Stellantis Says It Is Showing Signs Of Progress But Road Will Be Bumpy

Stellantis NV said Thursday its third-quarter revenue rose 13% to $43.2 billion (37.2 billion euro) as the company saw "early signs of commercial progress" after a recent string of poor sales and financial results.

 

But the maker of Chrysler, Dodge, Jeep and Ram vehicles also warned of new one-off costs as it recalibrates its business strategy under a new CEO, and as it grapples with other political, economic and regulatory challenges. New York-listed shares of Stellantis closed down 9.5% Thursday and in Milan they were down similarly on the news.