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Stellantis expects North American strike to cost it 750 million euros in third-quarter profits
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FILE - A Stellantis logo is shown at the North American International Auto Show in Detroit, Sept. 13, 2023. Automaker Stellantis said Tuesday, Oct. 31, that the autoworkers strike in North America is expected to cost the company around 750 million euros ($795 million) in profits, though less than its North American competitors. - photo by AP Photo/Paul Sancya, File
MILAN (AP) — Automaker Stellantis said Tuesday that the autoworkers strike in North America is expected to cost the company around 750 million euros ($795 million) in profits —less than its North American competitors. The Europe-based maker of Jeep, Fiat and Peugeot reported a 7% boost in net revenues to 45.1 billion euros, with production halts caused by the strikes costing the company 3 billion euros in sales through October. The net revenue boost was due to higher volumes in all markets except Asia.