Pickup truck profits highlight growing divide among global automakers

Cash-rich pickup sales are widening the divide between global automakers that rely on combustion engines and those trying to pivot to EVs as China sales weaken. On Thursday, Stellantis reported solid U.S. growth in the second quarter, with sales up 6% and high-margin pickup trucks rising 11%. CEO-facing pressure is rising elsewhere: Europe sales increased just 3% as Stellantis cut prices amid lower-cost Chinese arrivals like BYD and Chery. In parallel, BMW is struggling in China, with second-quarter sales down 30%, a 35% quarterly profit drop, and plans to review “untouchable” practices, while Porsche is set to cut 1 in 5 jobs.