Stellantis, slow farewell to Italy: one million cars is a mirage

"One million vehicles produced in Italy by 2030. The source and date of the statement? Carlos Tavares, CEO of Stellantis, last January at the presentation of the 2023 accounts. Despite the Portuguese manager's optimism, the reality is decidedly different and the future is anything but rosy. Because last year Stellantis' production in Italy stopped at 521,842 cars (out of a total volume of 752,122 vehicles adding the commercial ones) out of a total of 541,000 cars produced domestically. Things are no better in 2024, according to preliminary Anfia data, with domestic car production down 31.3% in March and 21.1% in the quarter.

Translated? Without Stellantis we can say goodbye to high-volume production, leaving one of the most important manufacturing industries in the hands of niche companies such as Ferrari and Lamborghini or rebranding as Dr with Chinese cars customised in Molise. It was precisely from China that an increase in production volumes could have come, thanks to the Leapmotor models marketed through the joint venture between the Asian manufacturer and Stellantis. But the cold shower came from Tavares himself: only marketing and no production in Italy. And Mirafiori is left with only the Fiat 500 electric, at the end of its career, built on a platform that is not consistent with the group's others, and the twin Abarth 500 electric, which is a flop for now.

But how has it all come to this? By deliberately removing Italy from the world chessboard of automobile production and remaining tied exclusively first to the Fiat group, then to Fca and now to Stellantis.

And to say there was no shortage of opportunities. In the late 1990s Toyota decided to produce the Yaris in Europe but who was the only government not to show interest? The Italian one. In the end, France was chosen with the Valenciennes plant capable of building over 4 million vehicles in less than 20 years. And what about Ford? Ready in 1986 to buy Alfa Romeo (after Ferrari's attempt in 1963) with a deal that was decidedly advantageous for the Biscione but ended in a deadlock, and with the company passing to Gianni Agnelli's Fiat, thanks to the intervention of the politicians of the time. A better fate for the Volkswagen group, which was able to buy Ducati and Lamborghini (increasing their production, turnover and employees) but keeping away from opening plants for its own brands, which were instead present in Spain, Hungary, Belgium and the Czech Republic.

The Spanish example perfectly describes what could have been done in Italy as well. Seat, born in 1950, for over 30 years rebranded Fiat models (which founded it together with the Spanish government) until the arrival of Volkswagen. The German group enhanced its Latin character, added know-how and even put an Italian at the helm in 2015. Luca de Meo, the putative father (together with Lapo Elkann) of the Fiat 500 in 2007, who not only restored its accounts but also invented a new brand. Because if Seat lacks appeal, Cupra becomes a case history with a success exceeding the most optimistic expectations. And it is precisely De Meo's move from Fiat to Volkswagen (today he is at the helm of the Renault group) that sums up what is happening in and around Turin: a veritable brain drain. It has gone from over 112,000 employees in Italy in 2000, to 60,000 in 2017 and 47,200 in 2023. The decline in personnel has gone hand in hand with major disposals capable of changing the fate of the Italian automotive industry, as in the case of Magneti Marelli sold in 2018 for €6 billion. Not only companies but also unique development centres such as the Nardò track, sold to Porsche in 2012.