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.

Stellantis's stock, tumbled 6.3% to its lowest level in more than two years after boss Carlos Tavares (pictured), dramatically resigned on Sunday.

THE boss of a major carmaker has sensationally stepped down – leaving the company’s future in an uncertain position. Chief Executive Carlos Tavares quit as the head of Motoring giants

Just nine months ago, Carlos Tavares looked like one of the most unassailable chief executives in the automotive business.

Carlos Tavares' abrupt exit comes two months after Stellantis issued a profit warning. Last week, the firm also announced plans to close its Vauxhall van making factory in Luton,