Almost a year ago, the headline read: " Thunderclap at Stellantis: Carlos Tavares has resigned ". A year later, the former head of the Franco-Italian-American automotive group has broken his silence. In a lengthy interview with Le Point to mark the publication of his book Un pilote dans la tempête, Carlos Tavares reveals the truth about his sudden departure, his disagreements with John Elkann, and his gloomy vision of Europe's industrial future.
"I didn't like the nauseating communication claiming that I'd been sacked".
The former executive, now 67, received journalist Olivier Ubertalli in his home town of Tomar, Portugal. Always hyperactive, he now divides his time between restoring classic cars, managing hotels and preparing racing cars.
But in his speech, the bitterness remains.
"One evening in December, while I was on the Estoril circuit, John Elkann called me and mentioned a loss of confidence in me. Trust is a two-way street. I was there to execute a validated plan, and I was told: no, you have to stall and go back to the pits."
Carlos Tavares insists he has left Stellantis out of conviction, not compulsion. He rejects the version of a disguised dismissal:
"I didn't like the nauseating communication that claimed I'd been kicked out."
In his view, the real disagreement was over electrical strategy. While some board members wanted to slow down, he wanted to speed up the transition so as not to "miss the turn of the century".
An "extremely violent" industry
The former boss of PSA and Stellantis, known for his outspokenness and rigorous management style, makes no secret of his pessimistic view of the automotive sector.
"The automotive industry is extremely violent. It is losing control of its destiny due to external factors such as tariffs, regulations, geopolitical issues..."
For Tavares, today's managers are caught in a vice between regulators, investors and public opinion. And he believes that many talented people will leave the industry in the next few years, fed up with an environment that has become "toxic" and "ungrateful". He even predicts a "brutal and ferocious consolidation" of the European automotive sector, transforming the car into a mere consumer object, "like a refrigerator".
"Being a boss is an extremely risky job".
Criticized for having left Stellantis with a sum estimated at 35 million euros, Carlos Tavares fully assumes his remuneration, which he justifies by the level of risk of the position.
"Being a boss is an extremely risky job. Why do we accept that a soccer player earns 100 million a year, but not that a boss earns 20 million?"
The ex-executive recalls that he was a stockbroker for the French state, and sees PSA's turnaround as repayment of this debt to France. But today, he doubts the country's ability to reform.
"Can France pull through? I have real doubts. Can it reform without violence? I'm not sure."
"By no longer accepting success, we lead to failure".
In his book, Tavares denounces a society that, in his view, rejects merit and hard work.
"Poor company that no longer accepts that an executive should have 90 % of his salary indexed to results. By no longer accepting success, we lead to failure."
This was a direct dig at Emmanuel Macron, who had publicly criticized the amount of his remuneration when he left Stellantis.
On the question of electric cars, he is just as trenchant: in his view, the European Union "made a major mistake" by trying to impose the 100 % electric car too quickly, thus opening up a boulevard for Chinese manufacturers.
A lucid, sometimes bitter view
One year on from his departure, Carlos Tavares doesn't seem to have turned the page on the automotive industry, but rather to have drawn lessons from it. In his words, his passion for the car remains, as does his anger at an industry he deems to have been "handed over to politics and bureaucracy". And if his book is entitled "A Pilot in the Storm", it's perhaps because, even without a steering wheel, Tavares continues to observe the road with a racer's eye.
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As always, everyone has their own ideas. CT is an enthusiast, but he seems to forget that in reality, the 80% of the automotive sector is just a business like household appliances! Just look at why DeMeo left Renault... he's going into the luxury sector where it's still not just business.
The problem with Tavares' management can be seen concretely in the production of the C3 and Grande Panda: these models are riddled with bugs, and some of them will have to be redeveloped to achieve decent sales. Cost killing is often very expensive...
The car is a consumer object like any other, that's true enough. Most drivers are happy to drive around in a moving car, while those with a real interest in cars are in the minority. Many buy an XXL multimedia screen with as many driving aids as possible, without any concern for driving pleasure.
The forced march towards electric vehicles has benefited cheaper Chinese cars, but Europe is now taking a step backwards, at least in terms of dates.
Tavares leaves a catastrophic balance sheet for most of Stellantis' brands, he should be ashamed.
I've read the whole thing and... I still hate it.
On another planet, the man embodies everything he denounces...
A bit like you, then. Blah, blah, blah to say nothing but untruths 😉
@Hans please be more respectful otherwise I won't validate future comments.
On the other hand, those who choose an Alfa Romeo do so for specific reasons: exceptional roadholding, rear-wheel drive by default, and traditional styling and lines, often signed by prestigious coachbuilders. And the nameplate on the side. This implies specific platforms and furnishings, investment in technical solutions specific to the brand, and participation in competitions. At Alfa, this has historically been Formula 1 and the DTM. All of which are being methodically destroyed by management.
Default propulsion. Too funny that one. The thousands of fans of the alfasud salute you. Without it, there wouldn't have been an Alfa for a long time, given the rear-wheel drive crap of the 70s...
When it comes to style ... tastes and colors . The current Giulia is appreciated in Asia by some enthusiasts because it represents the Must in the Hyundai style of the 2000s 🤣. To each his own 👍🏾
Incapable of recognizing the errors of excessive, purely financial, short-term management, neglecting product quality, the only guarantee of a company's longevity!
Unable to combat the unrealistic and, above all, excessive focus on electric vehicles, a suicidal electoral ideology that gives the keys to this industry to the Chinese!
And now the Italians have taken the reins! The predictable changeover!
What do PSA's directors think?...
A PEUGEOT retiree... 35 years at home!...
I'll play devil's advocate, but he's not responsible for all Stellantis' problems. PSA was all about profitability, FCA was all about paying dividends. At the expense of profits and reinvestment. The exact opposite of what PSA was doing. It's partly for this reason that FCA was on the brink of a precipice (yet to come).
And it's this policy that has become the norm, thanks to Exor's majority shareholding. CT is just a fuse. His approach was a failure, but Filosa will have the same mission to accomplish. But in a different way. Above him, there's always Elkann.