Early Easter causes EU new car sales to drop 5.2% in March, says ACEA [Reuters]
Stellantis N.V. Common Shares (STLA)
Company Research
Source: Reuters
since July 2022, Europe's auto industry body said on Thursday, citing the impact of early Easter holidays and a market downturn. Top European carmakers Volkswagen and Stellantis (STLAM.MI) New Tab , opens new tab have said the market will be tough in 2024, as a result of weak global demand for electric vehicles (EVs), increasing Chinese competition, sustained cost pressures and geopolitical tensions. Car registrations fell in March by a yearly 6.2% in Germany, 4.7% in Spain, 3.7% in Italy and 1.5% in France, data by the European Automobile Manufacturers Association (ACEA) showed. Sales of battery electric cars dropped by 11.3% from the previous year, reflecting a broader market downturn, ACEA said, while hybrid-electric vehicle registrations were up by 12.6%, mainly because of strong sales in France and Italy. EVs sales growth has slowed , and investment in capacity and technology development has outrun demand as many prospective buyers are deterred by cost and continuing do
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STLA
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- 4/30/24 - Form 6-K
- 4/26/24 - Form 6-K
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- STLA's page on the SEC website