Stellantis Recalls Over 154K Jeep Plug-Hybrid SUVs In US Citing Fire Risk
Portfolio Pulse from Anan Ashraf
Stellantis NV is recalling over 154,000 Jeep plug-in hybrid SUVs in the U.S. due to fire risks. The recall affects models from 2020-2024 and includes a global total of 194,245 units. Stellantis has also lowered its financial guidance for 2024, expecting reduced operating income margins and negative cash flow. Stellantis shares fell 12.5% following the announcement.
October 01, 2024 | 6:02 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Stellantis is recalling over 154,000 Jeep plug-in hybrid SUVs in the U.S. due to fire risks, affecting models from 2020-2024. The company has also lowered its financial guidance for 2024, expecting reduced operating income margins and negative cash flow. Stellantis shares fell 12.5% following the announcement.
The recall of a significant number of vehicles due to fire risks is a serious issue that can affect consumer trust and lead to financial liabilities. Additionally, the lowering of financial guidance for 2024 indicates potential financial struggles, which is likely to negatively impact the stock price in the short term. The immediate 12.5% drop in share price reflects investor concerns.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100