Stellantis to launch new affordable cars under $30K to attract budget-conscious buyers

Stellantis, the parent company of Chrysler, Jeep, and Ram, announced plans to introduce nine new vehicle models priced under $40,000 by 2030, including several starting below $30,000. This move aims to capture budget-conscious customers amid rising inflation and high average vehicle prices, which have reached $50,000 in the US. The company plans to expand its US market share by 50% and cut costs by $3.5 billion by 2028, with new models including compact trucks, crossovers, and performance vehicles across its brands. This strategic shift follows a period of underinvestment and aims to revive legacy brands while adapting to changing consumer preferences.