This might not bode well for North America

[Wild one]

Italy Cracks Down On Stellantis, Invest More In Italy Or Else ð±

In today's video I talk about Italy's Prime minister Meloni cracking down on Stellantis for not making for of the Italian brands in Italy and issuing warning...

www.youtube.com

 

[Docwagon1776]

I doubt it affects NA much, probably more of a Euro issue first and then maybe some South America and Asia ripples. The traditionally Italian brands under their umbrella that the PM is concerned about aren't manufactured here, and they don't sell well here. We don't care if a Fiat or Alfa Romeo is made in Italy or Brazil or Poland or China, we're not buying them regardless. The traditionally American brands aren't going to stop being made over here in favor of Italy, nobody is calling for it and the economics don't make sense.

I do enjoy the slap fight over stickers and model names being "Too Italian to be made outside of Italy" brand of nationalism, though. Can't call it a "Milano" since it's not built in Milan and consumers may be tricked by that... If I ever go back, I'll complain it's false advertising if my americano coffee wasn't made in the Americas. I figure that'll go over pretty well.

 

[Scottly]

Well, they can take all the union crybabies threatening to strike right now and move them to Italy and build plants there. We'd all benefit from that.

 

[Docwagon1776]

Well, they can take all the union crybabies threatening to strike right now and move them to Italy and build plants there. We'd all benefit from that.

Italian plants are unionized as well and facing some 10-20k job losses as Stellantis offshores, which is why the PM has been up their ass. Especially since Stellantis is crying for more incentives from the Italian gov't.

I'd think it's better for all of us if we have a strong blue collar middle class. I'll side with the "crybabies" in the US and Italy actually making the cars and keeping a manufacturing base, the underpinning of both a strong economy and national security, alive than make yet *another* record year for c-suite competition, but each to their own.

 

[oledirteh]

well in the news today the ceo is coming to the US to whine about auto sales.

Stellantis CEO Tavares visits U.S. to create plan to reverse lagging profit, report says

Tavares' visit to Detroit during his summer break will seek to reassure employees and investors that he intends to fix the automaker's struggling North American operations.

europe.autonews.com

 

[Docwagon1776]

well in the news today the ceo is coming to the US to whine about auto sales.

Stellantis CEO Tavares visits U.S. to create plan to reverse lagging profit, report says

Tavares' visit to Detroit during his summer break will seek to reassure employees and investors that he intends to fix the automaker's struggling North American operations.

europe.autonews.com

Well, at least he's making over 500x the average wage of his workers, got a 56% pay raise from 2022 to 2023 so that he's roughly double the salary of GM and Ford's CEOs, so he must be good and not driving the company into the ground. Right? RIGHT?