Stellantis to halt production in Turin in December due to weak demand for Fiat 500 EV

Published 11/27/2024, 09:50 AM
Updated 11/27/2024, 10:56 AM
© Reuters. FILE PHOTO: Workers install a flag with the logo of Stellantis at the main entrance of FCA Mirafiori plant in Turin, Italy, January 18, 2021. REUTERS/Massimo Pinca/File Photo
STLAM
-
STLAM
-

MILAN (Reuters) -Stellantis will again halt auto production at its historic Italian Mirafiori plant from Dec. 2 to Jan. 5 due to continuing poor sales for the electric Fiat (BIT:STLAM) 500 city car made there, the automaker said on Wednesday.

Reuters had reported earlier this month that trade unions were expecting another production stoppage at the factory, based in Fiat's hometown of Turin in north-west Italy, for the entire month of December.

"The reason is the continuing uncertainty in sales of electric cars in several European markets, which account for 97% of Mirafiori's production, and luxury cars in some non-European countries such as China and the United States", Stellantis (NYSE:STLA) said in a statement.

© Reuters. FILE PHOTO: Workers install a flag with the logo of Stellantis at the main entrance of FCA Mirafiori plant in Turin, Italy, January 18, 2021. REUTERS/Massimo Pinca/File Photo

The Franco-Italian automaker said it told unions that assembly operations would be halted during Dec. 2-Dec. 17, adding to a previously agreed closure of the plant for end-year holidays during Dec. 18-Jan. 5.

Car assembly operations at Mirafiori, which also produces two low-volume Maserati sports cars, restarted in November after multiple stoppages this year due to soft market demand, in particular for EVs.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.