Stellantis and Aston Martin Lower 2024 Profit Outlooks, Warn of Lower Profits Amid Supply Chain Issues and China Slowdown

Benzinga

Shares of European automakers plunged Monday after Stellantis and Aston Martin issued profit warnings. Stellantis slashed its 2024 guidance due to worsening global dynamics and competition from China. Stellantis reduced its expected operating income margin and free cash flow projections, citing performance challenges in North America. Aston Martin cut its profit margin and production targets, citing supply chain disruptions and China's economic weakness. Both companies experienced sharp stock declines in early trading on Monday.

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00:00It's Benzinga and here's what's on the block.

00:03Shares of European automakers plunged Monday after Stellantis and Aston Martin issued profit

00:08warnings.

00:09Stellantis slashed its 2024 guidance due to worsening global dynamics and competition

00:14from China.

00:15Stellantis reduced its expected operating income margin and free cash flow projections,

00:20citing performance challenges in North America.

00:23Aston Martin cut its profit margin and production targets, citing supply chain disruption and

00:27China's economic weakness.

00:29Both companies experienced sharp stock declines in early trading on Monday.

00:33For all things money, visit Benzinga.com.

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