© Reuters. Stellantis (STLA) slumps amid market challenges
Stellantis (NYSE:), the parent company of Jeep, is trending down more than 3% during mid-day trading on Wednesday, reflecting a downturn in vehicle sales.
Financial experts at Equita have identified Stellantis as “among the worst performers in the automobile sector,” citing disappointing year-over-year sales comparisons.
According to Equita’s analysis, Stellantis experienced a 9% year-over-year decrease in sales within Europe this past December, particularly in Italy where 30,000 units were sold. This decline is attributed to ongoing weaknesses observed in the Fiat, Jeep, and Opel brands. Furthermore, competitors such as Citroen and Peugeot have managed to gain traction in the French market, further impacting Stellantis’ market share.
Notably, the French market in the fiscal year 2023 remained 20% below the levels…
