Stellantis CEO Tavares defends record in Paris over US crisis

Stellantis (STLAM.MI) CEO Carlos Tavares alternated between defiance and contrition about the company’s turnaround plans during a packed schedule of public events at the Paris auto show following a massive profit warning.

The Sept. 30 warning from the world’s No. 4 automaker shocked investors used to high margins fueled by lucrative US pickup truck and Jeep sales. Stellantis stock is now down nearly 45 per cent year-to-date.

Tavares initially brushed off the US problems as...