Stellantis: reduction of targets for 2024

(CercleFinance.com) - Stellantis says it has reduced its 2024 targets to take account of its decision to amplify its actions to correct performance problems in North America, as well as the deteriorating dynamics of the global automotive sector.


The automaker now anticipates a current operating margin for the current year of between 5.5 and 7% (no longer 'double-digit'), as well as industrial free cash flow of between -5 and -10 billion euros (no longer 'positive').

Stellantis explains that it has accelerated the plan to normalize inventory levels in the USA, aiming to have no more than 330,000 vehicles at dealerships by the end of 2024, instead of the initial target of the first quarter of 2025.

It adds that the deterioration of the sector context is marked by a market forecast for 2024 down on the start of the year, even though competition has intensified due to increased supply and heightened Chinese competition.

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