Summary of planned model transfers to the USA
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Summary of planned model transfers to the USA
- Since his return as President of the United States in 2025, Donald Trump has repeatedly mentioned the need to bring automobile production back to US soil. The strong signal that allowed him to move from words to action was the imposition of new tariffs on imported vehicles, particularly those from Europe, China, and Japan, and even from Mexico and Canada, with which the United States had long-standing partnership agreements.
- Nearly one year after the beginning of the second Trump presidency, where do we stand on the issue of relocation?
• European Premium carmakers have been the most receptive. Volvo has decided to partially transfer the production of XC60 (60,000 per year starting in 2026) and XC90 (50,000 starting in 2028) in the United States, alongside the EX90 and the Polestar 3. Mercedes has decided to do the same with the GLC in the United States at a rate of 65,000 per year starting in 2027. BMW has announced that its American plant in Spartanburg will produce six different electric models by 2030. Finally, Audi has announced plans to build an assembly plant in the USA (capacity of 150,000 per year).
• GM and Stellantisalso responded favorably to the Trump administration's request. GM will transfer production of two of its key models from Mexico to the US (Chevrolet Equinox and Chevrolet Blazer), representing 375,000 units per year. Stellantis aims to increase its US production by 50% to meet American market demands and avoid tariffs (an additional 500,000 vehicles per year). $13 billion will be invested in various US plants (including the reopening of the Belvidere - Illinois plant, which closed in 2023). Five new models will be produced locally.
• Japanese carmakers, encouraged to produce more in the USA, have not yet announced any definitive plans.
The DS brand could return to Citroën's control
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The DS brand could return to Citroën's control
- The first DS models of the 21st century were launched under the Citroën brand in 2009. At the time, it was a separate range within the carmaker's range (then a subsidiary of the PSA group) which drew its inspiration from the legendary Citroën DS of 1955, famous for its futuristic style and technical innovations.
- In 2012, the Citroën DS range comprised three different models: the DS3 (B segment), the DS4 (C segment), and the DS5 (D segment).
To differentiate the Citroën and Peugeot brands and position them in distinct markets, thus avoiding cannibalization between the two, PSA's strategy was to specialize Citroën more in the entry-level segment. It then became necessary to separate DS from Citroën in 2014. Thus, a premium brand was created within the PSA Group in 2014, named DS Automobiles, positionned to compete with German premium carmakers Audi, BMW, and Mercedes. DS Automobiles is positioned as a French luxury brand, combining bold design, advanced technology, and refinement.
To differentiate the Citroën and Peugeot brands and position them in distinct markets, thus avoiding cannibalization between the two, PSA's strategy was to specialize Citroën more in the entry-level segment. It then became necessary to separate DS from Citroën in 2014. Thus, a premium brand was created within the PSA Group in 2014, named DS Automobiles, positionned to compete with German premium carmakers Audi, BMW, and Mercedes. DS Automobiles is positioned as a French luxury brand, combining bold design, advanced technology, and refinement.
- Four new models were launched: the DS7 (C segment) in 2017, the DS3 (B segment) in 2019, the DS4 (C segment) and the DS9 (D segment) in 2021. These models failed to gain traction, totaling 80,000 sales in 2019, 60,000 in 2022, 50,000 in 2024 and 40,000 in 2025, compared to over 130,000 in 2012. Even though the DS N°8 (D segment) was launched in 2025, replacing the short-lived DS9 (D segment), the brand has had to contend since the creation of the Stellantis group in 2021 with two premium brands integrated within this group, Lancia and Alfa Romeo, which compete in the same market segment. Stellantis is therefore considering a return of DS under Citroën's ownership, a move that proves delicate due to Citroën's new positioning. The DS3 and DS4 might not be replaced as their sales potential is deemed too low. The brand would then focus on premium models such as the DS N°7 (planned for 2026) and DS N°8.
The Indian market surpassed the Japanese market in 2024
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The Indian market surpassed the Japanese market in 2024
- The volume of the Indian car market surpassed that of the Japanese car market in 2024, and the gap between the two markets widened in 2025.
