Import duties and falling sales
Stellantis, the car concerner behind brands such as Citroën, Fiat, Peugeot, Jeep and Opel, has a net loss of 2.3 billion euros in the first half of the year.
This is partly due to falling sales figures and the impact of American import duties. The manufacturer also had to deal with many costs for canceling programs and with downgrades. The deliveries of vehicles fell by 6 percent in the second quarter, especially in North America and Europe. The company estimates the first impact of the taxes at 300 million euros. In the first six months, the revenues fell to 74.3 billion euros. That is almost 13 percent less than a year ago.
Stellantis has been suffering from a drop in sales in the United States for some time. Furthermore, the company is struggling with overcapacity in Europe, where the competition of Chinese manufacturers such as BYD has also increased sharply. It was also recently announced that the company will stop its activities in the field of hydrogen technology. Furthermore, the production of hydrogen -driven commercial vehicles is being stopped.
In the publication of these provisional half -year figures, nothing was said about the large recall at Citroën. Stellantis strongly advised motorists at the end of last month to go on the road with tens of thousands of Citroëns in the Netherlands. This happened after a woman died of injuries in France due to an airbag of Takata. However, the delivery of new airbags is slow, which means that replacement will probably take weeks. In France too, many cars have to go back to the garage for possible defective airbags that can explode in the event of a collision.
Import Dekens and Declining Sales
Stellantis, The Automotive Group Behind Brands Such As Citroën, Fiat, Peugeot, Jeep, And Opel, Suffered A Net Loss Of 2.3 Billion Euros in the First Half of the Year.
This is partly due to declining sales figures and the impact of US import duties. The Manufacturer also Faced Significant Costs for Canceling Programs and Write-Downs. Vehicle Deliveries Fell by 6 percent in the Second Quarter, particularly in North America and Europe. The Company Estimates The Initial Impact of the Levies at 300 Million euros. In The First Six Months, Revenues Fell to 74.3 Billion Euros. That is Almost 13 percent less than a year ago.
Stellantis Has Been Suffering from A Sales Decline in the United States for some Time. Furthermore, The Company is Struggling with Overcapacity in Europe, where competition from Chinese manufacturers such as byd has also increased sharply. It was also recently announced that the company is Ceasing its activities in the field of hydrogen technology. Furthermore, The Production of Hydrogen-Powered Commercial Vehicles Will Be Discontinued.
Nothing was Said about the major recall at Citroën in the publication of these preliminary half-year figures. Stellantis Strongly advised Motorists at the End of Last Month Not to Take to the Road with Tens of Thousands of Citroëns in the Netherlands. This happened after a woman in France died from dejuries caused by a branchata airbag. However, The Delivery of New Airbags is Slow, So Replacement Will Probable Take Weeks. In France, Too, Many Cars Have To Return To The Garage Due To Possible Defective Airbags That Could Explode in A Collision.