Stellantis Reports Profit Warning, Shares Plunge by 14%
Stellantis Shares Plummet
Stellantis, the parent company of Chrysler, witnessed a dramatic 14% drop in its share prices during trading in Milan. This alarming decline comes on the heels of a profit warning issued by the carmaker, which has cited declining global sales as a primary reason for adjusting its financial outlook.
Profit Forecast Adjustments
The profit warning aligns closely with recent trends observed within the automotive industry, notably hinted at by Volkswagen. Stellantis now anticipates lower cash flow and profitability for the full year, triggering a ripple effect of concern across the market.
- Shares dropped by 14% in Milan.
- Profit forecasts slashed due to declining sales.
- Industry implications reflect broader market trends.
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