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Shares of Dodge-maker Stellantis drop 8% after it issues profit warning
The conglomerate, known for brands such as Chrysler, Dodge and Jeep, warned of lower-than-expected sales "across most regions" in the second half of the year.
Stellantis warns on profit, citing global markets, Chinese competition
Stellantis NV on Monday slashed its annual forecasts and said it would burn through more cash than expected, citing worsening trends in the industry, higher costs to overhaul its U.S. business and Chinese competition on electric vehicles.
Stellantis Issues Profit Warning, Cites Global Markets, Chinese Competition
Its adjusted profit margin is now expected to be between 5.5 and 7.0% for the year, down from "double digit" previously forecast, the company said, adding industrial free cash flow is now expected to range between -5 billion to -10 billion euros, down from a prior "positive" projection.
22h
Why Stellantis, Owner of Chrysler, Jeep and Ram, Is Struggling
The automaker, created by a 2021 merger, is dealing with labor unrest, slumping sales and a revolt from its dealers.
2h
Stellantis revises guidance downward, citing performance issues, industry dynamics
Stellantis NV revised on Monday its guidance downward, reflecting decisions to significantly enlarge remediation actions on ...
58m
Stellantis Updates 2024 Financial Guidance
Stellantis Updates 2024 Financial GuidanceAMSTERDAM, September 30, 2024 – Stellantis N.V. today revised its 2024 financial guidance, reflecting ...
2d
Stellantis to pause production at Detroit SUV plant as UAW talks strike
Production of Jeep Grand Cherokees and Dodge Durangos at the Detroit Assembly Complex-Jefferson plant will halt amid bloated ...
5d
on MSN
Stellantis plans UAW layoffs 'across its footprint,' but provides no specifics
Stellantis says full-time workers will be laid off and seasonal supplemental workers will be "separated" but isn't saying how ...
2d
UAW urges Stellantis workers to authorize strike, accuses car maker of breaching contract
The United Auto Workers union asked the workers at Stellantis to authorize a strike, accusing the French-Italian car maker of ...
Automotive News
1d
Why Stellantis wants to be more like the Chinese to compete on EVs
Stellantis CEO Carlos Tavares wants to adopt the low-cost mindset of Chinese EV makers, but the automaker must navigate trade ...
4d
Italian unions call strike at Stellantis on Oct. 18 over falling production
MILAN, Italy — Italian unions have called a one-day strike on Oct. 18 for metal workers at Stellantis and its local suppliers ...
2d
Fain letter urges UAW Stellantis members to be ready to OK strike
The UAW says Stellantis isn't living up to its commitments on product and investments, which the company denies.
1h
Stellantis Cuts 2024 Forecast on Costs for US, Global Slowdown
Stellantis NV cut its profit margin forecast for the year, citing costs to revive its struggling Jeep and Dodge businesses in ...
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