What's Happening With Chrysler-Parent Stellantis Stock On Friday?
Portfolio Pulse from Shivani Kumaresan
Stellantis NV (NYSE:STLA) shares are trading lower premarket on Friday due to new EU tariffs on electric vehicles. The company is considering relocating some Leapmotor model production from China to Europe to mitigate increased import costs. The EU has imposed additional tariffs on several automakers, including BYD Company and SAIC Motor Corp, following a probe into state subsidies. Stellantis confirmed its 2024 guidance of double-digit AOI margin and a capital return plan of at least 7.7 billion euros.
June 14, 2024 | 1:38 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
BYD Company will face an additional 17.4% tariff on EV imports to the EU, following a probe into state subsidies. This could lead to increased costs and potential price adjustments in the European market.
The additional 17.4% tariff on BYD's EV imports to the EU will likely increase costs, potentially leading to higher prices for consumers and affecting sales in the European market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Geely Automobile Holding is among the automakers affected by the new EU tariffs on EV imports. The increased costs could impact their pricing strategy and market competitiveness in Europe.
Geely Automobile Holding will face increased costs due to the new EU tariffs on EV imports, which could affect their pricing strategy and market competitiveness in Europe.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Stellantis shares are trading lower premarket due to new EU tariffs on EVs. The company is considering relocating some Leapmotor model production from China to Europe to mitigate increased import costs. Stellantis confirmed its 2024 guidance of double-digit AOI margin and a capital return plan of at least 7.7 billion euros.
The new EU tariffs on EVs directly impact Stellantis, leading to a premarket drop in share price. The company's consideration to relocate production to Europe is a strategic move to mitigate these costs. Confirmation of 2024 guidance and capital return plan provides some positive outlook but is overshadowed by the immediate negative impact of the tariffs.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100