Stellantis is staging a dramatic comeback after a brutal three-year slump—its stock down 70%, market cap now smaller than Rivian’s. But signs of life are emerging: global shipments up 10% YoY, with North America driving 38% growth thanks to refreshed Ram 1500s and Jeep SUVs. The company’s $70B global turnaround plan is heavily focused on North America, with 60% of investment going there over five years—and launching new, affordable models to boost margins. Early sales data is promising, and if Jeep and Ram continue to gain traction, Stellantis could reverse its fortunes and outperform Wall Street’s skepticism.
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