MILAN, March 24, 2026, 20:54 CET
Stellantis climbed 2.3% to $6.74 on the NYSE late Tuesday, with traders reacting to new European auto sales figures and a brighter tone from Chairman John Elkann.
The rebound carries weight, with Stellantis shares still digging out from under the Feb. 6 blow: the automaker revealed 22.2 billion euros in impairments—write-downs that slashed asset values—after pulling back from its once-bold EV aspirations and announcing there’d be no dividend. Now, investors want to see if Chief Executive Antonio Filosa can steady sales figures before the company’s capital markets day on May 21.
European registrations edged up 1.7% in February, hitting 979,321 vehicles, according to ACEA data. Stellantis posted a 9.5% jump, well ahead of the general trend. Volkswagen managed a 2.2% lift. Renault slipped 14.3%. Tesla reversed course, up 11.8%, while BYD’s registrations more than doubled on the year. Two-thirds of those vehicles counted as electrified—battery-electric, plug-in hybrid or hybrid.
Elkann, chairman of Stellantis and head of Exor—also a major shareholder—used sharper language in his letter to investors. The group, he wrote, underwent a “profound transformation” in 2025. “I am confident that Stellantis will turn the corner,” Elkann added. EXOR
He struck a cautious note on capital allocation, telling Reuters it was a moment for “patience and prudence” with Exor holding over 3.5 billion euros in cash. Earlier this month, Stellantis sold 5 billion euros in hybrid bonds—an effort to bolster its balance sheet and liquidity following the EV reset. Reuters
Stellantis is sticking with its 2026 targets: mid-single-digit revenue growth and a low-single-digit adjusted operating margin, which tracks core profitability. Executives say the bulk of any recovery won’t show up until the second half, as more new vehicles arrive in dealerships. Industrial free cash flow? Don’t expect that to go positive before 2027.
A mild uptick in Europe leaves the broader strategy question hanging. Citi analysts flagged the hefty cash portion of February’s writedown as “a key negative.” For Gartner, Pedro Pacheco pointed to a risk: Stellantis and other automakers might overcorrect on EV cutbacks. Reuters
Tuesday’s climb hasn’t convinced everyone—the market is holding out for concrete proof that the reset is taking hold. Eyes are on Europe’s trajectory, the potential for tariffs to drive up U.S. costs this year, and what Filosa will unveil at the May 21 investor day.
