Stellantis Q2 2024 Sales Numbers: Jeep Gladiator

[my dog Trigger]

For any industry to ever plan and count on always increasing sales is pretty dumb. It's not like an endless supply of people with endless cash can keep buying a new truck year after year. A better model would be more emphasis being placed on the brand as a whole for repeat customers - which would include increasing their quality and professionalism of sales staff and technicians providing service support. I have no doubt some of this is due to an increasingly poor record of service and 'taking care' of their customers. Instead they should try to make 'family' customers, kinda like how the big 3 did back in the 70's-90's.

I hear a similar story at work. AAALLLLLLLL day long, every day. do more for less. We all have the same requirement. And when that mentality is pushed too long too hard, thats when things start to fall apart. Worker performance suffers, because why should they care? Retention goes to zero. And sometimes workers actively suggest customers turn to a competitor.

But I digress. No matter how many times this has to be preached, no matter how many failures have to exist, upper management will never understand - they're too focused on $$$ and the addiction to 'more'

You are right on

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[Hugh Jorgan]

Lol, I thought it was a ridiculous enough statement that you guys could pick up the sarcasm. We do live in ridiculous times though.

I could sense the sarcasm.

I still think it’s a good idea of we’re talking about a 1.5L turbo motor generator for an extended range ev hybrid.

Mineral rail companies here run loco’s on electric in this way.

 

[johnchabin]

Wouldn't guess those sales numbers down here in the RGV (Rio Grande Valley). They are literally everywhere. I see an average of 4 for every mile driven. They're mostly Texas Trail editions, but not many '24's seen.

Same here in the SLV (San Luis Valley). Must be a valley thing.

Or maybe a Texas thing… 75% transplants here.

 

[Flanders]

Guy with a JK, SeaDoo, KTM, new $50k+ JT, and who is shopping for a new vehicle for his wife, potentially a $50-60k+ Grand Cherokee, just can't catch a break due to the "lousy economy".

Not to mention, you know, choosing to remain ignorant of the actual data.

They won't address the data because it undermines their narrative. Instead they'll try to bury it in bullshit.

 

[Breadman]

Mark Twain once wrote, "There are three kinds of lies: lies, damned lies, and statistics”.

A clever quote doesn't mean your feelings override the facts.

As for my personal situation , you have no idea of my personal situation. You don’t know if I’ve inherited cash recently or am a saver or have decided to spend all my savings recently due to a looming health crisis. I will say this, the company that I put in over 27 years at recently shut and laid all of us off, the best position I could find is paying a lot less, not to mention the loss of certain benefits. I am not buying the “economy is great” cheerleading.

I also don't know why that company closed, which obviously sucks for everyone BTW (been there). Was it poor management, embezzlement, dying industry?

What I do know is that one person's experience, or one company closing, is but a single data point in a country with a $28 trillion GDP.

Companies succeed and fail in all economies, which is why we don't take one guy's word for it. I mean, the NVIDIA CEO's personal net worth is up something like $70 billion this year. What does your formula spit out in that case?

Why does your personal situation define how strong the overall economy is and his does not?

The economy has to a certain extent recovered much of the losses in the markets from the onset of the pandemic

Certain extent? Have you actually looked at where the markets are now relative to early 2020?

My own income hasn't increased at all, if anything its gone down, but my cost of living went up substantially. My property taxes and insurance went up about 22% and my auto insurance 15% with no accidents or tickets in well over 2 decades.

Another data point. How you extrapolate this to the entire economy is unclear. Why hasn't your income increased? Any reasonably experienced person should be looking at a 15-20% increase with a new job.

 

[SSingh1975]

ONLY reason why I bought my Gladiator is the diesel offering. Already test drove new gen Tacoma, GMC Canyon AT4 and new Ranger. They all have shyte gas milege and still smaller rear seats.

I test drove the diesel Glady, then went back and bought it since dealer had the $49k discounted price earlier this year. But I used my credit union for financing. I have Tier 1 credit and Stellantis were offering 6.5% APR (where as both Ford and Toyota were offering around 3-5% for Tier 1).

Nothing beats 25mpg on a tank of diesel.

 

[BourbonRunner]

Certain extent? Have you actually looked at where the markets are now relative to early 2020?

TLDR:

Any growth in the economy overall is countered by and effectively eliminated by high inflation.

You may be making more money on paper but the money is worth less than it was a couple years ago. This link shows the effective rates of inflation vs wage growth. https://www.statista.com/statistics/1351276/wage-growth-vs-inflation-us/

In very real terms, if you made $100K each year from 2020-2023 in 2020's dollars:

2021: $95,500
2022: $88,400
2023: $84,900

You "earned" $300K in three years but due to inflation it was $268,800.

Are the majority of American wage earners seeing an increase in their paychecks to compensate for the rampant inflation that is effectively reducing their take home pay? Not on a bet.

Another data point. How you extrapolate this to the entire economy is unclear. Why hasn't your income increased? Any reasonably experienced person should be looking at a 15-20% increase with a new job.

