Carmaker Stellantis' second-half profits hit by North American strikes
- Carmaker Stellantis reported a 13% decrease in net profits in the second half of 2023 due to strikes in North America, impacting its profit center.
- The strikes led to increased pay across the industry and higher vehicle costs as Stellantis shifts away from gasoline-fueled vehicles. In the second half of the year, North American revenues dropped 5.6% to 40.5 billion euros.
- Stellantis anticipates a "turbulent" year ahead and expects higher labor costs in North America due to a union deal. Full-year profit rose 11% to 18.6 billion euros, and the company plans to increase dividend payments by 16% this year.
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Leaning Left2Leaning Right0Center7Last UpdatedBias Distribution78% Center
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- 78% of the sources are Center
78% Center
L 22%
C 78%
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