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Stellantis profit hit by tougher competition from China
['Albertina Torsoli']
Transport Topics
Stellantis' Ram 1500 Revolution electric battery-powered pickup truck at an industry show.
(John Locher/AP)Key Takeaways: Stellantis reported second-quarter adjusted operating income of 293 million euros, missing analyst estimates as competition and pricing pressure intensified in Europe.
CEO Antonio Filosa is pursuing 6 billion euros in annual savings by 2028, investing 60 billion euros through 2030 and reaffirming guidance despite tariff headwinds.
Stellantis targets 6 billion euros in annual savings by 2028 compared to last year’s level.
The automaker said July 30 it’s expecting net tariff headwinds of as much as 1.2 billion euros this year.