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"I see this not as a profit warning but as an investment warning. This is us taking our profitability down to invest into the company."

His abrupt exit from the company - which owns brands including Vauxhall, Jeep, Fiat, Peugeot and Chrysler - came two months after Stellantis issued a profit warning.

Carlos Tavares' abrupt exit comes two months after Stellantis issued a profit warning.

The share price of Stellantis, the owner of brands such as Peugeot, Citroen, Fiat and Jeep, also plummeted on Monday after a profit warning.

On Friday, Volkswagen issued its second profit warning in three months, while it has also suggested it might have to close plants in Germany for the first time in its history.