Tag: automotive industry downturn
Tavares’ Exit from Stellantis Poses Risks for Peugeot and Citroën: What It Means for the Future
Stellantis is grappling with significant challenges amid an automotive industry downturn, experiencing a 50% drop in net profit and a 14% revenue decrease. Despite maintaining a 10% operating margin, leadership…
Michelin Announces Layoffs of 1,200 Workers Due to Vannes and Cholet Plant Closures on November 5, 2024
Michelin plans to close its Cholet and Vannes factories, affecting over 1,200 jobs, due to declining sales in truck and van tires. The company faces challenges from a shrinking new…