Leapmotor International Ships the First Batch of Leapmotor Electric Vehicles from China to Europe This Month Leapmotor's C10 and T03 electric vehicles have set sail for Europe with more to come in the following months marking a significant milestone for the innovative joint venture Leapmotor International, a 51/49 Stellantis-led company, will sell C10 and T03 electric vehicles in nine European countries starting in September and plans to establish 200 sales points for Leapmotor vehicles in Europe by the end ...

In the first half of the year, Stellantis (NYSE:STLA), the automaker that owns the Chrysler and Fiat brands, struggled mightily. Indeed, the company's share of the North American and European markets fell significantly, while its financial results plunged compared with the first half of 2023. But all hope is not lost for Stellantis and Stellantis stock. Still, until the Street becomes convinced that these steps are boosting the company's financial results, Stellantis stock is likely to underperform its peer ...

2024 Jeep® Wagoneer first in large SUV segment2024 Jeep® Wagoneer first in large SUV segment "If you consider the broad range of vehicles that contributed to these results, it's clear that creativity is baked into our existence as a company," said Bill Kendell, senior vice-president of North America customer experience at Stellantis. "We know how to design and build engaging vehicles, so we're going to continue developing that knowledge in pursuit of products that are even more inspired." "We're grateful to ...

Financial Data and Key Metrics Changes - The company reported a 10% decline in consolidated shipments, totaling 2.9 million vehicles in the first half of 2024 [59] - Net revenues decreased by 14% to EUR 85 billion, primarily due to lower shipments and unfavorable foreign exchange impacts [59][60] - The AOI margin fell to 10%, down from 14.4% in H1 2023, aligning with full-year guidance [60][66] - Adjusted diluted EPS was EUR 2.36, a 35% decrease, but favorable due to a 4% reduction in shares from buybacks [60] - Industrial free cash flow was negative EUR 0.4 billion, reflecting lower AOI and increased investment spending [69][70] Business Line Data and Key Metrics Changes - The company is undergoing a product blitz with 20 new products, which has absorbed significant resources impacting free cash flow [10][22] - The North American market faced challenges with a decline in AOI margin to 11.4% and a market share drop to 8.2% [29] - In Europe, the company improved its market share by 60 basis points compared to H2 2023, while addressing inventory issues [14][48] Market Data and Key Metrics Changes - In North America, LEV sales increased by 27%, indicating strong consumer recognition of the company's electrification technology [30] - The company is the number one seller of LCVs in Africa, the Middle East, and South America, contributing positively to overall profitability [40][51] - The AOI margin in the Middle East and Africa reached 20.9%, making it the most profitable region [49] Company Strategy and Development Direction - The company is focused on a product blitz to enhance market competitiveness and profitability, with a strong emphasis on electrification [20][23] - There is a commitment to improving inventory management and aligning production with market demand, particularly in North America [34][39] - The company aims to maintain flexibility in manufacturing and product offerings to adapt to market changes and consumer preferences [23][24] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a challenging operating environment due to regulatory chaos and market fragmentation, but remains confident in the company's profitability [5][10] - The company is committed to addressing operational issues and improving performance in the second half of 2024 [7][78] - Future guidance indicates a focus on operational improvements and a positive outlook for free cash flow in the second half of the year [78][79] Other Important Information - The company has returned EUR 4.7 billion in dividends and initiated a share buyback program, repurchasing EUR 2 billion to date [74] - The company is experiencing a transitional period with product discontinuations impacting shipments, but expects to recover as new products launch [31][64] Q&A Session Summary Question: What are the expectations for the second half of 2024? - Management expressed confidence in a rebound, focusing on operational improvements and inventory management to enhance performance [78] Question: How is the company addressing the inventory issues in North America? - The company is implementing enhanced go-to-market initiatives and aligning production planning with market demand to resolve inventory challenges [34][39] Question: What is the outlook for free cash flow? - Management is optimistic about achieving positive free cash flow in the second half, supported by reduced investment spending and improved working capital [78]

Core Insights - Stellantis, the owner of Chrysler and Jeep brands, is taking decisive actions to address operational challenges amid a significant decline in financial performance [2][5][7] - The company reported a 48% year-over-year slump in first-half net profit to €5.65 billion ($6.13 billion) and a 14% decline in revenue to €85.02 billion [2][5] - The automotive industry is facing challenging times with cooling demand and inflation impacting consumer spending [5][10] Financial Performance - Stellantis experienced a 48% decline in net profit for the first half of 2024 compared to the previous year [2][5] - Revenue also fell by 14%, totaling €85.02 billion [2] - The company's shares dropped approximately 16% year-to-date through Wednesday's close [11] Operational Challenges - Stellantis is struggling with excess inventory in North America, which has contributed to its disappointing results [5][6] - The CEO highlighted that the company's performance fell short of expectations due to both industry challenges and internal operational issues [7] - Restructuring and foreign exchange costs have further impacted the company's financial results [9]

