文章核心观点 - 斯特兰蒂斯(Stellantis)公司在2023年上半年业绩表现不佳,主要受到供应链问题、利率上升和中国汽车品牌进入传统市场等因素的影响 [2][4][6] - 但公司在一些方面具有优势,如低中国市场敞口和不过度押注纯电动车转型等 [6] - 公司正在采取措施应对,如提高混合动力车型产量、降低成本和提升营销等 [6][7] - 公司仍有望在2023年下半年和2024年实现业绩改善,并保持较高的利润率水平 [6][7] 行业和公司分析 行业概况 - 疫情后供应链问题导致多数汽车制造商库存清理缓慢,销量受到影响 [6] - 利率上升压缩了消费者购车需求 [6] - 中国汽车品牌加大进军传统市场,引发新的关税战 [6] - 纯电动车需求大幅下滑 [6] 斯特兰蒂斯公司情况 - 公司在中国市场敞口较低,且未全面押注纯电动车转型 [6] - 但在美国市场销量大幅下滑21% [6] - 公司正在推出新车型,预计未来销量将反弹15%-20% [6] - 2023年第三季度受到罢工影响,但下半年业绩有望好转 [6][7] - 公司承诺保持两位数利润率和正现金流 [7] - 公司加大股东回报力度,通过分红和股票回购提升股东价值 [7] - 公司正在采取措施应对成本上升和营销问题 [7] - 公司在轻型商用车领域保持领先地位,尤其在中东和南美市场表现出色 [7] 估值分析 - 公司资产负债表强劲,现金头寸充足 [11][12] - 股息和股票回购合计收益率约11% [12] - 预计2024年每股收益约5欧元,对应市盈率仅3倍左右 [12] - 销售估值仅0.36倍,远低于行业平均水平 [12] - 如果下半年现金流改善,投资者信心有望恢复 [12]

文章核心观点 - 斯特兰蒂斯公司在2024年上半年的财务业绩出现大幅下滑,低于预期 [3] - 公司表示将采取措施应对北美地区的经营挑战,包括减产和降价 [3] - 公司股价在此消息公布后下跌7.7% [3] 公司情况总结 - 斯特兰蒂斯公司是一家跨国汽车制造商 [1][2] - 公司正面临证券欺诈或其他非法商业行为的指控 [2] 财务业绩分析 - 公司2024年上半年的收益大幅下滑,低于预期 [3] - 公司表示下滑的主要原因是利润率下降以及美国业务的高库存 [3] 应对措施 - 公司计划处置旗下表现不佳的品牌 [3] - 公司将在北美地区采取果断行动应对经营挑战,包括减产和降价 [3]

AUBURN HILLS, Mich. , July 25, 2024   /PRNewswire/ --Jeep® Wagoneer first in the study's large SUV segmentAlfa Romeo Giulia tops among compact premium carsAlfa Romeo Tonale finishes third in compact premium SUVRam marks fifth consecutive year as second-ranked mass-market brandRam 1500 second among large light-duty pickupsRam 2500/3500 tie for second among heavy-duty pickups2024 Jeep® Wagoneer first in large SUV segmentStellantis continues its string of strong showings in the J.D. Power 2024 U.S. Automotive ...

文章核心观点 - 斯特兰蒂斯公司(Stellantis)的业绩大幅下滑,主要受到北美地区库存过剩的影响 [1][2][3][4][5] - 斯特兰蒂斯公司表示正采取"果断行动"来应对运营挑战,但上半年净利润同比下滑48% [3] - 斯特兰蒂斯的业绩下滑反映了整个汽车行业面临的挑战,包括需求降温、通胀影响消费等 [6][7] 行业概况 - 福特汽车(Ford)的二季度业绩也未达预期,但通用汽车(GM)业绩超预期,不过在中国市场亏损 [7] - 特斯拉(Tesla)的利润同比下降45%,主要受到平均售价下降的拖累 [8] - 斯特兰蒂斯股价今年迄今下跌约16% [8]

