European carmakers warn on profits in the face of weak demand and rising costs
European carmaker Stellantis on Monday joined bigger rival Volkswagen and others in warning about the worsening outlook for auto demand and rising costs, wiping billions of euros off the sector's market value.
European Autos Challenged By EVs, China, Weak Sales, Profit Warnings
Europe's auto makers face challenges as electric cars stall, overall sales weaken, profits fall, plant closures loom, and challenges mount from China’s cheaper EVs.
Stellantis shares plunge as carmaker follows Volkswagen in warning on profits
Shares in Chrysler parent Stellantis plunged almost 14% in Milan Monday after the Italian-American carmaker slashed its forecasts for full-year profitability and cash flow, citing weaker global sales and increased competition from Chinese rivals.
European carmakers warn on profits as sector grapples with weak demand, rising costs
European carmaker Stellantis joined on Monday bigger rival Volkswagen and others in warning about the worsening outlook for auto demand and rising costs, wiping billions of euros off the sector's market value.
Italy's Stellantis becomes latest car giant to issue profits warning
The struggling maker of Jeep and Ram is looking for a new CEO to succeed Carlos Taveres, who is under fire from US dealers and the United Auto Workers union after a dismal first-half financial performance.
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