Stellantis Reports 20% Drop in Q3 Shipments Amid Inventory Adjustments

The automaker faces significant shipment declines globally, with North America experiencing a sharp 36% drop due to production cuts and inventory reductions.

Stellantis' global shipments fell to 1.15 million vehicles in the third quarter, down from 1.43 million last year.
The company has cut its 2024 profit forecast and expects to burn through more cash than anticipated.
North American shipments decreased by 171,000 vehicles, partly due to planned production cuts ahead of new model launches.
Despite shipment declines, Stellantis' U.S. market share increased to 8% in September.
Shipments in Europe also fell by 17%, impacted by delayed product launches, including the Citroen C3.