Stellantis Faces Major Setbacks Amid Profit Decline and Leadership Uncertainty

The automaker slashes forecasts and grapples with internal turmoil as CEO Carlos Tavares' future remains unclear.

Stellantis has significantly reduced its profit forecast for 2024, citing lower production and increased promotional spending.
The company reported a 48% decline in net profits for the first half of 2024 compared to the previous year.
CEO Carlos Tavares is under intense pressure from investors, dealers, and unions due to sliding sales and outdated vehicle lineups.
Stellantis plans to cut production by 200,000 vehicles in the second half of the year to align with its inventory targets.
The search for Tavares' successor has begun, but no clear internal candidate has emerged, raising concerns about future leadership.