Feb. 26, 2026 | No profit sharing for Stellantis UAW workers; Will companies get tariff refunds?
About this episode
Stellantis faces a challenging year with no profit-sharing checks for UAW workers due to a $2.2 billion loss in North America, driven by tariffs, falling sales, and discontinued models. Learland secures a major seating contract with Ford, marking a significant industry shift. GM shifts to gas-powered vehicles for mobile service, abandoning its electric van plan. Legal expert Chauncey Mayfield explains the Supreme Court's tariff ruling, highlighting ongoing uncertainty about refund processes for automotive suppliers and the broader impact on the supply chain's predictability.
Stellantis UAW workers won’t receive profit-sharing checks for the first time since 2011 after the automaker posted losses in North America. Lear scores historic Super Duty seating win from Forvia. Plus, attorney Chauncey Mayfield of Honigman explains what comes next for companies hoping to get refunds for tariffs that the U.S. Supreme Court has now deemed illegal.
Lear
"Lear has scored a historic conquest by landing Ford's next-generation Super Duty seating contract."
Lear is a company that makes car seats and electrical parts for many car makers.
Lear Corporation is a major automotive supplier specializing in seating and electrical systems. It supplies components to many vehicle manufacturers worldwide.
next-generation
"Lear has scored a historic conquest by landing Ford's next-generation Super Duty seating contract."
Next-generation means the newest version of something, like a car or part, that is better or different from the older ones.
Next-generation refers to the latest or upcoming version of a product, usually featuring improvements or new technology compared to previous versions.
Ford Super Duty
"Lear has scored a historic conquest by landing Ford's next-generation Super Duty seating contract."
The Ford Super Duty is a big truck made by Ford that can carry heavy loads and tow trailers. People use it for work because it is very strong and reliable.
The Ford Super Duty is a series of heavy-duty pickup trucks designed for towing and hauling. It is widely used in commercial and industrial applications and is known for its durability and power.
Forvea
"The win displaces Forvea, which supplied the program for two generations over a decade."
Forvea is a company that made seats for Ford trucks before Lear won the contract.
Forvea is an automotive supplier known for producing seating systems. It had supplied seats for the Ford Super Duty program for two generations before being displaced.
upfit
"Starting this quarter, dealers can upfit the Chevy Equinox, GMC Terrain, and Cadillac X-T5 for Mobile Service Plus,"
Upfitting means changing a vehicle by adding tools or parts so it can do special jobs, like helping with repairs on the go.
Upfitting refers to modifying a vehicle with additional equipment or features to suit specific commercial or specialized purposes, such as mobile service vehicles.
GMC Terrain
"Starting this quarter, dealers can upfit the Chevy Equinox, GMC Terrain, and Cadillac X-T5 for Mobile Service Plus,"
The GMC Terrain is a small SUV that can be changed to help with mobile work, like fixing things or delivering items.
The GMC Terrain is a compact SUV from GMC, often used for both personal and commercial purposes, including upfitting for specialized service vehicles.
Chevrolet Equinox
"Starting this quarter, dealers can upfit the Chevy Equinox, GMC Terrain, and Cadillac X-T5 for Mobile Service Plus,"
The Chevrolet Equinox is a type of SUV that can be modified to help with mobile services, like repairs or deliveries, making it useful for businesses.
The Chevrolet Equinox is a compact crossover SUV produced by Chevrolet, popular for its versatility and used in various commercial applications including upfitting for mobile services.
Cadillac XT5
"Starting this quarter, dealers can upfit the Chevy Equinox, GMC Terrain, and Cadillac X-T5 for Mobile Service Plus, cutting upfront costs by at least half"
The Cadillac XT5 is a fancy SUV that is comfortable and has lots of modern features. People like it because it looks nice and is good for families or people who want a smooth ride.
The Cadillac XT5 is a luxury midsize SUV offering a blend of comfort, technology, and style. It is often discussed in contexts like dealer services and upgrades due to its popularity in the luxury crossover segment.
PSA Group
"...generated since FCA merged with PSA Group to form Stellantis back in 2021."
PSA Group was a car company from France that made brands like Peugeot before joining with FCA to become Stellantis.
PSA Group was a French automotive manufacturer that merged with FCA to form Stellantis. PSA owned brands like Peugeot, Citroën, and Opel.
Fiat Chrysler Automobiles (FCA)
"...generated since FCA merged with PSA Group to form Stellantis back in 2021."
FCA was a big car company that made brands like Jeep and Dodge before joining with another company to become Stellantis.
Fiat Chrysler Automobiles was a major automotive manufacturer before merging with PSA Group to create Stellantis. FCA owned brands like Jeep, Dodge, Chrysler, and Ram.
Stellantis
"...generated since FCA merged with PSA Group to form Stellantis back in 2021."
Stellantis is a big car company made when two big car companies, FCA and PSA Group, joined together. They make lots of different cars under many brand names.
Stellantis is a multinational automotive manufacturing corporation formed in 2021 by the merger of Fiat Chrysler Automobiles (FCA) and PSA Group. It owns multiple well-known car brands and is one of the largest car manufacturers globally.
Dodge Charger
"... was several things. And so if you remember, the charger, the Challenger, the Jeep Cherokee, all those ve..."
The Dodge Charger is a big car that can go really fast and has a strong engine. People like it because it looks cool and can be used for everyday driving or special purposes like police cars.
The Dodge Charger is a full-size sedan known for its powerful engine options and muscle car heritage. It has been a popular choice for those seeking performance combined with practicality, often discussed due to its role in American muscle car culture and law enforcement fleets.
Dodge Challenger
"...things. And so if you remember, the charger, the Challenger, the Jeep Cherokee, all those vehicles were drop..."
