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CNBC examines the high-stakes decisions transforming the U.S. auto industry.
Cars once promised independence and transportation for all Americans. Now, they are a luxury product that cost about $50,000, nearly 30% higher than just a few years ago. Affordable vehicles, especially those below the price of $20,000, have nearly disappeared. And while Automakers pulled in record profits in 2023, slim margins combined with deep investments into EV batteries, software and other technology is making it hard to produce cars much cheaper. Chinese automakers can, but they're impeded by tariffs and rules. Insiders say that is just a bandage - automakers need to compete.
The HEMI name is one of the strongest names in the history of the brands collectively known under the Chrysler and MOPAR names - Jeep, Dodge, Chrysler, and the RAM Trucks brand. The 5.7 liter HEMI V8 was especially important to RAM, as the company learned the hard way. Dropping the engine in an effort to get greener cost the company at least 30,000 customers annually. Sales fell every quarter after the company replaced the HEMI with the smaller Hurricane inline 6-cylinder–even though that engine has higher horsepower and torque numbers than the HEMI. So RAM buckled and brought back the engine. The whole saga is another example of the kinds of trouble the American Chrysler brands faced after they merged with Peugeot to form Stellantis.
The Chrysler name was once one of the most recognizable in the American automotive ind
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