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Stellantis (NYSE: STLA)* said today that full year 2024 results were net revenues of €156.9 billion, down 17% compared to 2023. Net profit was €5.5 billion, down 70%. Adjusted operating income of €8.6 billion fell 64%. Industrial free cash flows were negative €6 billion reflecting the decline in income and temporary enlarged working capital impact due to production cuts. However, despite the almost total car wreck, the dividend to common shareholders is proposed at €0.68 per share, representing a 5% yield, pending shareholder approval.
“While 2024 was a year of stark contrasts for the Company, with results falling short of our potential, we achieved important strategic milestones. Notably, we began the rollout of new multi-energy platforms and products, which continues in 2025, started production of EV batteries through our JVs, and launched the Leapmotor International partnership. Stellantis’ dedicated and talented people are driving forward with energy and determination, engaging with key stakeholders and moving decision-making closer to our customers. We are firmly focused on gaining market share and improving financial performance as 2025 progresses,” said John Elkann, Chairman, a large shareholder and the scion of the Fiat family.** Continue reading →
AC GT Roadster Debut at ModaMiami Tomorrow
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AC Cars* said today that it is debuting the AC GT Roadster at ModaMiami at the start of March before it kicks off its first client test drives and viewing appointments in the United States. (Read AutoInformed.com on: AC Cars Revives Cobra GT Coupe and AC Cars Wins Right to AC Cobra Name)
Britain’s oldest active vehicles manufacturer said “it will be showing the iconically styled, but highly advanced, modern sports car to guests at The Biltmore Hotel luxury show, ahead if its initial client engagement events in the US over the following weeks. With the first two years of production already sold, AC cars will also host reception appointments in Miami for the exclusive roadster as it allocates the next round of limited production spaces.” Continue reading →