Stellantis cuts inventories, pricing to improve North American business

Chrysler-parent Stellantis is seeking to strengthen its positioning in North America by slashing its bloated inventories and cutting vehicle prices, the group's finance chief said on Monday. The automaker is aiming to cut 100,000 vehicles from its U.S. inventories by the start of next year, and has already reduced about 40,000 units in July and August, Chief Financial Officer Natalie Knight said at a BofA Securities virtual conference. “We are living in very difficult times where there are going to be winners and losers, and a lot about being the winner is being the last man standing," Knight said, adding that discipline on pricing and inventory would be a core part of the automaker's strategy to weather the bumpy transition to electric vehicles.