Monday, December 11, 2023

Stellantis lost 3 billion in the US motor strike

It announced 143,000 million euros in sales through September on the same day it began negotiating the agreement for 6,000 workers in Vigo

October 31, 2023 . Updated at 1:55 pm

The agreement in principle reached this past week between the motor giants and the UAW and Unifor unions has ended to a six-week strike supported by more than 14,000 of its workers in Michigan and Ohio. The conflict ended with significant losses for manufacturers, including Stellantis (a group that emerged from the merger between PSA, Opel and FCA) which this morning reported that it lost net income due to this strike which is worth 3,000. million euros.

This is a small break in the results of the third quarter for the group led by Carlos Tavareswhich during this period reached a turnover of 45.1 billion euros, which is 7% more compared to the third quarter of 2022. In the first nine months of this year, it recorded a turnover of 143.5 billion euros , what does it mean a 10% increase compared to the same period last year,

Natalie Knightfinancial director of Stellantis, explained in a statement that the founder’s income was increased by the increase in sales volume, which translated into an increase in deliveries of 10%, up to 4.8 million unitsIn the first nine months of the year, these sales reached 127,000 vehicles and revenue fell to 2,691 million, 38% less than a year ago.

Stellantis highlighted the growth in sales of its electric vehicles. Driven by brands like Jeep, Citron, Peugeot and Fiat, grew 37% during the third quarter compared to the same period last year. Among the electric best-sellers, the Citron e-Berlingo stands out, manufactured at the Vigo plant.

At the same time that Stellantis announced these results, the negotiation of new collective agreement at the Galician plant. The unions began with the intention that the agreement considers the improvement of the economic and social conditions of a workforce of more than 6,000 workers.

Filed under: Stellantis Strike Vigo city Employment Jeep

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