Shares of several automobile, EV and auto part manufacturing companies are trading lower after January CPI data showed a greater-than-expected rise in inflation.
Portfolio Pulse from Benzinga Newsdesk
Shares of automobile, EV, and auto part manufacturers are down following January CPI data indicating a higher-than-expected inflation rise.
February 13, 2024 | 8:46 pm
News sentiment analysis
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NEGATIVE IMPACT
APTV shares are trading lower due to concerns that higher inflation could impact consumer spending and manufacturing costs.
Higher inflation typically leads to increased manufacturing costs and reduced consumer spending, negatively impacting APTV's financial performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
CPS stock declines amid fears that inflation will squeeze margins and reduce disposable income for vehicle purchases.
Inflation can erode consumer purchasing power and increase production costs, potentially harming CPS's profitability.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
EVGO shares decline as inflation data may deter investment in EV infrastructure and consumer EV adoption.
Rising inflation could lead to cautious spending on EVs and infrastructure, impacting EVGO's growth prospects.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ford's stock is down as higher inflation may affect vehicle sales and increase operational costs.
Increased inflation can lead to higher costs for materials and potentially lower vehicle sales, negatively affecting Ford's bottom line.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
FOXF shares are trading lower, likely due to concerns over increased production costs and consumer spending power amid rising inflation.
Higher inflation can increase production expenses and reduce consumer spending, potentially impacting FOXF's profitability.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
LCID's stock falls as inflation concerns may slow down luxury EV purchases and increase manufacturing costs.
Rising inflation could deter consumers from purchasing luxury EVs and raise LCID's manufacturing costs, affecting profitability.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
NIO shares decline as the inflation data may impact global demand for EVs and increase supply chain costs.
Higher inflation can affect global demand for EVs and increase costs in the supply chain, potentially impacting NIO's financial performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
PSNY's stock is down, likely due to concerns that inflation could impact consumer spending on new EV models.
Inflation can reduce consumer spending power, potentially affecting sales of PSNY's new EV models.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
PSNYW, the warrant of PSNY, is trading lower as inflation concerns mirror those affecting its parent stock.
As warrants related to PSNY, PSNYW's performance is directly impacted by the same inflation concerns affecting PSNY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
RACE shares decline as luxury vehicle sales may be impacted by reduced consumer spending power due to inflation.
Inflation can decrease consumer spending power, potentially affecting sales of RACE's luxury vehicles.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
RIVN stock is down as inflation concerns may affect consumer interest in new EVs and increase production costs.
Rising inflation could lead to higher production costs and reduced consumer interest in purchasing new EVs, impacting RIVN's growth.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
TSLA shares are trading lower as inflation may impact consumer purchasing power and increase operational costs.
Inflation can lead to increased operational costs and reduced consumer purchasing power, potentially affecting TSLA's profitability.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
VFS shares are down, potentially due to concerns over inflation impacting consumer spending and operational costs in the auto parts sector.
Inflation can increase operational costs and reduce consumer spending, potentially affecting VFS's financial performance in the auto parts sector.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80