AutoExec Summary
Stellantis-owned luxury car-maker Maserati reported an operating loss of over €82 million in the first half of 2024, prompting Stellantis CEO Carlos Tavares to address weak margins and high inventory. The company, formed in 2021 from the merger of PSA Group and Fiat Chrysler Automobiles, saw income drop by 40% to €8.5 billion. Tavares stated that underperforming brands could be shut down, with analysts predicting Maserati, DS, and Lancia may be sold off. Stellantis shares fell 12.5% in response.
Brands mentioned: Maserati, Fiat, Peugeot, Citroen, Jeep, PSA Group, Fiat Chrysler Automobiles, DS, Lancia.
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