Stellantis: CEO Tavares calls H1 2024 a “bump in the road”

Stellantis is the latest major automaker to post less than stellar Q2/H1 2024 results. On 25 July, the automaker’s report stated that net revenue is down 14% year-on-year to €85bn (US$92bn), and net profits have fallen 48% to €5.6bn.

The results continue a downward trend seen in the previous quarter, where revenue fell 11.7% to €41.7bn and consolidated and non-consolidated sales dipped 9.6% and 10.9%, respectively. Reduced activity in North America has been a significant factor: shipments, net revenue, and operating income in that market were all down, which Stellantis variously attributed to lower volumes, discontinued product lines, and negative net pricing.