The earnings of Stellantis fell in the first half of the year, and the company promised additional measures to deal with the sudden drop in sales.
Net income fell by 48 percent in the first six months of this year to 5.6 billion euros ($6.1 billion). That is much less than the previous average estimate of seven billion euros by Bloomberg analysts.
The results add to the pressure on CEO Carlos Tavares to reverse market share declines in several countries as the automaker faces high inventories and a wave of executive departures in the US, Bloomberg Adria writes.
Margins narrowed significantly in North America, Stellantis’ key profit region, after shipments fell 18 percent, primarily due to lower volumes and a combination of product challenges and negative net prices, the company said.
Stellantis is also facing an investigation in the US, due to the alleged problem with the engine, as well as the problem with the Takata airbags, and the recall of the vehicle in Europe.
“The company’s performance in the first half of 2024 was below our expectations, reflecting both the challenging industry context and our own operational issues,” Tavares said in the statement, adding that the company will launch 20 new vehicles in 2024 in order to catch up. stronger momentum.
Source:
Biznis.rs
Photo: Archive Autoblog.rs / Ram
Source: autoblog.rs