I'm not sure how/why you're assuming an 15-20% increase in pay is automatic let alone expected for anyone switching jobs. If only that was the case. This assumes nobody ever takes a lateral position for similar pay or **gasp** a pay cut for different employment terms.

With regards to overall GDP:

Starting from 2020, the pandemic signaled the first contraction in US GDP since 2009. GDP growth year over year:

2020: -2.77%
2021: 5.95%
2022: 1.94%
2023: 2.5%

The pandemic contraction was mostly eliminated by the overall GDP growth in 2021 but it wasn't a true increase- just a fairly quick return to somewhat normal patterns in the markets. However, once the inflation is taken into account, it is an even bigger contraction in the market.

The official rate of inflation from 2020 forward:

2020: 1.4%
2021: 7%***
2022: 6.4%
2023: 3.3%

***The economy might have grown by 5.95% in 2021 but the inflation outpaced growth dramatically. The economy was actually reduced in size by the delta between the growth and inflation.

US GDP growth vs inflation (inflation less the GDP growth)

2021: -1.05%
2022: -4.46%
2023: -.08%

In real numbers, adjusted for inflation in 2020 dollars, yearly total vs adjustment

2021: $23.315T --> $22.268T
2022: 24.439T --> $21.612T
2023: $27.36T --> $23.239T

The bottom line: The economy has not grown anywhere near what the current admin says, if anything it is in worse shape.

 

[BlackRuby23]

Sales are bad enough that Stellantis is shutting down the line for 6 weeks. They really need to get a new power train in this thing and up the value quotient .

The power train is fine. It's the ridiculous MSRPs that have crushed sales. Pure GREED. Now the chickens are coming home to roost. If their plan to address their pricing/oversupply problem and subsequent demand destruction is to shut down production, that is absolutely laughable. The kind of company who wants to narrow and limit their customer base won't be long for the world. My opinion is they need to completely clean house on their c-suite guys. They have failed and lost touch with reality.

 

[Breadman]

In very real terms, if you made $100K each year from 2020-2023 in 2020's dollars:

2021: $95,500
2022: $88,400
2023: $84,900

Yes, that's literally how inflation works. It's not inherently a bad thing, rather it's natural and normal for a functioning economy. And $100 50 years ago was worth a lot more than it is now. We've all heard it from our grandparents...

Are the majority of American wage earners seeing an increase in their paychecks to compensate for the rampant inflation that is effectively reducing their take home pay? Not on a bet.

There was a time during COVID that wages were growing at a slower rate than inflation. That is no longer the case, no matter what your feelings are. Wage growth has exceeded the rate of inflation for more than a year.

I'm not sure how/why you're assuming an 15-20% increase in pay is automatic let alone expected for anyone switching jobs. If only that was the case. This assumes nobody ever takes a lateral position for similar pay or **gasp** a pay cut for different employment terms.

It doesn't assume anything. You complain about the economy becuase your costs are going up your and wages are remaining the same. The most reliable way to make more is to change jobs. If you have made the decision to not seek additional income for whatever reason, that is your personal choice and does not reflect on the strength of the economy.

***The economy might have grown by 5.95% in 2021 but the inflation outpaced growth dramatically. The economy was actually reduced in size by the delta between the growth and inflation.

US GDP growth vs inflation (inflation less the GDP growth)

2021: -1.05%
2022: -4.46%
2023: -.08%

In real numbers, adjusted for inflation in 2020 dollars, yearly total vs adjustment

2021: $23.315T --> $22.268T
2022: 24.439T --> $21.612T
2023: $27.36T --> $23.239T

The bottom line: The economy has not grown anywhere near what the current admin says, if anything it is in worse shape.

That's a lot of words and math to show something that you claim is equivalent to what's known as "Real GDP", which is GDP adjusted for inflation. Fortunately it's tracked quarterly and calculated on an annualized basis (rather than an arbitrary vs. 2020 basis) so we don't have to reverse engineer numbers on the internet to fit our narrative. Real GDP has only been negative for 2 out of the last 15 quarters. Your numbers don't add up.

 

[Flanders]

The only people bringing up the economy are the guys ranting like a drunken uncle at Thanksgiving dinner. And they do get testy when challenged.

New vehicle unit sales are up for the 7th quarter in a row.
Source: https://fred.stlouisfed.org/series/TOTALSA

Real inflation-adjusted GDP has increased 3 years in a row and is up 10.6% over 2020.
Source: https://fred.stlouisfed.org/series/GDPCA

 

[FloridaAussie]

Renegade was discontinued in the US after the 2023 model year.

Thank God for that. I hated seeing those Jeep badged Fiat 500s on the road. Now the numbers will dwindle over time.

 

[FloridaAussie]

Well on a happy note boys, girls, and them/they’s Renegades are in the potty. My eyes water every time I see one.

Tears of joy? They're like a Fiat 500 and a shoe box had a baby that identifies and dress as a Jeep.

 

[BourbonRunner]

Yes, that's literally how inflation works. It's not inherently a bad thing, rather it's natural and normal for a functioning economy. And $100 50 years ago was worth a lot more than it is now. We've all heard it from our grandparents...

