Stellantis, the world's fourth-largest automaker, announced that it anticipates a 20% year-over-year decline in global vehicle deliveries for the third quarter, totaling approximately 1.15 million units. This decrease surpasses the previously expected sales drop of 15%, due in large part to a strategic shift in product offerings and efforts by dealers to reduce inventory levels.
Additionally, the company projects a 60% decrease in worldwide deliveries for its Maserati brand during the same period. Last month, Stellantis lowered its profit forecast for 2024, citing the need to commit to production cuts and offer substantial discounts to invigorate its U.S. operations. This announcement has led to a significant drop in the company's market value, shedding billions of dollars.
