Stellantis NV Chief Executive Officer Carlos Tavares is stepping down after profit slumped and US sales weakened at the maker of Jeep SUVs and Fiat cars, according to people familiar with the situation.

When 24-year-old Elena Aragon set out to buy a new car, she reviewed a range of no-frills brands in her home town of Cadiz, Spain, including Stellantis' Fiat and Peugeot.

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Carlos Tavares, who had been under fire and was expected to leave at the end of his contract, resigned abruptly on Sunday.

Stellantis CEO Carlos Tavares is stepping down after nearly four years in the top spot of the carmaker that owns brands like Jeep and Ram and Citroën and Peugeot

(Reuters) -Shares in Stellantis slumped as much as 8.9% on Monday, hitting their lowest in more than two years, after CEO Carlos Tavares resigned abruptly on Sunday, deepening investors' worries about the turnaround of the world's No.

By Giulio Piovaccari, Alessandro Parodi and Inti Landauro MILAN (Reuters) - When 24-year-old Elena Aragon set out to buy a new car, she reviewed a range of no-frills brands in her home town of Cadiz,