Key Takeaways Stellantis said Wednesday that worldwide shipments of its vehicles fell by 20% in the third quarter, with a 36% drop in North America. The lower shipments can be partly be attributed to previously announced production cuts and efforts by car dealers to lower their inventories. Big Three automaker Stellantis (STLA) reported worldwide shipments dropped 20% year-over-year in the third quarter, including a 36% decline in North America amid high dealer inventory levels. Shipments during the quarter by the Jeep and Chrysler parent fell to about 1.15 million vehicles from 1.43 million last year. Stellantis shares were up 1% at $13.08 soon after the opening bell Wednesday but have lost 44% of their value since the start of the year.

Source: The North Africa Journal October 17, 2024 04:26 UTC