Jeep, Dodge maker Stellantis reports 48% drop in first-half net profit on weak U.S. sales
Publishing timestamp: 2024-07-25 06:26:18
Summary
Stellantis reported a steep drop in first-half net profit, citing reduced volumes, temporary production gaps, and lower market share in North America. The CEO acknowledged operational issues and challenges in the industry, with the company's Milan-listed shares falling around 8.5%. Despite ongoing problems, Stellantis reconfirmed its 2024 guidance and plans to address issues with new model launches, price cuts, and potentially additional job cuts.
Sentiment: NEGATIVE
Keywords: autos, business, earnings, stellantis nv, business news,
Source: https://www.cnbc.com/2024/07/25/stellantis-h1-earnings-2024.html