The Dodge Challenger is a sporty car that looks like cars from the past and can go very fast. People like it because it’s fun to drive and has a cool, old-fashioned style.
The Dodge Challenger is a classic American muscle car known for its retro styling and high-performance engines. It is often discussed for its blend of nostalgic design and modern technology, appealing to enthusiasts who want a powerful coupe with a vintage feel.
Jeep Cherokee
"... remember, the charger, the Challenger, the Jeep Cherokee, all those vehicles were dropped several years ag..."
The Jeep Cherokee is a small SUV that can drive on rough roads and is comfortable inside. People choose it because it can handle tough places but is also good for everyday driving.
The Jeep Cherokee is a compact SUV known for its off-road capability and comfortable interior. It has been a significant model in Jeep's lineup, often mentioned due to its blend of ruggedness and daily usability.
profit-sharing check
"And so this profit-sharing check we're seeing this year is sort of, I guess, almost like a culmination of stuff that's happened in the last couple of years."
A profit-sharing check is money given to workers or owners when the company makes good money. It shows how well the company is doing.
A profit-sharing check is a payment made to employees or stakeholders based on the company's profits over a certain period. In the automotive industry, this can reflect the financial health and success of vehicle sales.
electric vehicle (EV)
"The charger came back last year as an EV and volume was low for that model."
An electric vehicle is a car that runs on electricity instead of gas. It is better for the environment because it doesn't produce smoke.
An electric vehicle (EV) is a car powered entirely or primarily by electricity stored in batteries, rather than gasoline or diesel. EVs produce zero tailpipe emissions and are becoming more common in the automotive market.
slanners
"Then at the same time, dealers back in 2024, they were warning slanners that vehicles were overpriced and they were just piling up on lots. And so slanners had to rebound by putting in hefty incentives to move those cars."
Slanners means car sellers who use online websites to sell cars, sometimes offering discounts to sell them faster.
Slanners is a slang term referring to car dealers or sellers who use the online platform 'Sellers' or similar marketplaces to sell vehicles, often at discounted prices or with incentives to move inventory.
incentives
"And so slanners had to rebound by putting in hefty incentives to move those cars. And of course, incentives aren't free. You've got to pay for that. And so slanners had to put the bill on those incentives."
Incentives are deals or discounts that car sellers offer to make it easier for people to buy cars.
Incentives are discounts, rebates, or special offers provided by manufacturers or dealers to encourage customers to buy vehicles, often used to reduce excess inventory or boost sales.
tariffs
"I mean, incentives, the tariffs that came in last year,"
Tariffs are extra taxes that make imported cars more expensive to buy.
Tariffs are taxes imposed by governments on imported goods, including cars. They can increase the cost of vehicles imported from other countries, affecting pricing and availability.
CEO
"were made under our previous CEO Carlos Tavares. We've got a new CEO now,"
A CEO is the boss of a company who makes big decisions and leads the business.
CEO stands for Chief Executive Officer, the highest-ranking person in a company responsible for making major decisions and managing overall operations.
Dodge Charger Six Pack
"...like you said, the Cherokee, the Charger Six Pack. Based on what you've heard from dealers in the company..."
The Dodge Charger Six Pack is a fast and powerful car with a special engine setup that helps it go really fast. It's a muscle car, which means it's built for speed and looks cool.
The Dodge Charger Six Pack is a performance-oriented variant of the Dodge Charger muscle car, featuring a powerful engine setup with three two-barrel carburetors, known as the 'Six Pack'. It emphasizes high horsepower and aggressive styling.
retail sales goal
"So this year, they set a retail sales goal of having a 25% bounce. That's pretty ambitious."
A retail sales goal is a number that a car company wants to reach for selling cars to people like you and me. It shows how many cars they hope to sell in a certain time.
A retail sales goal is a target set by a company or dealership for the number of vehicles they aim to sell to individual customers within a certain period. It helps measure business performance and market demand.
Hemi
"Hemi is back in the 1500."
Hemi is a type of engine that helps cars go faster by burning fuel more efficiently. It's a special kind of engine used in some Dodge trucks and cars.
Hemi refers to an engine design featuring hemispherical combustion chambers, known for improved airflow and power output. It is a signature engine type used by Dodge and other Chrysler vehicles.
Ram 1500
"Hemi is back in the 1500."
The Ram 1500 is a big truck that people use for work or driving around. It has strong engines and lots of space.
The Ram 1500 is a full-size pickup truck known for its capability, comfort, and available powerful engines like the Hemi V8. It is a popular model in the American truck market.
supply chain
"number in the supply chain have paid, right? Because the automotive industry is naturally,"
The supply chain is all the steps and people needed to make and deliver car parts and cars to buyers.
The supply chain in the automotive industry refers to the network of suppliers and manufacturers involved in producing and delivering car parts and vehicles.
Tier 1, Tier 2, Tier 3 suppliers
"will be with Tier 1, Tier 2, Tier 3 suppliers are still buying goods from overseas"
There are different levels of companies that make parts for cars: some sell directly to car makers, others sell to those companies, and some provide basic materials.
Tier 1 suppliers provide parts directly to automotive manufacturers, Tier 2 suppliers provide parts to Tier 1, and Tier 3 suppliers supply raw materials or components further upstream.
Request an Explanation
Heard something you'd like explained? We'll add it to this episode.
Sign in to request explanations for terms you heard.
Want to learn more?
Browse our glossary for plain-English explanations of automotive terms, jargon, and concepts.
Help improve this episode
See something that's not quite right? Our annotations are AI-generated and can sometimes miss the mark. Click the flag icon on any annotation to suggest a correction.