Stellantis is fighting hard for a win after a series of product recalls, strike action, and financial downturns in Q3. In particular, it was hit hard on 30 September when its revised profit outlook went from positive cash flow to negative, a move that ultimately shed €47bn (US$51.06bn) from its share price. The company’s stock has lost 40% of its value in 2024.
Stellantis’ Q3 2024 report, released on 31 October, indicated that an end to its present difficulties might be on the horizon, albeit still far away. Net revenues for the quarter were €33bn, down 27% year-on-year, and consolidated shipments fell 20% to 1.1 million units. Inventory reduction in North America is arguably the automaker’s most pressing goal.
