The truck brand is forging into electrification in 2023 with the battery electric Ram ProMaster van and will jump into the EV pickup race next year with the Ram 1500 REV, which was revealed at CES and promoted in a cheeky Super Bowl ad. "We now have the technology, the products, the raw materials, and the full battery ecosystem to lead that same transformative journey in North America, starting with our first fully electric Ram vehicles from 2023 and Jeep from 2024," he said in a statement Wednesday. 1 in commercial electric vehicles in Europe and No. But he assured investors that the company is ready to bring to North America the strategy that made it No. The region's strong results come in advance of a pivot toward electrification that CEO Carlos Tavares has warned may be painful. “The pricing power of our models is matching the feel of what we create, and our creative team from design and engineering are doing a stellar job of making sure that the customers are willing to pay for the value that we create.” “We are keeping a very high average transaction price, the highest among the Big Three,” Tavares said during an earnings call Wednesday. Overall, Stellantis said its average transaction price in the U.S. as 9.4 percent better than its benchmark. Stellantis touted Jeep's pricing power in the U.S. Stellantis said Ram has a 3.4 percent pricing power advantage against the benchmark. Ram recorded its highest average transaction prices for the 1500 pickup at $57,000 and what it calls its heavy-duty trucks at $71,000. Pricing power and higher-end content was the key. dropped by 12 percent and Ram sales by 16 percent. All this in a year in which Jeep sales in the U.S. While the company reported that second-half shipments in the region fell 4.8 percent to 902,000, net revenues rose 15 percent to $45.8 billion. sales fall by double digits.Īdjusted operating income from North America surged 23 percent to $14.8 billion for the second year since the merger of Fiat Chrysler Automobiles and PSA Group. Sometimes less is more: Stellantis saw North American operations power profit gains for 2022, a year in which top brands Jeep and Ram saw their U.S.
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