It's time to put the hard top back on your jeep wrangler and also time for jeep maker, Stellantis CEO Carlos Tavares to step down.
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00:00It's time to put the hard top back on your Jeep Wrangler, and also time for Jeep maker Stellantis CEO Carlos Tavares to step down.
00:09Citing different views between he and the board, Tavares resigning Sunday following a very difficult year for the company.
00:17They recently reported a 27% drop in third quarter revenue and a 20% drop in sales.
00:24Through the first half of the year, Jeep sales are at their lowest in six years.
00:29The decline largely blamed on Tavares, who increased the price of Jeep some 50% since COVID.
00:36The stock falling 6% on the news of his resignation, down 46% year to date.