Stellantis, the maker of Jeep and Ram vehicles,turned in another troubling sales report for the U.S. market.
The big picture: The financial struggles of Europe's No. 2 automaker are rooted in its flagging performance on this side of the pond.
The company today said it delivered just over 305,000 vehicles in the U.S. in the third quarter, down 20% from a year ago.
Sales across its biggest brand, Jeep, fell 6% in Q3, and are down 8% year to date.
Sales of its best-selling model, Ram pickups, fell 19% in the quarter, widening the gap with its rival Ford F-Series pickups, where sales grew 4.2%.
The impact: Stellantis' U.S. shares slid slightly, but they had already dropped 13% Monday after the company slashed its 2024 profit outlook, citing issues in the U.S.
