05:58 PM EDT, 10/14/2024 (MT Newswires) -- Stellantis ( STLA ) is sorting out its sales problems in the US at the right pace after a "risky" marketing plan in Q2 that didn't work, media reports on Monday said, citing Chief Executive Carlos Tavares.

Speaking to reporters at the Paris Motor Show, Tavares also said the automaker's US problems should be fixed by the end of the year, according Reuters report.

US dealer inventory rose to just over 430,000 vehicles in June, although that has dropped by 52,000 in recent months, and the company is trying to bring that below 350,000 by Christmas, an Associated Press report said.

Tavares took responsibility for the bad things that have happened at Stellantis ( STLA ), which emerged in 2021 from the merger of Fiat Chrysler Automobiles and PSA Group. He is set to retire in early 2026 and the company has launched a search for his replacement.

Tavares could not rule out job cuts, while saying that staying profitable amid tough competition from Chinese rivals could require plant closures or offloading brands, Reuters report said.

Stellantis ( STLA ) did not immediately reply to MT Newswires' request for comment.

Price: 13.21, Change: -0.03, Percent Change: -0.23