Stellantis can exceed €2.4 billion cost-savings target, CEO says
Stellantis can exceed €2.4 billion cost-savings target, CEO says MILAN, Oct 28 (Reuters) - Stellantis STLAM.MI is confident it can exceed its cost saving target for next year, supporting cash flow generation in 2027, CEO Antonio Filosa said on Wednesday, as he presented the automaker's third-quarter results.
Earlier this year, Filosa introduced a group-wide efficiency and cost-cutting plan aiming to deliver a total of €6 billion ($6.7 billion) in cost savings by 2028.
"We firmly believe that we will exceed our initial milestone to produce €2.4 billion of cost savings in 2027. We will exceed that milestone, which is very good," he told reporters after the company posted a rise in third-quarter operating income.
Earlier on Wednesday Stellantis said it was on track to implement at least 40% of the total €6 billion in run-rate efficiencies by the end of 2026.
($1 = 0.8993 euros)
(Reporting by Giulio Piovaccari, editing by Gianluca Semeraro)