MILAN — Automaker Stellantis said Tuesday that the autoworkers strike in North America is expected to cost the company around 750 million euros in profits — less than its North American competitors.reported a 7% boost in net revenues to 45.1 billion euros, with production halts caused by the strikes costing the company 3 billion euros in sales through October. The net revenue boost was due to higher volumes in all markets except Asia.
Chief Financial Officer Natalie Knight told journalists that Stellantis’ strike impact was lower than the other Big Three automakers due to its global profile as well as some high-profile cost-cutting measures,“We continue to be in a very strong position globally and in the U.S. This is an important market for us, and we’re highly profitable and we are very committed to our future," Knight said. “But mitigation is core to how we act, and how we proceed.
Stellantis does not report full earnings for the third quarter, instead providing shipments and revenues. It said that global sales ofNorth America continued to be the revenue leader, contributing 21.5 billion euros, an increase of 2% over last year, and representing nearly half of global revenues. Europe, the next biggest performing region, saw revenues grow 5% to 14 billion euros, as sales rose 11%.
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