US EditionCarmaker Stellantis slashes forecasts as it faces industry slump and Chinese competition
- Stellantis, the world’s fourth largest carmaker, reduced its earnings forecast due to industry challenges and competition from China.
- Stellantis expects a negative cash flow of 5 billion to 10 billion euros, replacing previous positive forecasts.
- The company's first-half net profits dropped by 48% compared to last year, with U.S. sales down nearly 16%.
30 Articles
30 Articles
Associated Press News
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
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 [...]
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