Read more at The Guardian.
Vauxhall owner warns on profits amid falling sales and tougher Chinese competition
Stellantis slashes double-digit growth forecast with Aston Martin maker also warning of problems as car industry’s woes deepen
The owner of Vauxhall, Fiat and Peugeot has issued a profit warning, blaming a hit to sales from a deterioration in the global automotive market and increased competition from Chinese rivals.
Stellantis shares plunged by 14% on Monday after it said it expected profit margins to be between 5.5% and 7% for the year, down from the previous forecast of double-digit growth.
Continue reading...Date: |
-
Business - Financial Times
Stellantis and Aston Martin shares fall sharply on profit warnings
Forecast cuts are the latest from European carmakers facing Chinese competition and weak home market demand2 hours ago -
Business - CNBC
Stellantis and Aston Martin shares drop sharply after profit warnings amid China woes
Stocks of European carmakers hemorrhaged early on Monday as Stellantis and British luxury brand Aston Martin issued profit warnings.3 hours ago - China -
Business - CNBC
Ford aims to boost EV sales, address owner concerns with new benefits program
The "Ford Power Promise" program begins Tuesday for customers who purchase or lease a new Ford EV such as the F-150 Lightning or Mustang Mach-E.1 hour ago -
Business - MarketWatch
Chrysler, Jeep maker issues big profit warning as it plans to slash U.S. inventory
Chrysler’s parent company Stellantis on Monday said it’s accelerating an inventory reduction program as it issued a massive downgrade to its financial guidance.2 hours ago
More from The Guardian
-
World - The Guardian
Middle East crisis live: Israel’s defence minister hints at Lebanon ground invasion as Hezbollah deputy says group will fight on
Yoav Gallant tells border troops ‘we will use all our capabilities – including you’ . . See all our coverage from the Middle East Living in Lebanon: how have you been affected? Here is the ...31 minutes ago - Israel -
World - The Guardian
Kamala Harris’s economic policy slate more popular than Trump’s – poll
Exclusive: Harris Poll for Guardian finds Democrat put forward four of top five most popular economic proposals. Kamala Harris’s economic policies proved far more popular than Donald Trump’s plans ...3 hours ago - Kamala Harris -
World - The Guardian
Russia-Ukraine war live: Putin says Russia will achieve ‘all goals set’ as 11 Ukrainian regions hit in drone attack
Russian forces have now launched the highest number of drone strikes in a single month since the conflict began in February 2022. A single Russian ship, carrying Kalibr missiles, continues its ...1 hour ago - Ukraine -
World - The Guardian
Wilders and Orbán congratulate Austria’s far-right Freedom party on poll success – latest updates
Dutch and Hungarian politicians among those hailing result for pro-Kremlin, anti-Islam FPÖ. Karl Nehammer , Austria’s chancellor, called the result, which will send shock waves through Europe, ...39 minutes ago -
World - The Guardian
Japan’s incoming prime minister Shigeru Ishiba to call snap election – reports
The 67-year-old will seek an early public mandate after seeing off a rightwing challenge to become the leader of the ruling Liberal Democratic party. Japan’s incoming prime minister Shigeru ...10 hours ago - Japan