Peugeot E-3008 Up to 680km Range (WLTP Cycle) SAFE HARBOR STATEMENT Actual results may differ materially from those expressed in forward-looking statements as a result of a variety of factors, including: the Company's ability to launch new products successfully and to maintain vehicle shipment volumes; changes in the global financial markets, general economic environment and changes in demand for automotive products, which is subject to cyclicality; the Company's ability to successfully manage the industry- ...

Transaction Overview - One Equity Partners (OEP) has signed a binding agreement to make a majority investment in Comau S p A, a global technology company specializing in industrial automation and advanced robotics [1] - The spinoff of Comau is part of the strategic agreement set during the merger between former FCA and Groupe PSA in January 2021 that formed Stellantis N V [1][3] - Financial terms of the private transaction were not disclosed [1] Leadership and Management - Executive Chairman Alessandro Nasi and CEO Pietro Gorlier will retain their responsibilities, as will the Executive Team [2][3] Ownership Structure - OEP will become the majority shareholder of Comau, while Stellantis will remain an active minority shareholder [3] Strategic Goals and Growth - Comau will have access to additional funds to enhance and expand its Italian roots and grow its competencies in diversified sectors [3] - Comau aims to expand its business beyond the automotive sector, targeting global demand growth for industrial automation [14] - The company plans to consolidate its position as a strong international leader in its sector while maintaining solid Italian roots [14] Company Background - Comau is a worldwide leader in delivering sustainable advanced automation solutions with 50 years of experience and a global presence [6] - The company has an international network of 7 innovation centers and 12 manufacturing plants across 12 countries, employing 3,700 people [6] - Comau's portfolio includes products and systems for vehicle manufacturing, e-Mobility, advanced robotics, and digital solutions [6] Industry Context - Stellantis N V is one of the world's leading automakers, aiming to provide clean, safe, and affordable mobility solutions [7] - Stellantis is executing its Dare Forward 2030 strategic plan to achieve carbon net zero mobility by 2038 [7] Transaction Timeline - The transaction is expected to close by the end of 2024, subject to regulatory approvals and customary closing conditions [15]

Core Insights - Stellantis reported a significant decline in first-half net profit, down 48% to 5.6 billion euros ($6.07 billion) compared to the same period in 2023, attributed to reduced volumes, temporary production gaps, and lower market share in North America [1][2][4] Financial Performance - Adjusted operating income for the first six months of 2024 was 8.5 billion euros, a decrease of 5.7 billion euros year-over-year, primarily due to declines in North America [2] - The company's performance in the first half of 2024 did not meet expectations, reflecting both industry challenges and internal operational issues [4] Strategic Initiatives - Stellantis is undertaking corrective actions to address operational issues and has initiated a product blitz, planning to launch at least 20 new vehicles this year, which is expected to create larger opportunities if executed effectively [5] - The CEO emphasized the need for significant work, particularly in North America, to maximize the company's long-term potential [5]

AUBURN HILLS, Mich., July 23, 2024 /PRNewswire/ -- Tickets are available, the date and location are locked in and the Dodge Brotherhood of Muscle is geared up to gather again for the ninth edition of MotorTrend Presents Roadkill Nights Powered by Dodge, set to return to M1 Concourse in Pontiac, Michigan, on August 10, 2024. Ninth edition of MotorTrend Presents Roadkill Nights Powered by Dodge set to return to M1 Concourse in Pontiac, Michigan, on Saturday, August 10 Tickets start at $25 with a variety of ti ...

Cupri Skoda +10.6 -7.4 -9.9 BMW +20.8 +13.8 RiverNorthPhotography Here at the Lab, we have a good grip on the European automotive coverage (Volkswagen, Renault, Ferrari, Aston Martin, and Mercedes). In our deep-dive analysis, we also look at automotive holding companies such as Porsche Automobil and Exor, Stellantis' (NYSE:STLA) main sharcholder (with an equity stake of 14.87%). As a reminder, Stellantis is a merger between FCA and is the Number 4 carmaker globally by units sold. 50% of the group's core ope ...