- In 2024, 4,274,789 passenger cars were sold in India, compared to 3,725,200 units in Japan. In the first nine months of 2025, 3,128,000 passenger cars were sold in India, while Japan purchased 2,465,000 units. This means that the gap between the two markets, which was approximately 550,000 units in 2024, widened to 663,000 units in the first nine months of 2025, and this gap is expected to widen further by the end of the year. The graph below, which shows the monthly sales curve for passenger cars in India and Japan, clearly demonstrates that sales in India eventually surpassed those in Japan starting from 2024.
- It is clear that the sales potential is greater in India than in Japan, firstly because of India's significantly larger population (the ratio is approximately 12 to 1), and secondly because the Japanese market is saturated, leading to stagnation for several decades, while the Indian market is still developing due to a very low motorization rate. A common feature of these two markets is the high proportion of small A-segment cars (Kei cars in Japan): 0.5 million in India in 2024 (12% of the market) and 1.2 million in Japan (32% of the market). In Europe, the A-segment represented 5% of the market in 2024 and 4% in 2025.
A split within the Stellantis group is a possible hypothesis
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A split within the Stellantis group is a possible hypothesis
- Former Stellantis CEO Carlos Tavares has expressed concerns about the balance between the three pillars of the carmaker, which comprises 14 different brands: France (ex-PSA Group = Peugeot-Citroën-DS-Opel-Vauxhall), Italy (ex-Fiat Group = Fiat- Abarth -Alfa Romeo, Lancia, Maserati) and the United States (ex-Chrysler Group = Chrysler, Dodge, Jeep, Ram), which could be weakened if internal tensions between these three pillars are not better managed.
- Tavares insists that the group's survival in its current form will depend on constant attention to its unity to prevent it from being pulled in multiple directions at once. Otherwise, he foresees a split between the European and American branches, which is equivalent to a resurrection of the Chrysler group, the former third-largest automaker in the Big Three. This would allow each division to refocus on its market, similar to what General Motors and Ford are doing.
- It is said that today, the main profit center of the Stellantis group is its American division (Chrysler, Dodge, Jeep, Ram), and while the group's diversity is a strength, it is also a source of managerial and cultural complexity, especially when national interests diverge. The group's current CEO, Antonio Filosa, announced $13 billion in investments in the United States, while making no announcements for Europe, which is causing concern among Europeans. Inovev believes that a split of the Stellantis group remains a possibility, as happened in the past with DaimlerChrysler or BMW-Rover.
BEVs will represent 8% of the US market in 2025
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BEVs will represent 8% of the US market in 2025
- According to passenger car sales figures recorded in US for the first nine months of 2025, the market share of BEVs (Battery Electric Vehicles) will reach 8% for the year as a whole, compared to 8% for the whole of 2024. This represents a significant stagnation, likely due, among other factors, to the Trump administration's new policy of relaxing CO2 standards and suspending restrictions on the purchase of internal combustion engine vehicles. This will shift demand from electric vehicles to internal combustion engine vehicles, thus reducing electric vehicle sales. The suspension of tax credits for electric vehicle purchases and subsidies for the construction of charging stations will exacerbate this trend.
- Internal combustion engine vehicles (including MHEVs not detailed in US statistics) will still represent the vast majority of vehicle sales (passenger cars and light utility vehicles) in the US in 2025, accounting for 79% of the market. This is a decrease compared to previous years (80% in 2024, 82% in 2023, and 87% in 2022). However, this trend reflects a slowdown of the decline year after year, and the new measures taken by the Trump administration will accentuate this phenomenon, potentially leading to a reversal of the situation with a renewed increase in the market share of internal combustion engine vehicles in 2026.
- The only growth area observed in the US so far, non-plug-in hybrid vehicles (F-HEVs), have increased from 6% of the US market in 2022 to 8% in 2023, 10% in 2024 and 11% in 2025. Plug-in hybrid vehicles (PHEVs) are not growing.