportunities because, through these brands which are extremely popular in the whole world, it can reach all the regions. The new CEO said the same thing and he acknowledges that there are many opportunities presented after this merger. He said they have iconic brands and they have a diversity of models. It will allow them to make a stronger mark in the significant markets and increase their profits.

One of the challenges that the new firm might have to face is to ensure that the brands don’t overthrow each other. The CEO has to make sure that the company takes all the brands parallel and each brand is provided with equal opportunities as well as the same resources. Handling so many renowned firms won’t be easy, but we hope the new CEO would not only change the firm’s future but the industry’s as well.