Stellantis is the world's 4th largest automobile manufacturer, formed in January 2021 from the merger of PSA Peugeot Citroen of France and the Italian-American Fiat Chrysler. (The company's management explain that the name is derived from the Latin word that means "to brighten with stars", but critics say it sounds like a prescription pharmaceutical). The combined business begins life with a sprawling collection of 15 different car brands. Some consolidation seems inevitable, especially in Europe, where PSA's Peugeot, Citroen, Opel and Vauxhall already compete in similar sectors to FCA's Fiat and Alfa Romeo. The latter's Lancia, already much reduced in size, is unlikely to survive further consolidation. There is, perhaps, less competition in North America, where PSA currently has almost no presence, but where Chrysler has already been highlighted as one of the new group's weakest brands. Dodge and RAM remain key regional brands. The star brand within the portfolio is perhaps Jeep, arguably the group's only auto marque with a truly global presence, while Maserati is the group's only brand in the luxury segment. The merged group is led by PSA's Carlos Tavares as CEO; FCA's John Elkann is chairman with Robert Peugeot of PSA as vice chairman. Combined proforma volumes for pandemic-impacted 2020 were 6.81m vehicles. Peugeot was the group's top-selling brand at 1.45m vehicles, followed by Jeep at 1.24m, with Fiat close behind at 1.23m. Citroen weighed in at 782k units, while RAM trucks added 751k. Opel and Vauxhall combined contributed 624k cars. Chairman Elkann's family holding company Exor is the largest shareholder in Stellantis with 14.4% of equity. The Peugeot family and PSA's Chinese joint venture partner Dong Feng Motors each have 6%.
Capsule checked 18th January 2021
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Adbrands Update 27th Apr 2020: Auto giant Stellantis, formed from the merger of PSA and FCA, consolidated its global media business with Publicis Groupe following a review. It's a big victory for the French company, whose Starcom already managed FCA Group in North America. The outgoing PSA agency - WPP's Mediacom - will be licking its wounds over the loss of roughly $1.1bn of spend in Europe. Combined spend for the two groups is around $2.4bn annually.
Adbrands Daily Update 16th Jul 2020: PSA Groupe and Fiat Chrysler Automobiles have settled on a name for their soon-to-complete merger, expected in 1Q 2021. The name of the new corporate umbrella will be Stellantis. The new name, developed by Publicis Groupe, is derived from "the Latin verb 'stello' meaning 'to brighten with stars'," said both companies. "It draws inspiration from this new and ambitious alignment of storied automotive brands and strong company cultures that in coming together are creating one of the new leaders in the next era of mobility."
Adbrands Daily Update 31st Oct 2019: Spurned earlier this year by Renault (or at least by Renault's French government shareholders), Fiat Chrysler has turned instead to Renault's arch-rival rival PSA. Just a day after news they were in talks first broke in the Wall Street Journal, terms for a full merger of equals were agreed by both companies' boards. PSA's Carlos Tavares will become CEO of the combined entity, with FCA's John Elkann as chairman. The all-share deal is being structured as a merger of equals, with each group's current shareholders ending up with 50% of the resulting business. Exor, the investment company for Fiat's Agnelli family, of which Elkann is chairman, will be the biggest shareholder in the group with 14.5%. The Peugeot family and its Chinese partners Dong Feng Motors will each have 6%. Assuming all goes according to plan, the merger would create a group with sales of around 8.7m vehicles annually, displacing General Motors as the global #4 manufacturer.
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