Shares in Vauxhall owner Stellantis tumble after top boss quits abruptly - The car-making giant announced plans last week to shut its Luton van-making factory next April, putting more than 1,100 jobs at risk.

The boss of Stellantis has resigned after overseeing a sharp drop in car sales, as the Vauxhall owner struggles with the shift to electric vehicles.

Carlos Tavares is stepping down as Chief Executive Officer of Stellantis, effective immediately, following a sharp decline in the carmaker’s sales. As the Wall Street Journal notes, in July, the company reported that its net profit for the first half of the year had dropped by 48 percent compared to 2023.