The profits of car giant Stellantis fell by 70% last year due to declining sales, particularly in the critical North American market.
The firm, – whose 14-brand portfolio includes Alfa Romeo, Citroën, Jeep, Maserati, Peugeot and Vauxhall – posted a net profit of €5.5 billion (£4.5bn), a 70% drop from an €18.62bn (£15.45bn) profit in 2023.
Stellantis’s net revenues fell by 17% to €156.9bn (£130bn). The firm cited reduced production in the North American market due to a planned inventory reduction, and delays in the launch of new vehicles for the European market that use its new Smart Car platform.
