Stellantis chief executive Carlos Tavares on Sunday resigned "with immediate effect", the auto giant announced, signalling differences over how to confront the group's profit slump. A collector of vintage racing cars,

Stellantis NV Chief Executive Officer Carlos Tavares is stepping down after profit slumped and US sales weakened at the maker of Jeep SUVs and Fiat cars, according to people familiar with the situation.

Stellantis Chief Executive Carlos Tavares has resigned, the automaker said on Sunday, adding it aimed to find a new head in the first half of 2025.