Multinational auto giant Stellantis has reported a significant decline in both revenue and stock prices in 2024, as the automotive markets in Europe and the United States have entered a slump this year.
Italy, an important production base for Stellantis, is now facing challenges of reduced capacity and layoffs.
Stellantis' Atessa plant, located in central Italy, is the largest light commercial vehicle production base in Europe, producing around 230,000 vehicles last year.
The plant has been continuously reducing production this year, and a third of the employees have been on leave at home since June.
"From producing a maximum of 1,200 vehicles per day in the past, to producing less than 1,000 vehicles per day now, we are currently receiving guaranteed wages. This situation is expected to continue until January 2025," said an employee named Romeo Pasquarelli.
For the manufacturer's Cassino plant, also located in central Italy, it has experienced an even more severe reduction in production.
Data shows that in the first nine months of this year, the plant's output was less than 20,000 vehicles, a 50 percent decline compared to last year, marking a historic low.
In the first half of this year, Stellantis's profits were halved compared to the same period last year, with third-quarter deliveries in Europe and North America declining by 17 and 36 percent, respectively.
As a result, all of Stellantis's factories in Italy experienced reduced production this year.
At the same time, the production of passenger cars and commercial vehicles by Stellantis in Italy decreased by 40.7 percent and 10.2 percent, respectively in the Jan-Sept period this year.
Some analysts say that if Stellantis does not increase its production in Italy, some 25,000 people may face unemployment in the short term.
Stellantis announced on Dec 18 that it will increase investment in Italy in 2025, while promising that all Italian plants will have plans to produce new models by 2032.
"(Stellantis's plan) will not solve all the problems, but the Italian government places great importance on the automotive industry because it is one of the symbols of Italian manufacturing," said Mayor of Piedimonte San Germano Gioacchino Ferdinandi.
Stellantis reports disappointing 2024 performance amid European, US market slump
Stellantis reports disappointing 2024 performance amid European, US market slump
Stellantis reports disappointing 2024 performance amid European, US market slump
Museums across China launched themed exhibitions and a series of cultural activities during the just-concluded Spring Festival, garnering more than 72 million visits in the eight-day holiday season.
The Spring Festival, marking the start of the Chinese New Year, is the most important public holiday in China. The official Spring Festival holiday season this year ran from January 28 to February 4.
According to preliminary statistics from the State Administration of Cultural Heritage, from the first to the seventh day of the Chinese New Year, namely from January 29 to February 4, museums across the country received 72,648,700 visits, with the average daily number of visits exceeding 10 million, an increase of 12.84 percent over the corresponding period of the previous year.
In Shenyang City of northeast China's Liaoning Province, the Liaoning Provincial Museum handled 116,400 visits during the holiday, an increase of 19.33 percent over the same period of last year. The highlight of the museum is an 8,000-year-old cylindrical pottery jar which has the earliest known snake pattern in China's history.
The Chinese Archaeological Museum in Beijing launched an exhibition showcasing the achievements in scientific research in archaeology and heritage protection, focusing on ancient pottery and jade wares unearthed. The exhibition displays more than 100 important cultural relics including painted pottery of Majiayao culture, an ancient Chinese culture dating back more than 5,000 years.
The National Museum launched a New Year cultural exhibition, which includes the display of national treasure Fu Hao's owl-shaped zun, a Bronze ware from the Shang Dynasty (1600-1046BC), and other cultural relics closely related to the Spring Festival.
"The snake pattern on the owl's wings symbolizes a skyrocketing force which gives it more power," said Zhuge Yingliang, an associate research curator at the National Museum of China.
In Zhengzhou City of central China's Henan Province, the Henan Provincial Museum launched special performances featuring the play of ancient music using bone flutes and chime bells restored from cultural relics, and the hall of every performance was packed with visitors.
"The performances give us a refreshing feeling. For children, the resonance has further stimulated their interest in history and culture. This trip is very worthwhile," said Wang Minyi, a visitor at the museum.
During the holiday, museums across the country also adopted new measures to facilitate visits, including extending opening hours and increasing the number of cultural lecture sessions.
Chinese museums attract visitors with special exhibitions, performances during Spring Festival
