Stellantis revises 2024 financial outlook amid North American performance issues

globenewswire.com — September 30, 2024 at 06:01 AM UTC

Stellantis has revised its 2024 financial guidance due to increased remediation efforts for North American performance issues and a decline in global market conditions. The company now aims to reduce U.S. dealer inventory to 330,000 units by year-end 2024, earlier than previously planned. The updated guidance includes a projected adjusted operating income margin of 5.5% to 7.0%, down from a previous expectation of double digits. Industrial free cash flow is now expected to be between -€5 billion and -€10 billion, a shift from a positive outlook. These changes reflect a significant increase in vehicle shipment declines and heightened competition, particularly from China. Stellantis is implementing various initiatives to improve productivity and address these challenges.

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Timeline:

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[4.4]

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[3.9]

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[4.2]

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[4.0]

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[4.6]

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[4.2]

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[4.5]

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[4.2]

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[4.0]

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164d 15h

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