Written by Brenda Nakalema

Dodge to Retire Its Charger and Challenger Muscle Cars. Looking to EV.

Chrysler/ Dodge parent company Stellantis (ticker: STLA) announced its decision to retire the gasoline-powered versions of its iconic Charger and …

Chrysler/ Dodge parent company Stellantis (ticker: STLA) announced its decision to retire the gasoline-powered versions of its iconic Charger and Challenger muscle cars. However, it also announced one final line-up of its gas-fueled models for 2023.

The American muscle car is a classic and has been around since the 1960s, with the Charger probably being the most famous owning to the popular TV show and 2005 film ‘The Dukes of Hazzard.’ The show’s protagonists, Bo and Luke, drove around in a 1969 orange Dodge charger.

With model names such as Demon, Hellcat, Redeye, Scat Pack, Shaker, and Jailbreak, the gasoline-powered Charger and Challenger are finally being retired; that means all new models of the cars will be EVs. In 2023, Stellantis will release seven more special edition vehicles, the ‘last-call’ of the gas-powered Challenger and Charger vehicles.

“We are celebrating the end of an era- and the start of a bright new electrified future- by staying true to our brand,” said Tim Kuniskis, Dodge brand chief executive officer. “The brand will mark the last of our forever iconic Charger and Challenger nameplates in their current form in the same way style that got us here, with a passion both for our products and our enthusiasts that has driven us to create as much uniqueness in the muscle car community and marketplace as possible.”

The company management did not reveal what comes next after the gasoline-powered vehicles. However, Stellantis hinted that it would launch “the world’s first full battery electric muscle car” in 2024. There’s high speculation that the next car will be either an EV Charger or an EV Challenger. Although the company refused to comment on what it will be named, consumers expect it will possess the same quality, power, and styling Americans have come to love in their muscle cars.

Stellantis stock stayed level in overseas trading Tuesday. S&P 500 and Dow Jones Industrial Average futures both declined roughly 0.1%. The company’s ADRs dropped roughly 19% year to date. Auto stocks suffered major headwinds amidst soaring inflation and rising interest rates. Automotive shares in Russell 3000 index dropped about 16% year to date.