Carmaker Stellantis slashes forecasts as it faces industry slump and Chinese competition

Carmaker Stellantis slashes forecasts as it faces industry slump and Chinese competition

Carmaker Stellantis has slashed its earnings forecast, citing investments to turn around its U.S. operations as the wider automobile industry faces a slump and increased Chinese competition.

Carmaker Stellantis slashes forecasts, faces industry slump and Chinese competition

Carmaker Stellantis has slashed its earnings forecast, citing investments to turn around its U.S. operations as the wider automobile industry faces a slump and increased Chinese competition

Because Stellantis sees black for Stellantis

Stellantis cut its economic forecast for 2024 due to competition with Chinese electric vehicles and problems in the United States. The crisis in the automotive sector is spreading. Meanwhile, Exor is making profits.

Up to now, at double digits, the automotive group's operating margin should be between 5.5 and 7% in 2024. Its heavy underperformance in North America, its largest global market, is one of the explanations.

Stellantis Slashes Forecast Amid Industry Challenges and Restructuring

Stellantis Slashes Forecast Amid Industry Challenges and RestructuringStellantis, the global auto giant, cuts earnings forecast due to U.S. operations overhaul and industry headwinds. The company accelerates inventory reduction and faces pressure in key markets.

Company faces difficulties in US operations and increased competition in electric vehicle segment Stellantis, the automaker that owns the Jeep and Ram brands, issued a warning of reduced profits for 2024, amid investments needed to turn around its US operations and of increased competition from Chinese manufacturers [...]