Slow going in the car industry – Stellantis issues profit warning

» Updated: October 01 2024

» Published: September 30 2024

Slow going in the car industry – Stellantis issues profit warning
Photo: Darko Vojinovic/AP/TT

Share this article

Just like many other car manufacturers, the giant Stellantis is flagging that the profit will be worse than expected. The profitability, measured as the operating margin, is estimated to land between 5.5 and 7.0 percent this year, compared to the previous estimate of a two-digit margin.

The reason is, among other things, a general downturn in the global car industry, according to the company management.

Stellantis' brand portfolio includes, among others, Peugeot, Opel, Citroën, Fiat, and Chrysler.

In addition to Stellantis' warning, luxury car manufacturer Aston Martin has also issued a profit warning. The company now estimates that the number of delivered cars during the current year will decrease by what is referred to as "a high single-digit percentage" compared to the previous year.

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

AI in Recruitment: Potential Legal and Financial Risks for Companies
1 MIN READ

AI in Recruitment: Potential Legal and Financial Risks for Companies

HR Managers Overwhelmed by AI-Generated Job Applications
2 MIN READ

HR Managers Overwhelmed by AI-Generated Job Applications

Germany Achieves Gas Storage Goal Two Months Early
2 MIN READ

Germany Achieves Gas Storage Goal Two Months Early

Investigator Recommends Against Reintroducing Cousin Inheritance Rights in Sweden
2 MIN READ

Investigator Recommends Against Reintroducing Cousin Inheritance Rights in Sweden

China's Manufacturing Industry Slows in August Despite Stabilized US Trade Relations
2 MIN READ

China's Manufacturing Industry Slows in August Despite Stabilized US Trade Relations

Court Rules Trump's Trade Tariffs Illegal in Judicial Setback
2 MIN READ

Court Rules Trump's Trade Tariffs Illegal in Judicial Setback

Swedish Electric Boat Maker Candela Expands Production to USA
3 MIN READ

Swedish Electric Boat Maker Candela Expands Production to USA

Dousa on Verdict: Tariffs Likely to Persist Despite Court Ruling
1 MIN READ

Dousa on Verdict: Tariffs Likely to Persist Despite Court Ruling

Rice Trade Dispute Halts US-Japan Customs Talks
1 MIN READ

Rice Trade Dispute Halts US-Japan Customs Talks

Court Rules Most Trump Tariffs Illegal but Allows Temporary Continuation
2 MIN READ

Court Rules Most Trump Tariffs Illegal but Allows Temporary Continuation

Klarna Prepares for New York Stock Exchange Debut
1 MIN READ

Klarna Prepares for New York Stock Exchange Debut

Sanctions Loom for Companies Trading with Russia
1 MIN READ

Sanctions Loom for Companies Trading with Russia

Wall Street Declines After July Inflation Data Released
2 MIN READ

Wall Street Declines After July Inflation Data Released

The Job Market in Sweden is Cooling Down - Significant Differences Between Industries

The Job Market in Sweden is Cooling Down - Significant Differences Between Industries

US Inflation Steady at 2.6 Percent in July
1 MIN READ

US Inflation Steady at 2.6 Percent in July

Extended Nuclear Shutdown Raises Electricity Prices in Southern Sweden
2 MIN READ

Extended Nuclear Shutdown Raises Electricity Prices in Southern Sweden

Price Pressure Reduces Alibaba's Second Quarter Profit
1 MIN READ

Price Pressure Reduces Alibaba's Second Quarter Profit

Ikano Bank Reports Loss Amid 670 Million Kronor Credit Losses
1 MIN READ

Ikano Bank Reports Loss Amid 670 Million Kronor Credit Losses

Norway and US Senator Clash Over Oil Fund's Caterpillar Divestment
1 MIN READ

Norway and US Senator Clash Over Oil Fund's Caterpillar Divestment

Tesla Denied New Charging Stations Amid Swedish Union Strikes
1 MIN READ

Tesla Denied New Charging Stations Amid Swedish Union Strikes