Dodge-maker Stellantis drops profit warning

Stellantis, the conglomerate behind brands like Chrysler and Jeep, has adjusted its 2024 annual guidance due to tough competition and worsening global industry conditions, causing its shares to drop. The company now expects lower sales and a decreased operating income margin, leading to a negative industrial free cash flow projection. This news follows similar profit warnings from other automakers like Volkswagen. The situation is evolving, and updates will be provided as more information becomes available.