MILAN, Oct 31 (Reuters) - Automaker Stellantis

said on Thursday its revenues fell by 27%

year-on-year to 33 billion euros in the third quarter, as the

company reported progress on reducing its inventories.

Analysts were expecting revenues of 31.1 billion euros,

according to a Reuters poll.

Stellantis ( STLA ) said total inventory stood at 1.33 million units

as of Sept. 30, down by 129,000 year-on-year. In the U.S., total

inventory at dealer level fell by over 80,000 units between June

30 and Oct. 30, in line with targets, the company said.

Full-year guidance, as updated on Sept. 30, was confirmed,

and the company also said it remained on track to launch

approximately 20 new models over the entire course of 2024.