Ram Trucks’ Bold Comeback: What Investors Must Know About Stellantis’ High-Stakes Turnaround
Ram Trucks, once a dominant force in the U.S. full-size pickup market, has faced a steep 38% sales decline since its peak in 2019. But with CEO Tim Kuniskis back from retirement and spearheading a no-holds-barred revival plan, investors and industry watchers should pay close attention. This is not just a routine brand refresh—it’s a strategic, multi-year renaissance that could reshape Stellantis’ fortunes and the broader truck market dynamics.
The Stakes: Why Ram’s Revival Matters
Ram is arguably the backbone of Stellantis’ North American business, competing in the highly lucrative full-size pickup segment—a segment that commands strong loyalty and robust profit margins. According to Edmunds, Ram’s market share in this segment has plummeted from 17.8% in 2019 to just 8.4% in the first half of 2025. Meanwhile, competitors like General Motors and Toyota have capitalized on this slide, growing their foothold.
As Joseph Yoon, consumer insights analyst at CarMax and Edmunds, puts it, "The market share is hugely important." For investors, this means Ram’s trajectory will significantly influence Stellantis’ revenue and profitability in the near term.
Kuniskis’ Turnaround Playbook: Tradition Meets Innovation
Since his return, Kuniskis has launched over 25 initiatives slated through 2026. Highlights include:
- Resurrecting the iconic Hemi V-8 engine, which sparked 12,000 orders on day one—a clear signal that traditional muscle still resonates with Ram’s core buyers.
- Reintroducing lower-priced models to broaden appeal.
- A return to NASCAR, leveraging motorsport’s passionate fan base with experiential marketing like the “Ride the Hemi” mechanical bull.
- A groundbreaking 10-year/100,000-mile powertrain warranty, setting a new industry standard and boosting consumer confidence.
- Delaying electrified pickups to focus on market readiness and demand, while preparing a plug-in extended-range electric vehicle (EREV) expected to launch soon.
This blend of "old school" muscle and strategic electrification reflects a nuanced understanding of current market realities. Kuniskis acknowledges that trying to overhaul everything at once—like the problematic Ram 1500 redesign—was a mistake. Instead, the plan is to pace changes, ensuring quality and consumer trust.
What This Means for Investors
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Watch Market Share Recovery as a Leading Indicator: Kuniskis aims for Ram’s full-size truck market share to rebound to between 20% and 29.9% by the end of this plan. Currently at about 17%, this is an ambitious but potentially transformative goal. Investors should track quarterly sales and market share data closely, as these will signal whether the turnaround is gaining traction.
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Retail Sales Growth Over Total Sales: Interestingly, retail sales—considered a purer measure of consumer demand—are expected to grow by 28% in the first half of 2025, even as total sales lag. This suggests improving brand health and dealer confidence, which could precede broader market share gains.
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Plant Utilization and Profitability: Kuniskis emphasizes maximizing plant capacity to enhance efficiency and margins. For investors, this focus on operational excellence bodes well for future earnings stability and growth.
- Electrification Timing and Strategy: While Ram’s all-electric pickup has been delayed, the upcoming EREV model with an industry-leading 690-mile range could be a game changer. This cautious but deliberate approach to electrification might protect Stellantis from premature investments in low-demand EV segments, unlike some competitors.
Unique Insight: The Power of Emotional Brand Loyalty
Ram’s revival isn’t just about specs and warranties—it’s about rekindling deep emotional connections. Pickup truck buyers often exhibit generational loyalty, acting as brand ambassadors within communities. Kuniskis’ “Last Tenth LFG” mantra, symbolized by wristbands handed to dealers and staff, encapsulates a culture shift toward relentless excellence and unity.
This focus on culture and dealer relations is a subtle but critical element often overlooked by investors. Dealers are the frontline in customer experience and brand perception. Michael Bettenhausen, chair of the Stellantis National Dealer Council, confirms that dealer optimism is at a high, signaling a strong foundation for sustained growth.
What’s Next? Actionable Steps for Investors and Advisors
- Monitor Quarterly Earnings Calls for KPI Updates: Look for detailed commentary on market share progression, retail sales trends, and plant utilization rates.
- Evaluate Stellantis’ Capital Allocation: Watch how much is invested in Ram’s electrification versus traditional product lines. A balanced approach could mitigate risks tied to EV market volatility.
- Consider Thematic Investments in Truck and Commercial Vehicle Markets: Ram’s turnaround could signal broader opportunities in commercial vehicle segments, where demand remains robust.
- Stay Alert to Competitor Moves: GM and Toyota are ramping up their truck offerings; Ram’s success will depend on how well it differentiates and executes.
Final Thought
Ram’s comeback story is a high-stakes wager on blending heritage with innovation. For investors, it offers a compelling case study on how legacy automotive brands can pivot strategically in a rapidly evolving market. As Kuniskis puts it, “You don’t want to chase share just for the sake of chasing share.” Instead, the focus is on sustainable growth, operational excellence, and emotional brand resonance—ingredients that could drive Ram back to its former glory and beyond.
Sources:
- Edmunds Market Share Data
- CarMax Consumer Insights
- Stellantis Corporate Announcements
- CNBC Interviews with Tim Kuniskis
Stay tuned to Extreme Investor Network for exclusive updates and in-depth analysis on how Ram’s turnaround unfolds and what it means for your portfolio.
Source: Inside Stellantis’ plan to revive its Ram Trucks brand after declines