Reported 7 days ago
Stellantis, the fourth largest carmaker globally, has significantly revised its earnings forecast downward due to investments aimed at restructuring its U.S. operations as it navigates an industry slump and rising competition from Chinese manufacturers. The company aims to reduce dealer inventory and is facing a negative cash flow projection of €5 to €10 billion for the year. Stellantis also reduced its expected operating profit margin and is searching for a new CEO following a steep drop in profits and sales in the U.S.
Source: YAHOO