Why Stellantis Shares Are Sliding Today

  • Stellantis NV STLA could lose 220,000 vehicles in 2022 as lost output due to the semiconductor supply crunch, Reuters reported, citing the Italy-based FIM CISL union.
  • The union also added that the 2022 drop would mark the fifth consecutive year of production decline in Italy.
  • FIM CISL said Stellantis' vehicle production in the first half of 2022 declined 14% year-on-year to 351,890 units.
  • "It's as if one of the group's large plants stopped for a year," the report nquoted the head of the FIM CISL union, Ferdinando Uliano.
  • The most affected sites were the Melfi plant and the Sevel van-making facility. 
  • Price Action: STLA shares are trading lower by 6.53% at $11.59 in premarket on the last check Tuesday.
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