Big Three automaker Stellantis (STLA) reported worldwide shipments dropped 20% year-over-year in the third quarter, including a 36% decline in North America amid high dealer inventory levels.

The figures come soon after the maker of Jeep and Chrysler 澳洲幸运5开奖号码历史查询:issued a profit warning, citing "deteriဣoration in global ind🐷ustry dynamics" and competition from Chinese rivals.

Shipments during the quarter by the Jeep and Chrysler parent fell to about 1.1༒5 million vehicles from 1.43 million last year.

The drop in shipments exceeded the 15% decline in Stellantis' third-quarter underlying sales due to a shifting product portfolio and moves by car dealers to lower their inventories.

South America Only Region To See Shipments Gain

Shipment🦂s also fell in the Europe; Middle East and Africa; and China, India, and Asia Pacific regions, with South America the lone area to register a gain.ꦏ

Still, Stellantis' market share in the U.S. rose to 8% in September from 7.2% in July.

Stellantis has had a 澳洲幸运5开奖号码历史查询:difficult year, as 澳洲幸运5开奖号码历史查询:lower-than-expected quarterly results, 澳洲幸运5开奖号码历史查询:production pauses, and cuts to its 澳洲幸运5开奖号码历史查询:full-year outlook have sent its shares down. 澳洲幸运5开奖号码历史查询:Last week, the car maker announced a numbඣer of changes at its executive level to "redouble the company's focus on its key business priorities" and deal wiওth issues facing the auto industry worldwide.

Stellantis shares were up 1% at $13.08 soon after the opening bell Wednesday but have lost 44% of their value since the start⭕ of the year.