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Stellantis’ın AB Satışları Azaldı, İtalya Üretim Endişesi Artıyor

Stellantis Stocks Decline as Company Faces Challenges in US and

Stellantis Stocks Decline as Company Faces Challenges in US and Italy

Stellantis (STLA) stocks are on the decline on Thursday.

US Sales Decline and Production Concerns in Italy

The automotive manufacturer announced that its total sales in the US for the third quarter of 2024 were 305,294 vehicles, marking a 20% decrease from the same period last year.

According to Matt Thompson, Stellantis’ North America head of US retail sales, an aggressive incentive program launched at the beginning of the third quarter, along with significant competitive updates in August and September, led to a reduction of dealer stocks by over 50,000 vehicles, resulting in a 11.6% decline by the end of the quarter.

Meanwhile, in Italy, the FIM-CISL union reported that Stellantis’ vehicle production would worsen, with overall production falling below 300,000 vehicles and potentially dropping under 500,000 when commercial vehicles are included, which is less than a third of the 2023 volumes.

In order to reach the government’s target of 1 million vehicles by 2030, the Stellantis Group would need to double its production.

Financial Outlook and Stock Performance

STLA stocks have lost over 27% of their value in the past year.

Last month, the company revised its guidance for the 2024 fiscal year, reflecting improvement actions for North America performance and disruptions in the global sector dynamics.

The company lowered its adjusted operating margin forecast for the 2024 fiscal year from previous double-digit growth expectations to a range of 5.5% – 7.0%.

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It also adjusted its industrial free cash flow expectation for the 2024 fiscal year from previous positive cashflow expectations to a range of negative 5 billion euros to negative 10 billion euros.

Conclusion

In conclusion, Stellantis is facing challenges in both the US and Italy, leading to a decline in sales and production concerns. The company’s stock performance has also been affected, with a significant decrease in value over the past year.

This content is based on the data available on the date of publication. Price target forecasts and analyst opinions mentioned in the content are valid as of the publication date. These forecasts and opinions may vary over time. The news on this page and information about the companies mentioned in the news is not within the scope of investment consultancy. The visual images of shares used; including the name of the share, its price, and charts, is illustrative and not investment advice. For detailed information: Midas Responsibility Statement

Sources used in creating this content: Benzinga

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