Stellantis U.S. Sales Disappoint in May-June, Prompting Citi Target Cut

Citi analysts note that Stellantis’s U.S. sales for May and June were “very disappointing.” Apart from a solid showing by the RAM line and an unusually strong June for the Chrysler Pacifica minivan, the remainder of the automaker’s U.S. model portfolio “remains very weak,” according to the bank’s assessment.

Wall Street Journal

The company’s headline monthly market-share figures of 7.5 % in May and 7.6 % in June sit at the very low end of Stellantis’s ten-year U.S. performance record, underscoring a continued weakness across most models.

Wall Street Journal

Citi kept its neutral rating on Stellantis but lowered its share-price target from €7.20 to €5.50. The adjustment reflects the broader sales weakness despite isolated model strengths. Following the announcement, Stellantis shares edged up 0.1 % to €4.70.

Wall Street Journal

• “sales performance in May and June has been very disappointing, Citi analysts write.” — Citi analysts

Wall Street Journal

• “performance, highlighting continued weakness, the model-by-model detail highlights further difficulty, the bank adds.” — Citi analysts

Wall Street Journal

The modest share-price uptick suggests limited immediate investor optimism, while Citi’s lowered target signals expectations of continued pressure on Stellantis’s U.S. sales unless broader model performance improves. The bank’s neutral stance indicates that, despite the target cut, it does not anticipate a near-term downgrade of the company’s overall rating.

Wall Street Journal