Stellantis, One Of The World's Largest Automobile Company's Car Production Dips To A 68-Year Low, Shares Hit

Stellantis, One Of The World's Largest Automobile Company's Car Production Dips To A 68-Year Low, Shares Hit

The Netherlands-based company is one of the biggest names in the industry, along with the likes of Japan's Toyota and Germany's Volkswagen, among others.

Juviraj AnchilUpdated: Sunday, January 05, 2025, 10:01 AM IST
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2025 has started and has brought in some bad news from the previous year for some companies. The multinational automobile giant Stellantis is one of them. The carmaker had one of the worst years in its history in 2024.

7-Decade Low Production Numbers

The car company saw its production of cars drop to a 7-decade low in Italy. This 68-year-low number attained in car production meant a 37 per cent drop in 2024 alone.

This development, emerging from Italy comes at a time of utmost turmoil in the automobile business, that has been disrupted by many factors.

In addition, the evergreen factor of competition from traditional players along with the likes of Tesla and cost-effective Chinese car makers has only added to the woes of companies like Stellantis.

In addition, the evergreen factor of competition from traditional players along with the likes of Tesla and cost-effective Chinese car makers has only added to the woes of companies like Stellantis. | File Pic

First of them is an EV revolution that has swept across the globe, and then there is fatigue from EVs that led to the hype of hybrids. In addition to this a larger slowdown in consumption across the board, including in the largest market, China has not helped the cause European manufacturing giants.

In addition, the evergreen factor of competition from traditional players along with the likes of Tesla and cost-effective Chinese car makers has only added to the woes of companies like Stellantis.

The Netherlands-based company is one of the biggest names in the industry, along with the likes of Japan's Toyota and Germany's Volkswagen, among others.

Coming to Stellantis's recent misery, the company, which is an amalgamation of the Italian American Fiat Chrysler and France's PSA-Peugeot chalked out 475,090 car in the Mediterranean country, a far cry from 751,384 units from a year ago, in 2023.

Stellantis Shares In Red

This debacle has also reflected their performance at the equity markets as well.

The shares of the company listed on the Italian Stock Exchange or Borsa Italiana as STLAM saw its shares tumble in the intraday trade on Friday.

The overall decline in one day alone stood at 3.52 per cent or EUR 0.44. This decline at the bourse took the overall of the company shares to 12.18 Euros. This is not even half of the 52-week-high of EUR 27.35 per share.

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