US stocks rebounded on Friday from a weeklong tech bruising as Wall Street reassessed worries about the impact of AI disruption and the risks of hefty Big Tech spending. The Dow Jones Industrial Average (^DJI) led the way higher, surging by about 2.5%, or more than 1,200 points, to climb ahead of the 50,000 level for the first time. The S&P 500 (^GSPC) rose 2% in its best session since May of last year. The Nasdaq Composite (^IXIC) added about 2.1%, as the indexes bounced back from Thursday's sharp closi ...

Experts saw Stellantis’s statement as a stark admission it has botched its move to go electric - Vauxhall Motors The owner of Vauxhall shed a quarter of its value on Friday as it admitted it had lost sight of “real world” drivers in its disastrous shift to electric vehicles (EVs). In a statement that sent shares tumbling, Stellantis announced a major reset of the business accompanied by a painful €22bn (£19bn) hit to its balance sheet. Antonio Filosa, the chief executive, blamed the one-off charge on “ ...

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Stellantis (STLA) shares crashed more than 25% this morning after the automaker warned a “major EV reset” will trigger a massive €22.2 billion ($26.5 billion) impairment charge. Also on Friday, the car company suspended its full-year dividend to “preserve” its balance sheet, adding it overestimated the timeline for the global transition to electric vehicles (EVs). More News from Barchart Versus its year-to-date high, Stellantis stock is now down more than 35%. www.barchart.com Should You Buy the Dip ...

Core Viewpoint - Stellantis has announced significant write-offs due to lower-than-expected demand for electric vehicles, leading to a sharp decline in its stock price by approximately 24.5% [1] Financial Impact - The company reported charges totaling 22.2 billion euros ($26.5 billion), primarily related to downsizing its electric vehicle (EV) plans and addressing quality issues [2] - Stellantis anticipates an operating loss of 1.2 billion to 1.5 billion euros for the second half of 2025, and has suspended dividend payments [3] Product Strategy Changes - Stellantis has canceled the planned battery-electric version of its full-size Ram pickup truck, reinstating orders for the Ram 1500 with the Hemi V-8 engine [5] - The write-offs include 14.7 billion euros for product-plan changes, 2.1 billion euros for downsizing the EV supply chain, and 5.4 billion euros in other charges related to warranty work and quality improvements [6] Market Context - Other automotive companies like Ford and General Motors have also announced similar adjustments to their EV strategies, but Stellantis's financial impact has been notably more severe [2]

LG Energy Solution has announced it will take full control of Nextstar Energy, a battery joint venture that has created Canada’s first large-scale EV battery factory in Windsor, Ontario. Stellantis is selling its 49% equity stake to LG Energy Solution (LGES), but will remain a major customer for the plant. NextStar Energy was established as a joint venture by the two companies in 2022 to build Canada’s first large-scale battery manufacturing facility. The ownership transition is a mutually agreed, stra ...

Stellantis (NYSE: STLA) suffered a historic collapse this morning, plunging more than 25% in a single session, which marks its worst day since the 2021 merger of Fiat Chrysler and PSA Group. The carna... ...

Core Viewpoint - Stellantis announced a $26.5 billion charge due to a reduction in electric vehicle (EV) production, reflecting a misjudgment of consumer demand for EVs, which is larger than similar charges taken by Ford and General Motors [1][6]. Group 1: Company Strategy and Leadership Changes - Stellantis had ambitious EV goals under former CEO Carlos Tavares, aiming for EVs to constitute 100% of European sales and 50% of U.S. sales by 2030, but he was ousted in 2024 after a significant drop in U.S. sales [2]. - The new CEO, Antonio Filosa, acknowledged that previous assumptions about EV demand were "over optimistic" and emphasized a strategic reset to focus on customer preferences globally and regionally [5]. Group 2: Financial Impact and Market Response - The $26.5 billion charge includes costs related to quality issues and a reduction in the EV supply chain, as well as adjustments to warranty provisions due to poor product quality and job cuts in Europe [6][7]. - Following the announcement, Stellantis shares fell over 22% in New York and more than 23% in Milan, indicating a negative market reaction to the news [10][11]. Group 3: Industry Context and Future Projections - Fully electric vehicles accounted for 19.5% of European sales and only 7.7% of new U.S. car sales last year, highlighting the challenges faced by automakers in transitioning to EVs [5]. - Stellantis forecasts a mid-single-digit increase in net revenue for 2026 and a low-single-digit adjusted operating income margin, with expectations of positive industrial free cash flows by 2027 [11].

PresentationHello, and welcome to the Stellantis Preliminary Results H2 2025 call. [Operator Instructions] I now give the floor to Mr. Ed Ditmire, Head of Investor Relations, to begin today's conference. Sir, the floor is yours.Edward DitmireHead of Investor Relations Thank you. Hello, everyone, and thank you for joining us today as we review Stellantis' H2 2025 Preliminary Financial Results. The presentation material for this call along with the related press release were posted under the Investors section ...

Another Detroit automaker is paying a steep price as it pulls back from electric vehicles. Stellantis — the global auto giant behind brands like Jeep, Dodge, Ram, and Chrysler — said Friday that it would take a €22 billion ($26 billion) charge tied to a sweeping reset of its electric-vehicle strategy.It's the largest in a wave of recent EV-related write-downs by major global automakers, bringing the total in charges across the industry to $55 billion. In September, Volkswagen recorded a $3.5 billion charg ...