Jeep, Dodge-maker Stellantis' profit slides as Detroit Three strikes bite
Publishing timestamp: 2024-02-15 11:39:16
Summary
Stellantis, the global auto giant, reported a 10% year-on-year fall in profit in the second half of 2023 due to strikes at Detroit Three automakers. However, the earnings were more resilient than expected, with adjusted operating income exceeding forecasts. Stellantis' U.S. operations were not strong in 2023, but the company is optimistic about 2024. Despite the impact of industrial action, the company reported strong earnings for the whole of 2023, marking its third consecutive year of record results. Stellantis plans to focus on all-electric vehicles in 2024 and remains committed to investing in EVs and supporting technologies. The company faces competition from Chinese automakers in the European market.
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Keywords: breaking news: markets, transportation, united states, earnings, tesla inc, ford motor co, dividends, autos, markets, breaking news: business, hyundai motor co, stellantis nv, general motors co, elon musk, business news,