“We will reward our employees,” promises boss Carlos Tavares

The boss of the automobile group, invited Thursday on franceinfo, assures that nearly 1.9 billion euros will be distributed to employees, after a record profit in 2023, or “a profit-sharing of 4,100 euros” per employee. “They were remarkable,” greets Carlos Tavares.

“We are going to reward our employees for the year 2023”, promised Stellantis boss Carlos Tavares on Thursday February 15 on franceinfo. The Stellantis automotive group published a new record profit of 18.6 billion euros for 2023 on Thursday, up 11% year-on-year. “We should be pleased that the company is doing well, even very well”he congratulated himself.

“For this year, we will pay our employees no less than 1.9 billion euros worldwide in performance and incentive bonuses”, he explained. Over the last three years, “we have accumulated around 6 billion in rewards which are paid to our employees”, underlined the general director of the group resulting from the Peugeot-Citroën and Fiat-Chrysler merger. The opportunity for him to recall that “this represents an incentive of 4,100 euros” per employee, “i.e. approximately 2.5 times our company’s minimum wage.”

“A return” done to employees “completely correct and completely well won”, he estimated. Carlos Tavares explains these record profits above all by “the excellent work of the employees. They were remarkable and I would like to thank them and congratulate them warmly”, did he declare. The boss of Stellantis also raised the threat of Chinese competition in the electric sector. “It is important that our company is as robust, as healthy as it is today and that is why I encourage all of our employees to continue to execute the strategic plan with a lot of focus, a lot of rigor, a lot of professionalism”he warned. “I am very happy that our employees understand that today’s results are the strength of tomorrow’s company”he insisted.

No merger with Renault

The group with 14 brands recorded a turnover of 189.5 billion euros, up 6% year-on-year. “The revenues were good revenues but at the same time, we continued to work on our processes, on our quality, on the way of creating and manufacturing our vehicles, which also allowed us to reduce our costs”, he clarified. All this combined with “attractive technologies with brands that have a lot of value in the eyes of our consumers” he explained.

This allows the group to invest “in the future”. “The company and the industry are in full transformation,” continues Carlos Tavares.

“We have levels of investment in engineering and technological products which are very high, of the order of 12 to 14 billion per year.”

Carlos Tavares, boss of Stellantis

at franceinfo

“All this money we make, we also reinvest in everything related to the transformation of the company”he continued. “We are investing massively, not only to offer a range of very competitive electric vehicles, but also to ensure that our company is carbon neutral by 2038”, he warned, before ruling out a merger with Renault. A rapprochement with Boulogne-Billancourt, Renault headquarters, “is not part of the hypotheses”, he slipped.