Net sales decreased by 14%… Impact of decline in North American market share, etc.
(Auburn Hills, Michigan, USA) = AP/Newsis) Stellantis, an American automobile manufacturer that owns famous brands such as Jeep, Dodge, Fiat, Chrysler, and Peugeot, announced on the 25th (local time) that its net profit in the first half of this year recorded poor performance, with a sharp decline. The photo is the Stellantis Michigan headquarters building. 2024.7.25
(Seoul = Newsis) Reporter Choi Hyeon-ho = Stellantis, an American automobile manufacturing company that owns famous brands such as Jeep, Dodge, Fiat, Chrysler, and Peugeot, announced on the 25th (local time) that it had recorded poor performance in the first half of this year, with its net profit plummeting.
According to CNBC, Stellantis announced that its net profit for the first half of this year was 5.6 billion euros (about 8.398 trillion won), a 48% decrease from the same period last year.
Net sales amounted to 85 billion euros, down 14% year-on-year. Adjusted operating profit amounted to 8.5 billion euros (approximately 12.7493 trillion won), down 5.7 billion euros year-on-year.
Stellantis explained that the performance was affected by factors such as decreased production and a decline in market share in North America.
“Our first half of 2024 results were below our expectations, reflecting both challenging industry conditions and our operational challenges,” said Carlos Tavares, Stellantis’ CEO. “We have taken corrective action to address these challenges, which is ongoing, and we have started an exciting product campaign this year with 20 new models, which we believe will create significant opportunities if we execute well.”
He also noted that “significant work remains to be done to maximize its long-term potential, particularly in North America.”
Stellantis also added that 10 of the 20 new car models scheduled for launch this year began production in the first half of the year.
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Source: www.newsis.com
