Wednesday, October 16, 2024
Stellantis will experience a strike on October in Italy due to its declining output.
As the automotive sector faces an 80-day inventory surge, dealerships nationwide brace for weakened demand. Reports revealed Cox Auto data highlights a 38% rise in January's days' supply. Stellantis responds by pledging to trim inventory by 30%, employing incentives and price adjustments, echoing broader market trends.
Stellantis targets double-digit profit margins in 2024, despite facing higher labor costs in North America. A 10% fall in operating profit during the latter half of 2023, mainly due to strikes at its key profit-generating North American facilities, challenges its outlook. Meanwhile, Stellantis revealed potential job cuts at its Warren Truck Assembly Facility, adding to the firm's strategic adjustments amid industry upheavals.
Stellantis has announced its North American brands will adopt Tesla's electric vehicle charging plug, the SAE J3400 connector, signaling a major shift towards standardized charging. This move, set for 2025, aligns with the IONNA initiative to create 30,000 fast-charging stations across North America by 2030, enhancing the charging infrastructure for all electric vehicle brands.
