The global automaker’s sales in North America declined over the past year because of high-cost models that dealers struggled to sell.

John Elkann, 48, is heir to the illustrious Agnelli family that founded Fiat, the closest thing Italy has to royalty and often compared to the Kennedys due to its history of fame, charisma and tragedy.

When 24-year-old Elena Aragon set out to buy a new car, she reviewed a range of no-frills brands in her home town of Cadiz, Spain, including Stellantis' Fiat and Peugeot.