Stellantis lowers 2024 operating income margin forecast to 5.5%-7% due to declining sales, higher costs, and increased competition.
Stellantis, the parent company of brands like Chrysler and Jeep, has revised its financial outlook downward, predicting a significant cash burn this year and lowering its 2024 operating income margin forecast to 5.5%-7%. The adjustments stem from declining sales, higher costs, and intensified competition from Chinese electric vehicle manufacturers. As a result, Stellantis plans to reduce U.S. dealer inventory and cut shipments to North America by over 200,000 units.
September 30, 2024
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