Reported 26 days ago
Stellantis reported a 27% drop in revenue for the third quarter due to reduced shipments and lower pricing power as it seeks to address high inventory levels and poor sales performance. Despite the decline, the results were slightly better than analysts expected, leading to a rise in the company's shares. The company aims to cut inventory in the U.S. by 100,000 vehicles and is exploring new product launches to recover margins, while also signaling potential cuts to dividends and share buybacks in 2025 amidst broader struggles facing the automotive industry.
Source: YAHOO