European Automakers Are Struggling With Falling Demand [zero hedge]
Stellantis N.V. Common Shares (STLA)
Company Research
Source: zero hedge
European Automakers Are Struggling With Falling Demand Shares in names like VW, Mercedes and Stellantis were lower this week, heading into Wednesday's session, after news of "falling demand" in Europe. In the first quarter of this year, Europe's top two car manufacturers faced a downturn due to diminished demand in China and domestic markets, Financial Times reported on Tuesday this week. Volkswagen Group saw a significant decline in profits, dropping by a fifth from the previous year to €4.6bn, largely attributed to declining resale values and supply issues at Audi, a key brand within the group, the report says. Diminished resale values pose a particular challenge for car manufacturers like VW, heavily involved in customer financing. When used car prices fall below expectations, companies are compelled to take write-downs on these loans. FT also noted that Stellantis, the parent company of Peugeot and Jeep, experienced a larger-than-anticipated drop in revenue, totaling €41.7bn in th
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STLA
Sec Filings
- 5/15/24 - Form 6-K
- 5/9/24 - Form 10-Q
- 5/1/24 - Form 6-K
- STLA's page on the SEC website