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 last week placed more than 1,000 jobs at risk after announcing plans to close its manufacturing facility in Luton.

Stellantis noted on Sunday that the process to appoint a new, permanent chief executive was 'well under way', but also signalled Mr Tavares’s departure followed a clash in the boardroom

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

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