Jeep, Dodge-maker Stellantis experiences 48% drop in first-half revenue

Auto giant Stellantis on Thursday reported a steep drop in first-half net profit, citing reduced volumes, temporary production gaps and lower market share in North America.

The company, which owns household names including 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 of 2023.

Stellantis’ adjusted operating income for the first six months of 2024 came in at 8.5 billion euros, down 5.7 billion euros on the year, primarily due to decreases in North America.

This breaking news story is being updated.