Stellantis may consider rationalizing, or even eliminating, brands that are too similar or marginal.

When creating StellantisCarlos Tavares had laid down a clear principle: all the Group's brands would be given a chance. Time would do its work, and an assessment would be made later. In particular, this promise enabled the relaunch of brands that had fallen by the wayside during the FCA era, such as Lancia, which is gradually returning to the forefront after years of near-disappearance.

But four years later, the context has profoundly changed. The Stellantis' financial results for 2024 were disappointingThis was particularly true in North America, a key market for the Group's profitability. Above all, the strategy has changed hands. Since June 2025, Antonio Filosa has been at the helm, and his roadmap contrasts sharply with that of his predecessor.

Volumes before margins

Antonio Filosa inherits a group weakened by a policy of high prices, drastic cost-cutting and range reductions, which ended up diverting some customers to the competition. The figures are brutal: in 2024, Stellantis sales fell by 15 % in the United States, while the market was still growing. This counter-performance left dealers with high inventories and pushed the Group's market share below 8 %, an all-time low.

Faced with this situation, Filosa has launched what he calls internally an "emergency room" operation designed to get the group back on its feet quickly. His priority is clear: sell more, even if it means sacrificing margins in the short term. A return to fleet sales, the relaunch of popular models, the abandonment of unrealistic electric targets and a refocusing on more affordable vehicles are all part of the plan. The first signs are encouraging: in the third quarter, North American sales rose by 6 %, a first after eight consecutive quarters of decline. But this strategy raises a sensitive question: can Stellantis continue to support 14 brands in such a competitive environment?

A brand portfolio that has become too broad in Europe

It's in Europe that the equation is most complex. The merger between PSA and FCA has created numerous overlaps: Peugeot, Opel, Citroën and Fiat sometimes compete in the same segments, while more premium brands such as DS and Lancia struggle to find their place and generate significant volumes. According to several sources quoted by Reuters, Antonio Filosa is now examining the long-term viability of the entire portfolio. The possibility of streamlining, or even eliminating brands deemed too similar or marginal, is no longer taboo. A notable change, since Carlos Tavares, despite his Darwinian rhetoric on the natural selection of brands, had never made up his mind. If decisions were to be taken in Europe, three names keep cropping up: Abarth, DS and Lancia: Abarth, DS and Lancia.

Abarth: integration as the last way out?

For Abarth, the solution could be relatively simple on paper. As in North America or Latin America, the brand could be integrated into Fiat to gain visibility and reduce communication costs. This option would preserve the badge while limiting structural expenditure. But the problem goes deeper than that. The shift to electric vehicles has failed to win over the brand's long-standing customer base, and Abarth is struggling to keep up with the pace of change. a credible vision of low-emission sportiness. With no really attractive combustion or hybrid alternative, the brand's future looks particularly bleak.

DS, a politically sensitive case

The DS situation is far more complex. The brand enjoys the strong support of Xavier Peugeot, who is very attached to its existence, and who is currently leading a veritable "DS campaign". war of influence within Peugeot InvestStellantis shareholder, to have a greater say in the Group's strategic direction. On the industrial front, DS also has arguments in its favor. The new DS N°8 has just been launched and is produced in Italy. Although volumes will remain modest, this ensures additional business for the factories. A future DS N°7 is also at an advanced stage of development, making any sudden decision difficult to justify in the short term.

Lancia, between commercial fragility and sporting ambitions

Lancia is perhaps the most paradoxical of all. Commercially, the brand today relies on a single Ypsilon, of which sales should not exceed 12,000 units by 2025. An extremely low figure on the scale of a group like Stellantis. And yet, Lancia is sending out an increasing number of signals of recovery. Official return to WRC2 with a factory team, the scheduled arrival of the Lancia Gamma in 2026, and the opening of new showrooms from next year: everything points to the fact that the brand is not destined to disappear in the short term. But these investments must quickly produce tangible results.

Possible... and potentially brutal decisions

For the time being, Antonio Filosa enjoys the support of his main shareholders - Exor, the Peugeot family and the French government - who are willing to accept a temporary drop in margins in order to boost volumes. The stated aim is to return to an operating margin of 6 to 8 % in the medium term, even if analysts remain cautious and do not anticipate a return above 5 % before 2027. But this patience will not be infinite. If the commercial recovery is not confirmed, the question of brands will become central. And if a decision to cut or merge has to be taken, it could be swift and ruthless.