Jeep’s new CEO Antonio Filosa, who has been in the role for a few months now, is facing a major challenge: transforming the brand into an international success. Filosa has set ambitious goals, including doubling global sales. This means reaching two million vehicles sold in a year by 2030.
Jeep CEO aims to double global sales by 2030
In a recent interview with Automotive News, Filosa outlined his plans for the brand. The CEO aims to push his brand’s sales in the United States over the one million mark and double its market share in Europe, which has historically not been kind to American cars.
Filosa believes new products like the electric Recon SUV and Wagoneer S will help boost profitability and volume. Despite Jeep’s sales remaining stagnant, the CEO noted that the automaker has seen growth in the Q1 2024, with US sales up 3%.
According to Filosa, the key to improving finances and boosting sales is a new strategy based on three pillars. These include production costs and greater flexibility in terms of the engine range. Consumer buying habits have shown automakers that the world is not yet ready to go fully electric, so they need to offer them a wide choice. Another important factor is having an SUV in the most important segments. Filosa attributes the brand’s sales decline in the US (from 86% to 52%) to the end of production of the Jeep Cherokee.
The lack of a Cherokee-sized vehicle has hit the automaker the hardest. “When you lose your core offering of mid-size SUVs, you get shut out of a segment that’s worth over 4 million units a year in the US alone,” Filosa said.