Inventory and Sales Challenges
plans to reduce shifts at the Toledo South Assembly plant, affecting about 1,100 workers, to address high inventory levels and declining sales of the Jeep Gladiator.
The company's dealer inventory soared to over 430,000 vehicles, with a 20% sales drop in the third quarter, contrasting with a slight industry-wide sales increase.
Financial and Labor Relations Impact
Stellantis reported a 27% drop in net revenues for Q3 2024, facing criticism from dealers and the UAW over high-priced vehicles and production issues.
The UAW has threatened strikes due to delays in plant reopenings, with Stellantis offering buyouts and planning to cut costs through various measures.