Stellantis, the parent company of Chrysler, announced on Monday an acceleration of its U.S. inventory reduction plan along with a significant downward revision of its financial guidance.
The company has unveiled a strategy to reduce its U.S. inventory levels to no more than 330,000 vehicles by the end of next year, starting from the first quarter. Currently, Stellantis anticipates a shipment decline of over 200,000 units in North America for the second half of the year, surpassing the earlier expectation of 100,000 units.
This adjustment comes as Stellantis plans to increase incentives for 2024 models and older vehicles, and also aims to cut costs and production capacity.
