A new Jeep model is parked in the parking lot of a Dodge Chrysler-Jeep Ram dealership on October 3, 2023 in Miami, Florida.
Joe Reddell | Getty Images News | Getty Images
Auto giant Stellantis on Thursday reported a sharp drop in first-half net profit due to lower sales, a temporary production gap and a decline in North American market share.
The company, which owns household names such as Jeep, Dodge, Fiat, Chrysler and Peugeot, reported first-half net profit of 5.6 billion euros ($6.07 billion), down 48% from the same period in 2023.
Stellantis’ adjusted operating income for the first six months of 2024 was 8.5 billion euros, a year-on-year decrease of 5.7 billion euros, mainly due to the decrease in North American operations.
This breaking news story is being updated.
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