At Stellantis investor day, cost cuts and China come into focus
Publishing timestamp: 2024-06-12 12:29:01
Summary
Stellantis CEO Carlos Tavares and executives are expected to address Chinese competition, capital discipline, forthcoming products, software initiatives, and cost reductions as the company aims to achieve ambitious financial targets by 2030. The company has aggressively cut operations under Tavares, with some executives describing the measures as difficult or grueling. The cost-saving measures have helped increase profits and double revenue, but there are concerns about competition from Chinese automakers and the need to make EVs profitable. Wall Street will be looking for updates on U.S. vehicle inventory levels, upcoming product launches, and plans for China during the company's capital markets day. Analysts have noted a divergence in Stellantis' stock performance compared to General Motors and Ford Motor.
Sentiment: MIXED
Keywords: united states, business news, breaking news: business, carlos tavares, general motors co, detroit, business, stellantis nv, climate, amazon.com inc, autos, transportation, ford motor co,
Source: https://www.cnbc.com/2024/06/12/stellantis-investor-day-wall-street-expectations.html