Auto giant Stellantis on Thursday reported a steep drop in first-half net profit, citing reduced volumes, temporary production gaps and lower market share in North America.
The company, which owns household names including Jeep, Dodge, Fiat, Chrysler and Peugeot, reported first-half net profit of 5.6 billion euros ($6.07 billion), down 48% from the same period of 2023.
Stellantis' adjusted operating income for the first six months of 2024 came in at 8.5 billion euros, down 5.7 billion euros on the year, primarily due to decreases in North America.
For its part, Stellantis posted first-half net revenues of 85 billion euros, down 14% compared to the same period a year earlier.
Of the 20 new product launches planned for 2024, Stellantis said 10 had already started production in the first six months of the year.
Persons:
Ram, Stellantis, Carlos Tavares, Wall
Organizations:
Dodge Chrysler, Auto, Dodge, Fiat, Chrysler, Peugeot, U.S, General Motors, Ford Motor, GM, Ford
Locations:
Miami , Florida, North America