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Stellantis released some important info this past Sunday morning, the current CEO, Carlos Tavares, has resigned effective immediately. The press release didn't offer up much info yet was focused on damage control in the eyes of it's investors on top of thanking Tavares for "his years of dedicated service". So of course, the internet has jumped into educated speculation.
The first fact and not speculation, Stellantis is down 9% overall since Tavares took over. Another fact, Tavares had previously announced that he would be leaving Stellantis once his contract was over, in 2026. Now the educated speculation: Car And Driver, amongst several other sources are pointing at a recent 17% drop in sales. They're also mentioning the "last-ditch effort" made where Tavares pushed to sell off some American sold brands such as Alpha Romero or Fiat. This suggestion amongst others, was apparently not received well by the board of trustees at Stellantis. The board seemed to agree that Tavares was focusing on his reputation by pushing for short term wins as opposed to long term success of the company.
What the future is for Stellantis of course remains to be seen, it just happened yesterday. We'll leave this one with a quote from Stellantis Chairman John Elkann: “Our thanks go to Carlos for his years of dedicated service and the role he has played in the creation of Stellantis, in addition to the previous turnarounds of PSA and Opel, setting us on the path to becoming a global leader in our industry. I look forward to working with our new Interim Executive Committee, supported by all our Stellantis colleagues, as we complete the process of appointing our new CEO. Together we will ensure the continued deployment of the Company’s strategy in the long-term interests of Stellantis and all of its stakeholders.”
An icon in drag racing is up for sale. Milan Dragway outside Detroit has just announced it's looking for a new owner. No amount has been mentioned, that we can find at least. The good news? The track will remain open until the new owner is found. 2025 will operate as closely to normal as possible with a complete schedule already in the works. Everything we've read about this is positive. The current owners, Pam and Perry Merlo and Co-Owner Harold Bullock really seem to be looking for a new owner in the interest of the sport, and the future of the track. Extremely refreshing to hear when these types of deals are generally wrapped in negativity. Milan Dragway opened it's doors in 1969 with several owners in it's tenure. Looking for a new investment? Go get yourself a piece of drag racing history!
SOURCE: https://www.dragzine.com/news/historic-milan-dragway-for-sale
Last week Jaguar/Land Rover announced a rebranding. With a post on X the auto manufacturer offered up a simple message: "Copy Nothing" and a short video showing models doing various random things. The new logo and company direction has perplexed many. The conversation on X then took off in many directions with Jaguar responding to a famously negative message with "This is a renaissance". From Jaguar: “The reimagined Jaguar begins its unveiling today with an all‑new brand identity that establishes its unique character, through a dramatic new visual language”.The new logo and ambiguous direction statements are to many, destroying the brand's historical presence. It's always been a brand that embodied the best of British class. What this means for the brand in the future remains to be seen. You can check out the ad for yourself via the link below.
SOURCE: https://www.jaguarusa.com/copy-nothing/index.html
Three states recently passed new initiatives which will add a significant tax to a gallon of fuel come January 1st. What it is exactly varies per state. Keep in mind that these numbers when applied to business logistics, amount to very large increases in operating costs.
In California, by far the state that will see the largest increase, State Senator Brian Jones said: “The average family with two drivers should be prepared to pay an additional $900 next year for gasoline”.For California this increase comes in multiple small waves stemming from tax increases and plant closures. All in, the state could see a $0.47 increase per gallon.
For Utah, the change is not as bad. Come January 1st the tax rate on fuel increases by only a couple percent.
Minnesota will see a large 12% increase with reasons for the increase tied to rising highway maintenance costs.
SOURCE: https://www.ttnews.com/articles/rising-fuel-taxes-2025
After only it's second season ended with dozens of rule infractions as well as the loss of two massive class sponsors, most assumed the class wouldn't return. However, the NHRA has thankfully released that the Factory X class will be back on the roster in 2025. The Factory X class bridges the gap between Factory Stock and Pro Stock. Cars are limited to (amongst other things) 2650 lbs minimum weight, and a manual transmission. Competition includes cars like the COPO Camaro, DragPak Challengers and Cobra Jet 327 Mustangs.
SOURCE: https://www.nhra.com/
The Performance Racing Industry (PRI) Show is the automotive racing industry's largest industry only convention and it takes place December 12th thru the 14th in Indianapolis. The show is the place to be for industry professionals to check out all the latest technology for racing and performance in general. SEMA is a big car show, and don't get us wrong, it's a great show, but PRI is where the racing technology is at. And of course, we'll be there. So keep an eye on our socials for updates from the show all week long!
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