The company attributed the decline primarily to lower sales volumes and mix and highlighted its lower market share in North America.
However, Stellantis has launched 20 new products in 2024 so far, including 10 now in production, and has plans for more in order to drive improved results.
Adjusted operating income for the period was €8.5 billion, down by €5.7 billion year-on-year, driven by North America. Net profit declined by 48% to €5.6 billion.
CEO Carlos Tavares said: “The Company’s performance in the first half of 2024 fell short of our expectations, reflecting both a challenging industry context as well as our own operational issues.
“While corrective actions were needed and are being taken to address these issues, we also have initiated an exciting product blitz, with no fewer than 20 new vehicles launching this year, and with that brings bigger opportunities when we execute well. We have significant work to do, especially in North America, to maximise our long-term potential. I want to thank every employee for their teamwork and commitment during this very consequential chapter of our story.”
Source link : https://internationalleathermaker.com/north-america-drives-declines-for-stellantis-in-h1/
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Publish date : 2024-07-26 12:03:08
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