Stellantis Plans Nine New Models Under $40,000 by 2030

Stellantis announced Thursday that it will launch nine new models priced under $40,000 by 2030. U.S. brands. The company currently sells only two vehicles under the $40,000 threshold. Last year it recorded a $26 billion net loss after reversing earlier electric-vehicle plans.

Chrysler will add three new crossover utility vehicles, two of which will start below $30,000. Ram will introduce a full-size SUV called the Ramcharger, a midsize Dakota pickup, and a compact truck based on the Rampage model sold in South America. Jeep will receive a high-performance off-road version of the Wrangler called the Scrambler.

Dodge will add a sports car named the Copperhead and a muscle-hatch vehicle.

U.S. vehicle reached $50,000, according to Kelley Blue Book. Consumer sentiment fell to a record low in May amid higher gasoline prices and inflation concerns, the University of Michigan reported. Tim Kuniskis, head of Stellantis North America, said the new models target the $25,000 to $35,000 segment where none of the company’s American brands currently compete.

Ralph Gilles, who leads global design, said the company is preparing for a different type of buyer than previous generations. S. 5 billion by 2028.