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HomeBlack crisis for Stellantis, accounts go down: what happens?

Black crisis for Stellantis, accounts go down: what happens?

What is happening at home? Stellar It looks like one Endless crisiswith group revenues clearly declining in 2024. The company said the third quarter of the year actually closed in the negative in terms of net revenues compared to the same period in 2023. Reasons? Several, including lower delivery numbers and a negative impact on prices and exchange rates.

Stellents down in the third quarter

Not a good time for the Stellartis, which is the perfect recipe for a car market crisis in 2024 for everyone. The accounts of the third quarter, in fact, do not smile on Elcon and Tavares, with a decrease in net income compared to the same period of 2023.

Stellantis, in fact, recorded one Decrease in net income in the third quarter of 2024a period marked by a transition to improved products and stock reduction operations. Looking at the figures, net income declined by 27% compared to last year, mainly due to lower shipments and an unfavorable mix, as well as pricing and foreign exchange effects. Consolidated deliveries for the quarter ended September 30, 2024, however, were 1,148 thousand units, down 20% year-on-year.

“Although third quarter 2024 performance is below our potential, they are. Satisfied with progress in resolving operational issuesStocks in particular in the United States, which have been significantly reduced and are in line with year-end objectives as well as market share consolidation in the same country”, announced the new Chief Financial Officer, Doug Osterman. who recently replaced Natalie Knight.

CFO Stellantis added: “In Europe, our stringent quality requirements have delayed the launch of some high-volume models, but with progress in addressing the challenges, we will soon benefit from significant expansion that Bring the next generation technology wave of products to 2025 and beyond.

Stock market reaction

However, against all odds, the stock market did not react badly to the publication of Stellantis’ account data. Despite a clear loss in revenue compared to 2023, the group started the day on a positive note.

In fact, a report was filed in Piazza Afari. +0.67% to 12.32 eurosWith the title that was a in the afternoon. +2,45% This led to an improvement in the stock market’s early morning results. The results that led to Stellantis being the best of the day. Campari A decrease was recorded in the red that cannot be red (more than -3%).

End of government

The third-quarter results announcement comes after the government attacked Stellenbosch, with Prime Minister Georgia Maloney not holding back in launching a spat with John Elkin. During the Door to doorIn fact, the Prime Minister lashed out at the group manager, accusing him of disrespecting Parliament.

The reason is soon explained, as the executive summons the Italian-American businessman to report to the chamber but the Agnelli heir refuses. Quite a few conflicts.

The Prime Minister said that we are a parliamentary republic… I would have avoided this lack of respect towards Parliament. In a call with the Chamber’s president, Lorenzo Fontana, Elkann reiterated the Parliament’s respect, explaining that “the reaction of the President of the Productive Activities Commission Gusmiroli stems from the restriction of the Chamber’s decision to commit to the government. – Identifying industrial policies in line with the evolution of the automotive sector”.

Elkann then stressed “openness to dialogue with all institutions, as the group has always done in all the countries where it is present, Italy first”.

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