North American business "lagging behind" Stellantis (STLA.US) forecasts a 9% year-on-year decline in Q4 car shipments.

Stellantis (STLA.US) announced on Thursday that its total shipments in the fourth quarter are estimated to be 1.395 million vehicles, a 9% decrease compared to the same period last year. Due to the end of inventory reduction actions and the introduction of new products to the market, shipments in the fourth quarter have improved compared to a 20% decrease in the third quarter. By region, shipments in North America decreased by 28% year-on-year, while shipments in Europe decreased by 6% year-on-year. The automaker has taken measures to reduce excess inventory in the United States and introduce next-generation products in Europe. So far this year, Stellantis' stock price has fallen by 2.3%, with a cumulative decline of 40% last year.