Stellantis said on Thursday that net
revenues in the third quarter of 2024 totalled 33 billion euros,
down 27% compared to the same period last year, "mainly due to
lower shipments and an unfavourable mix as well as pricing and
foreign exchange impacts".
Consolidated shipments of 1,148,000 units decreased by 279,000,
or 20%, on an annual basis.
The third quarter registered "production gaps in several models
as a global product transition begins" with "planned North
American inventory reductions and headwinds from a challenging
European market environment", the carmaker explained.
Stellantis confirmed on Thursday its 2024 financial guidance,
which was revised on September 30, citing "performance issues in
North America" and the "deterioration of the sector's global
dynamics".
Stellantis said it saw adjusted operating profit margin between
5.5% and 7% for all of 2024, down from its previous
"double-digit" estimate, while it expected to burn through
between 5 and 10 billion euros in cash this year, dropping
previous "positive" expectations.
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