Stellantis slashes double-digit growth forecast with Aston Martin maker also warning of problems as car industry’s woes deepenBusiness live – latest updatesThe owner of Vauxhall, Fiat and Peugeot has issued a profit warning, blaming a hit to sales from a deterioration in the global automotive market and increased competition from Chinese rivals.Stellantis shares plunged by 14% on Monday after it said it expected profit margins to be between 5.5% and 7% for the year, down from the previous forecast of double-digit growth. Continue reading…
Source link : https://www.theguardian.com/business/2024/sep/30/vauxhall-owner-warns-on-profits-amid-falling-sales-and-tougher-chinese-competition
Author : Jack Simpson
Publish date : 2024-09-30 12:45:00
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