业绩总结 - 公司在H1 2024实现了85亿欧元的净收入[11] - 调整后的营业收入下降40%，达到8463万欧元[116] - 净收入因大幅减少的销量和外汇风险而下降[108] - 工业自由现金流接近零，由于盈利能力下降、资本支出和营运资本不利影响[131] - 上市公司在2024年上半年销售量达到87,000辆，几乎翻了一番[173] 用户数据 - 北美地区的AOI边际为11.4%，较去年同期下降610个基点[53] - 欧洲30国市场H1市场份额为18.2%，较去年同期下降80个基点，但较上一季度增长60个基点[73] 未来展望 - Fiat实现了两位数的AOI利润率和67亿欧元的资本回报[186] - Fiat在上半年推出了10款新产品，转型进程顺利进行[187] 新产品和新技术研发 - 在印尼推出Citroën C3, ë-C3, C3 Aircross，马来西亚启动NSC[91] - Opel推出了Frontera BEV，起价低至29,000欧元，成为首个提供每款车型BEV版本的德国品牌[180] - Fiat推出的Grande Panda BEV起价低至25,000欧元，成为Stellantis销量最高的品牌[183] - Fiat的新产品将利用共享平台和技术，首次实现跨品牌技术整合[184] - Fiat重新推出了Grande Panda BEV，售价低至25,000欧元[185] 市场扩张和并购 - Leasys租赁公司在欧洲扩张，车队单位达到887k，同比增长7%，计划在2026年达到100万[94] - 巴西Finco所有产品，零售应收款项比2023年翻倍，独立售后市场攻势扩大[95] 负面信息 - 公司在H1向股东返还了67亿欧元，执行了至少77亿欧元的全年计划[11]

One Equity Partners Invests in Comau to Foster Greater Growth in the Italian Industrial Automation Leader One Equity Partners (OEP) will become majority shareholder of Comau; Stellantis will remain an active minority shareholderThe spinoff of Comau is part of the strategic agreement signed when Stellantis N.V. was formed in January 2021Under the new ownership, Comau will have access to additional funds as appropriate to enhance and expand its Italian roots, and to grow its competencies in diversified sector ...

New Jeep vehicles sit on a Dodge Chrysler-Jeep Ram dealership's lot on October 03, 2023 in Miami, Florida.Auto giant Stellantis on Thursday reported a steep drop in first-half net profit, citing reduced volumes, temporary production gaps and lower market share in North America.The company, which owns household names including Jeep, Dodge, Fiat, Chrysler and Peugeot, reported first-half net profit of 5.6 billion euros ($6.07 billion), down 48% from the same period of 2023.Stellantis' adjusted operating incom ...

AUBURN HILLS, Mich., July 23, 2024 /PRNewswire/ -- Tickets are available, the date and location are locked in and the Dodge Brotherhood of Muscle is geared up to gather again for the ninth edition of MotorTrend Presents Roadkill Nights Powered by Dodge, set to return to M1 Concourse in Pontiac, Michigan, on August 10, 2024. Ninth edition of MotorTrend Presents Roadkill Nights Powered by Dodge set to return to M1 Concourse in Pontiac, Michigan, on Saturday, August 10 Tickets start at $25 with a variety ...

RiverNorthPhotography Here at the Lab, we have a good grip on the European automotive coverage (Volkswagen, Renault, Ferrari, Aston Martin, and Mercedes). In our deep-dive analysis, we also look at automotive holding companies such as Porsche Automobil and Exor, Stellantis' (NYSE:STLA) main shareholder (with an equity stake of 14.87%). As a reminder, Stellantis is a merger between FCA and PSA and is the Number 4 carmaker globally by units sold. 50% of the group's core operating profit comes from the highly ...

The most recent trading session ended with Stellantis (STLA) standing at $20.34, reflecting a +0.64% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 1.39%. Meanwhile, the Dow experienced a rise of 0.6%, and the technology-dominated Nasdaq saw a decrease of 2.77%.Prior to today's trading, shares of the automaker had lost 0.93% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 22.9% and the S&P 500's gain of 4.43% in that t ...