Stellantis reported estimated second-quarter shipments of 1.6 million vehicles, a 10% increase from the same period last year. North American shipments rose 38% after the automaker brought back models including the Ram 1500 pickup truck with a Hemi V8 engine. European shipments increased 5%, with figures including its joint venture with Chinese automaker Zhejiang Leapmotor Technology. CEO Antonio Filosa presented a turnaround strategy in May calling for 60 billion euros, or 68.4 billion dollars, of spending through 2030 to introduce dozens of new models. Despite the stronger shipment figures, Stellantis shares have fallen more than 25% since the plan was introduced, and JPMorgan and HSBC downgraded the stock this month.
Stellantis NVSecond-quarter shipments rose 10% globally, with North America up 38% due to Ram 1500 relaunch, indicating strong product demand.
Zhejiang Leapmotor Tech Co
HSBC Holdings PLC
JPMorgan Chase & Co