Stellantis reports Q3 revenue EUR 33B vs. EUR 45.1B last year

Reports Q3 consolidated shipments of 1.15M were down 279,000 or 20% year-over-year. The company said, “While Q3 2024 performance is below our potential, I’m pleased with our progress addressing operational issues, in particular U.S. inventories, which have been reduced meaningfully and are on track for year-end targets, as well as stabilization of U.S. market share. In Europe, stringent quality requirements delayed the start of certain high-volume products, but with progress resolving challenges we will soon benefit from the significantly expanded reach our generational new product wave brings to 2025 and beyond.”