Of the many strategic blunders Tavares made during his four-year reign over what was once a $93 billion conglomerate, perhaps his most egregious was the mismanagement of Jeep, Stellantis’ crown jewel. He jacked up prices and increased production of Jeep’s most expensive trims, without adequately investing in new products, which left gaping holes in an aging lineup and swelling inventory on dealer lots. The extent of the damage became clear in July 2024, when Stellantis reported that its net income had been cut almost in half. By September, exasperated dealers sent an open letter to Tavares accusing him of destroying the company’s brands.