Stellantis Faces Steep Profit Decline Amid North American Struggles

CEO Carlos Tavares outlines corrective actions as the automaker reports a 48% drop in first-half net profit, driven by operational issues and market challenges.

Stellantis' net profit fell to €5.6 billion in the first half of 2024, a 48% decline from the previous year.
The automaker's revenue dropped 14% to €85 billion, primarily due to poor performance in North America.
CEO Carlos Tavares announced plans to address high inventory levels and weak market share in the U.S.
Stellantis is considering axing underperforming brands and reintroducing old models to boost sales.
The company aims to launch 20 new vehicles this year to improve profitability.