By Giulio Piovaccari and Nora Eckert MILAN/DETROIT (Reuters) -Stellantis Chief Executive Carlos Tavares resigned abruptly on Sunday, two months after a profit warning at the maker of Jeep, Fiat and Peugeot cars that has lost around 40% of its value this year.

The global automaker’s sales in North America declined over the past year because of high-cost models that dealers struggled to sell.

Stellantis N.V. CEO Carlos Tavares resigned abruptly on Monday amid faltering U.S. sales and looming trade pressures, ending his tenure at one of the world's largest automakers as it grapples with industry-wide challenges.