Stellantis Posts 27% Slump in Q3 Sales; Notes Inventory Cut Progress

KEY TAKEAWAYSStellantis on Thursday reported a 27% plunge in third-quarter revenue but also noted progress in running down the excess inventory buildup in the U.S. that has plagued the Big Three automaker.The company, which recently issued a profit warning, said that third-quarter net revenues were 33 billion euros ($35.8 billion) and that it was on track to deliver around 20 new models this year.Stellantis shares are rising 2.9% in premarket trading but have lost 43% of their value since the start of the y ...