Stellantis has cut its 2024 profit outlook and warned of higher-than-expected cash burn due to declining U.S. sales and increased competition, particularly from Chinese automakers. The company now expects negative cash flow between €5-10 billion ($5.58-$11.17 billion) and has reduced its profit margin forecast to 5.5%-7%, down from previous double-digit expectations. Stellantis faces high inventory levels and has pledged to offer larger discounts and cut production in the U.S. to address the crisis. This announcement led to a 14% drop in its stock, wiping out €6 billion in market value.