US EditionCarmaker 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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Associated Press News
Carmaker Stellantis' second-half profits hit by North American strikes - Seymour Tribune
MILAN (AP) — Carmaker Stellantis on Thursday reported an 13% decrease in net profits in the second half of 2023 due to the impact of strikes in North America, its profit center, as it heads into a year it expects to be “turbulent.” The world’s third-largest carmaker, formed three years ago through the Peugeot PSA-FCA FiatChrysler merger, reported net profit of 7.7 billion euros ($8.3 billion) in the second half, down from 8.8 billion in the same…
Stellantis, the parent company of brands such as Opel, Peugeot, Jeep, Chrysler and Fiat, made significantly less profit in the second half of last year due to strikes at car companies in the United States. Partly because of this, the net profit fell by 13 percent to 7.7 billion euros, the group announced on Thursday.
Carmaker Stellantis' second-half profits hit by North American strikes - The Morning Sun
Carmaker Stellantis on Thursday reported an 13% decrease in net profits in the second half of 2023 due to the impact of strikes in North America, its profit center, as it heads into a year it expects …
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