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官方开奖结果体彩网:issued a profit warning, citing "det😼erioration in global industry dynamics" and competition from Chinese rivals.

Shipments during the🌠 quarter by the🅰 Jeep and Chrysler parent fell to about 1.15 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

Shipments als🥃o 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꧟.

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官方开奖结果体彩网:difficult year, as 澳洲幸运5官方开奖结果体彩网:lower-than-expected quarterly results, 澳洲幸运5官方开奖结果体彩网:production pauses, and cuts to its 澳洲幸运5官方开奖结果体彩网:full-year outlook have sent its shares down. 澳洲幸运5官方开奖结果体彩网:Last week, the car maker announced a number of changes at its executive level to "redouble the⛦ company's focus on its key business priorities" and deal with issues facing the auto industry worldwide.

Stell♛antis 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.