Stellantis NV’s third-quarter revenues slumped 27% as the automaker shipped fewer cars from factories in most of its major markets.

Stellantis continued to slash vehicle production and cut jobs in the United States this week, including at the automaker’s Detroit Assembly Complex.

China’s BYD Co. reportedly is hiring the former U.K. chief of Stellantis NV as the EV maker builds a team of European executives to lead its expansion in the region.

Ram brand sales are up 35% to 40% so far in October, Ram and Chrysler CEO Chris Feuell said at a Reuters automotive conference in Detroit Oct. 22.

Stellantis, formed from the 2021 merger of France’s PSA Peugeot and Fiat Chrysler Automobiles, has faced challenges this year in both Europe and the U.S.

Demand for electric vehicles is showing signs of recovering as prices for plug-in models are coming down, according to Stellantis NV and Renault SA.

Stellantis announced a number of significant leadership changes, including the timing of CEO Carlos Tavares’ retirement as it struggles to revive sales in North America.

Stellantis CEO Carlos Tavares may present his proposal at a board of directors meeting in the U.S. this week, said the people, who asked not to be identified discussing confidential information.

Stellantis NV is suing the United Auto Workers to prevent a possible strike stemming from a dispute about promised investments at its U.S. assembly plants.

In his first public comments since Stellantis confirmed it had started searching for his successor, CEO Carlos Tavares signaled he’s open to leaving the automaker just over a year from now.