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Stellantis earnings nearly halved, leading car industry slump

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Stellantis NV’s earnings plummeted in the first six months of the year, adding to an increasingly bleak outlook for the car industry following a massive drop in sales in the U.S. and Europe for the manufacturer.

The Stellantis NV manufacturing plant in Kragujevac, Serbia. Photographer: Oliver Bunic/Bloomberg --

With shipments in North America falling 18 per cent, Stellantis has decided to bring back some models it had pulled from the U.S. market, including the Dodge Charger, to win some clients back, Chief Financial Officer Natalie Knight said on a call with reporters. Among the problems was Stellantis’ Maserati brand, with shipments dropping by more than half to 6,500 units in the first six months of the year. Knight suggested the company may reconsider what would be “the best home” for the brand, even though for now the group remains focused on driving improvements there.

 

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