Stellantis says no merger plans after Renault report
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Citi remains neutral on Stellantis (STLA) as market share continues to fall
February 5, 2024 2:16 PM ESTCiti research remains sidelined on Detroit automaker, Stellantis (NYSE: STLA) with a 12-month price target of $18.00 as the Jeep-parent continues to lose market share, even in its four core models.
STLA's market share has experienced a decline, dropping from 13% to 9% in the US market and decreasing from 21.7% in Q1 2021 to 15% in Q4 2023 in Europe. The French market share for the Group has also fallen from over 35% in... More
Global BEV sales reach a new high
February 5, 2024 11:56 AM ESTBank of America tracked electric vehicle sales for December and FY 2023 finding in December 2023 that global Battery Electric Vehicle (BEV) sales achieved a record high of 1.1 million units, marking a 19% YoY increase and pushing the penetration rate beyond 14% for the first time.
China experienced a resurgence in BEV sales, rising by 38% YoY in December and 32% in the 4Q. Meanwhile, the EU saw a 20% decline in December due to the phasing out of subsidies the previous... More
Citi remains neutral on Stellantis (STLA) following merger chatter
February 5, 2024 9:21 AM ESTCiti Research reiterate a Neutral rating on Stellantis (NYSE: STLA) and maintained a 12-month price target on the carmaker of 18.00 following rumors that the Jeep-parent was contemplating a possible merger with French rival, Renault.
Last week, STLA CEO Tavares mentioned in a Bloomberg interview that he sees... More
Chairman denies rumors of Stellantis (STLA) Renault merger
February 5, 2024 8:29 AM ESTOn Sunday, the Italian daily Il Messaggero reported that the French government, being the largest shareholder in Renault and holding a stake in Stellantis (NYSE: STLA), was reportedly examining proposals for a potential merger between the two automotive groups.
Stellantis Chairman John Elkann refuted the rumors Monday morning,... More
