Stellantis workers work on April 10, 2024 inside new hybrid and PHEV vehicles in Turin, Italy.
Stefano Guidi | Getty Images News | Getty Images
Automatic Giant Stellantis On Wednesday, the company scrambled to take steps to improve its performance and profitability.
The household name Mutlinational conglomerate, which owns Jeep, Dodge, Fiat, Chrysler and Peugeot, has a full-year net profit of €5.5 billion ($5.77 billion), down 70% from 70% 18.6 billion euros In 2023.
According to a consensus from LSEG, analysts expect net profit of 6.4 billion euros for the full year in 2024.
The stock of Milan listed companies is only more than 7% per year.
When the company continued to look for a new CEO, the result came Leaving suddenly Carlos Tavares late last year
Stellantis explain It hopes to name its successor in the first half of this year, with Chairman John Elkann leading the interim executive committee until it holds the post.
Like many of its peers, the automaker has been hit by a series of challenges in recent months, including performance issues in North America, reduced global demand for new cars and difficulties in China’s largest auto market.
Stellantis release September’s profit warning warned that sales in most regions were lower than expected sales in the second half of 2024.
It said the company’s adjusted operating income margin was expected to be between 5.5% and 7% for the full year of 2024, lower than the previous “even” outlook.
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