Dodge maker Stellantis posts 27% drop in revenues, flags progress in slashing U.S. inventories
Publishing timestamp: 2024-10-31 13:01:07
Summary
Stellantis reported a 27% decline in third-quarter net revenues, attributing it to lower shipments and unfavorable mix. The company is making progress in addressing operational issues such as U.S. inventories and plans to deliver 20 new models this year. Despite a profit warning in September, shares closed 3% higher on Thursday. Stellantis is facing challenges in the auto industry, including high inventories and competition in the EV market.
Sentiment: MIXED
Tickers: 2015-HK, STLA, STLA-IT,
Keywords: united states, breaking news: business, autos, stellantis nv, earnings, li auto inc, business news, business, breaking news: europe,
Source: https://www.cnbc.com/2024/10/31/stellantis-revenue-q3-2024.html