Stellantis Downgraded Again As Stock Price Weakness Continues
Leapmotor at the 2024 Paris Motor Show. The TO3 is being assembled in Poland by Stellantis. (Photo … [+]
Troubled multi-brand Stellantis, undermined by U.S. inventory problems, a management shakeup, and a profit warning, was downgraded again Wednesday by a credit rating agency, and its shares have now fallen more than 50% since March.
Stellantis, an investor favorite at the start of 2024, has come under increasing stock market pressure, initially because of the inventory buildup in the U.S. at its Jeep and RAM brands. This was followed by a management shakeout in the U.S. and Europe, and a profit warning at the end of last month.
Stellantis cautioned…
