BMW Earnings Decline on Higher Auto Manufacturing Costs [BNN Bloomberg (Canada)]
Stellantis N.V. Common Shares (STLA)
Company Research
Source: BNN Bloomberg
The German manufacturer's automaking margin in the period dropped to 8.8% — within its target range but slightly below analyst expectations. It still confirmed its full-year guidance. The results indicate car markets may remain challenging this year amid persistent inflation, a protracted recovery in China and muted economic growth in much of Europe. Mercedes-Benz Group AG in April reported a drop in earnings on model changeovers and soft demand for electric vehicles, with Volkswagen AG and Stellantis NV also flagging slow starts to the year. In a positive development, BMW saw group EV sales rise 28% in the first quarter and also reported a significant increase in deliveries of high-end models such as the BMW 7-Series. Still, overall revenue declined 0.6% to €36.6 billion billion in the period. BMW's group earnings before interest and taxes fell by a quarter. ©2024 Bloomberg L.P. Top Picks
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STLA
News
- Alabama Mercedes-Benz Workers Vote Against Unionizing—In UAW Setback [Forbes]Forbes
- Tim Kuniskis, CEO of Ram and Dodge brands, retiring from Stellantis after nearly 32 years [CBS News]CBS News
- Mercedes-Benz workers reject UAW in Alabama [Yahoo! Finance]Yahoo! Finance
- Alabama Mercedes-Benz Workers Vote Against Unionizing—In UAW Setback [Forbes]Forbes
- American muscle cars are losing their biggest champion as Tim Kuniskis retires from Stellantis after a 32-year run [Fortune]Fortune
STLA
Sec Filings
- 5/17/24 - Form 8-K
- 5/15/24 - Form 6-K
- 5/9/24 - Form 10-Q
- STLA's page on the SEC website