Stellantis Faces Sales Slump and Stock Downgrade Amid U.S. Market Challenges

The automaker's U.S. sales fell by 20% in the third quarter, prompting a downgrade from Barclays and criticism of CEO Carlos Tavares' strategies.

Stellantis reported a significant 20% decline in U.S. sales for the third quarter, marking the fifth consecutive quarterly drop.
Chrysler and Dodge brands were hit hardest, with sales plunging 47% and 43% respectively, while only Fiat saw a sales increase.
Barclays downgraded Stellantis' stock, citing inventory issues and eroding market share in the U.S. and EU.
CEO Carlos Tavares acknowledged past mistakes and is implementing aggressive incentives to reduce inventory and prepare for 2025 models.
The company's stock has fallen 41% this year, and it faces potential labor strikes from the UAW over unmet contract commitments.