(Reuters) – Stellantis (NYSE:) expects a 20% annual decline in consolidated deliveries to 1.15 million units worldwide in the third quarter, the automaker said on Wednesday.
This is a steeper decline than the forecast 15% underlying sales decline due to portfolio changes and dealer inventory reduction initiatives, the statement said.
It expects third-quarter consolidated Maserati deliveries at its Maserati division to decline 60% to 2.1 million worldwide.
The automaker cut its 2024 earnings forecast in September and warned it would burn more cash than expected as it promised to cut production and offer deep discounts to revive its U.S. business, wiping billions off its market value.
