Shares in Jeep-maker Stellantis and Britain's Aston Martin tumbled on Monday after both companies joined European rivals in cutting their profit forecasts. - China effect - Aston Martin also cited the Chinese market as it trimmed its financial guidance for 2024, saying its core profit is now expected to be "slightly below" the previous year's.

Shares in Jeep-maker Stellantis and Britain's Aston Martin tumbled on Monday after both companies joined European rivals in cutting their profit forecasts.

Shares in Jeep-maker Stellantis and Britain's Aston Martin tumbled on Monday after both companies joined European rivals in cutting their profit forecasts. - China effect - Aston Martin also cited the Chinese market as it trimmed its financial guidance for 2024, saying its core profit is now expected to be "slightly below" the previous year's.

Stocks of European carmakers hemorrhaged early on Monday as Stellantis and British luxury brand Aston Martin issued profit warnings.

Shares in Stellantis tumbled in Milan on Monday after the Chrysler, Peugeot and Jeep maker became the latest auto manufacturer to scale back vehicle delivery forecasts this year.

Stellantis is taking measures to reduce the number of vehicles sitting on dealers' lots to 330,000 cars by the end of the year.

Stellantis shares are tumbling Monday after the Chrysler and Jeep parent issued a profit warning, noting it is cutting excess North American inventory amid a "deterioration in global industry dynamics" and competition from Chinese rivals.

Aston Martin warned of lower annual profit and cut its production forecast on Monday (Sep 30) on supply chain challenges and dogged weakness in China, sending shares as much as 28 per cent lower and raising questions around its future ambitions. The British luxury carmaker joined other European peers in fl