Earnings

Jeep, Dodge-maker Stellantis’ profit slides as Detroit Three strikes bite

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(L-R) United Auto Workers (U.A.W.) members Kaleb Delfine, Bryan Broecker, Michael Gatto and James Triplett picket outside the Jeep Plant on September 18, 2023 in Toledo, Ohio.

Sarah Rice | Getty Images

Global auto giant Stellantis on Thursday reported a 10% year-on-year fall in profit in the second half of 2023, as six-week strikes at the so-called Detroit Three automakers hampered production in the group’s North American profit epicenter.

Adjusted operating income came in at 10.2 billion euros ($10.96 billion) for the July-to-December period, down from 11.3 billion euros for the same period in 2022.

However, the earnings proved more resilient to the impact of industrial action than the…



Source cnbc.com

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