Shares of Stellantis (STLA) are falling after the automaker issued a warning about deteriorating conditions in the global auto industry after cutting it's 2024 full-year outlook. To address these challenges, Stellantis plans to implement cost-cutting and discounting measures.

Yahoo Finance autos reporter Pras Subramanian breaks down the details of this development and what it signals about the broader automotive industry.

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This post was written by Angel Smith