Stellantis Issues Profit Warning, Cites Global Markets, Chinese Competition
Its adjusted profit margin is now expected to be between 5.5 and 7.0% for the year, down from "double digit" previously forecast, the company said, adding industrial free cash flow is now expected to range between -5 billion to -10 billion euros, down from a prior "positive" projection.
Global car stocks dropped after Jeep maker Stellantis and U.K. luxury carmaker Aston Martin joined Volkswagen and others in cutting earnings forecasts, signaling a worsening industry outlook.
The automaker, created by a 2021 merger, is dealing with labor unrest, slumping sales and a revolt from its dealers.
Stellantis NV revised on Monday its guidance downward, reflecting decisions to significantly enlarge remediation actions on ...
The electric-vehicle maker's China unit secured an investment of 13.3 billion yuan, equivalent to $1.9 billion. NIO shares rose nearly 17% in Hong Kong and jumped i ...
Stellantis says full-time workers will be laid off and seasonal supplemental workers will be "separated" but isn't saying how ...
Stellantis Updates 2024 Financial GuidanceAMSTERDAM, September 30, 2024 – Stellantis N.V. today revised its 2024 financial guidance, reflecting ...
The United Auto Workers union asked the workers at Stellantis to authorize a strike, accusing the French-Italian car maker of ...
It now sees adjusted operating margin for the year between 5.5% and 7%, vs. a previous view of double digits, and industrial free cash flow between -€5 billion and -€10 billion. Stellantis said the ...
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