Strikes in US plants cause $3.2B loss for Stellantis
Stellantis' revenue up 7% year-on-year in Q3
FILE PHOTO
BERLIN
Stellantis, the world's third-largest vehicle manufacturer, reported that the prolonged strikes that have restricted production at its North American plants in recent weeks have cost approximately €3 billion (some $3.2 billion) in lost revenue.
Announcing its financial results for the third quarter of the year on Tuesday, the company said its third quarter revenue rose 7% year-on-year to €45.1 billion, beating estimates of €43.7 billion.
Six weeks of strikes in the US over wage increases caused a €3 billion decline in Stellantis' revenue.
After more than a month of strikes against the three major car manufacturers Ford, GM and Stellantis in the US, Stellantis Group signed a tentative agreement with the United Auto Workers Union (UAW) last week.
*Writing by Gokhan Ergocun from Istanbul
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