Stellantis CEO Carlos Tavares resigned amid dwindling sales, with the automaker’s third-quarter revenue down 27% as competition rises and product launches falter.
Stellantis recently reported a 27% dip in net revenues for its third quarter, with all regions except South America facing double-digit revenue declines.
North America's revenue plummeted 42%, contributing to the automotive giant's struggles with unsold vehicles and challenges in product launches.
Tavares' departure follows criticism from dealers and the United Auto Workers union due to the dismal financial performance of Stellantis.
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