Shares of Stellantis (STLA) are plunging in extended-hours trading after the carmaker slashed its earnings forecast, expecting to burn through more cash than anticipated and citing rising competition from China.

Morning Brief Hosts Seana Smith and Madison Mills report more on the story and dive into some of the headwinds facing the auto industry, from inventory issues to competition from lower-priced Chinese vehicles.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Melanie Riehl