Stellantis are in this mess because of Carlos Tavares
Before the merger of FCA and PSA, it seemed like FCA was doing quite well. Most of the brands were healthy and outlook seemed good.
The fatal mistake that led to this mess was hiring Carlos Tavares instead of Mike Manley as CEO after the merger. Obviously there are things that a CEO could not decide, such as the COVID19 pandemic or EPA regulations. But Tavares was known in the industry as a cost cutter, arrogant, and Europe-focused. He thus cut a lot from the US side of the business, which just so happened to be the profitable side.
Probably none of the successors could hold a candle to the late Sergio. But with Mike Manley it seemed to be quite a well run business given the circumstances at the time post Mercedes and Cerberus.
Now we see article after article of Stellantis offering revival models and trying to claw back. They could have avoided all this by not going with Tavares in the first place. But I get the sense that even though this was a "merger of equals", politically it was PSA that had the upper hand, so they called the shots on this.
Hopefully Stellantis can recover from this unfortunate situation that they find themselves in.