Stellantis’s revenue fell 27 per cent in the third quarter as the group behind the Peugeot, Fiat and Jeep brands suffered sharp sales declines in the US and Europe.
The company said it had reduced its high inventory in North America by 80,000 vehicles in the past four months after its slumping performance there led to a steep profit warning last month.
For the three months to the end of September, Stellantis reported revenue of €33bn compared with €45.1bn a year earlier as shipments fell 36 per cent in North America and 17 per cent in Europe.
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