"Proper" inflation as defined by the Fed is 2% per annum. That's their stated goal. Anything beyond that is when the Fed kicks hornets nests to prevent runaway inflation.

In Jan 2021 it was annualized to 1.4%. By the same time the following year it was topping 7%. And that's only the official government level. The real rate of inflation in the marketplace is substantially higher, closer to 20% if not more.

But by all means, tell that to the people spending more on rent, groceries, or gas without getting an increase in pay that this is natural and normal that their dollar doesn't go any further because the people in DC made a bad monetary policy decision.

And just so we're on the same page, sure, that $100 in 1974 would be worth $637 today but its buying power is only $15.70.

There was a time during COVID that wages were growing at a slower rate than inflation. That is no longer the case, no matter what your feelings are. Wage growth has exceeded the rate of inflation for more than a year.

Wage growth slower than inflation is a bad thing. There's no sugar coating it. We started from a nearly 3% downturn in 2020 due to governmental shutdown policies at the onset of the pandemic and then erased that the following year AND grew ahead of inflation rates. That trend was reversed entirely by the end of 2021.

It doesn't assume anything. You complain about the economy becuase your costs are going up your and wages are remaining the same. The most reliable way to make more is to change jobs. If you have made the decision to not seek additional income for whatever reason, that is your personal choice and does not reflect on the strength of the economy.

Not quite. My COGS have not changed that much, and though I'm tracking to earn less this year for a number of reasons, what I do earn will be worth substantially less than it was just a few years ago. I complain about the economy because the people creating policy have zero connection to those of us that actually work for a living... and it shows.

Thats a lot of words and math to show something that you claim is equivalent to what's known as "Real GDP", which is GDP adjusted for inflation. Fortunately it's tracked quarterly and calculated on an annualized basis so we don't have to reverse engineer numbers on the internet to fit our narrative. Real GDP has only been negative for 2 out of the last 15 quarters. Your numbers don't add up.

Nice attempt to deflect. Yes- Negative growth over a few consecutive quarters is considered a recession. At no time did I mention anything about a recession. I have been discussing REAL growth and inflation numbers and how they counteract each other. Do pay attention.

Furthermore: "GDP adjusted for inflation" is doublespeak that conceals the actual growth (or lack thereof) in the economy to twist it to political advantage.

What I said was this supposed growth in the economy isn't real because the rate of inflation far outstripped the growth, and the real numbers are far worse than anyone is willing to admit currently in office.

 

[ZeeJay]

Tears of joy? They're like a Fiat 500 and a shoe box had a baby that identifies and dress as a Jeep.

Not tears of joy…..more like visual pepper spray. Although still not as bad as stacks in the bed of coal roller, that my all time #1 twitch maker

 

[Breadman]

real rate of inflation in the marketplace is substantially higher, closer to 20% if not more.

No the real rate is 0% if not less. Wow that was easy.

Wage growth slower than inflation is a bad thing. There's no sugar coating it. We started from a nearly 3% downturn in 2020 due to governmental shutdown policies at the onset of the pandemic and then erased that the following year AND grew ahead of inflation rates. That trend was reversed entirely by the end of 2021.

Your assertion is that wages are increasing slower than the rate of inflation. Simply not true. There was a period when that was the case. No longer. You are making things up again to fit your slant.

Not quite. My COGS have not changed that much,

So much for that 20% "real" inflation rate. Nice self own.

and though I'm tracking to earn less this year for a number of reasons, what I do earn will be worth substantially less than it was just a few years ago. I complain about the economy because the people creating policy have zero connection to those of us that actually work for a living... and it shows.

So raise prices like other successful businesses. If you choose to keep prices the same or you don't have a competitive advantage or pricing power to raise them, that's on you, not the economy. Welcome to the free market.

Nice attempt to deflect. Yes- Negative growth over a few consecutive quarters is considered a recession. At no time did I mention anything about a recession. I have been discussing REAL growth and inflation numbers and how they counteract each other. Do pay attention.

Furthermore: "GDP adjusted for inflation" is doublespeak that conceals the actual growth (or lack thereof) in the economy to twist it to political advantage.

What I said was this supposed growth in the economy isn't real because the rate of inflation far outstripped the growth, and

Deflect from what? You say growth adjusted for inflation is the number, then ignore the number that shows growth adjusted for inflation. Real GDP is literally the growth you speak of and also accounts for the inflation you speak of.

So weird.

But seriously, if you simply don't care what any of the numbers are because of what you read on facebook or because daddy told you some people are bad or because of what your favorite celebrities are saying, just say so. Sadly, you would not be alone.

the real numbers

I guess we found the crux of the issue when someone is at the point where they just make things up and call them "real" to fit their fee-fees.

BTW, where did you find the GDP and inflation numbers you used earlier? That's right, from the same sources you are now deriding. I suppose they're only valid after you apply some non-standard math to justify your biases.

Bottom line is that yes, inflation was running hot for a while. Growth kept up for the most part, wages fell behind for a bit. Now both growth and wages are increasing faster than inflation. Your feelings or numbers that some guy makes up and claims to be "real" are irrelevant.

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