Stellantis: backtrack!

(Boursier.com) — Third session of sharp decline for Stellantis which dropped 2.3% to 24.9 euros at the end of the morning. In a note released yesterday, JP Morgan (‘overweight’) said it expected a decline in revenues and volumes (-6%) in the first quarter, as the company seeks to keep control of stocks and its fixing power. prices. In North America, the bank says volumes are temporarily down due to factors such as product changes and facility downtime; and does not see stocks decreasing before the second half of the year. JPM sees the need for the group to reduce its cost base in North America if certain vehicle prices are repositioned. In Europe and Latin America, Stellantis is growing in line with or slightly below the market, protecting its pricing power with a lower EV mix than in 2023.