Stellantis shares fall; analysis raises doubts over new car sales mix but confidence in targets remains
Last month, the company recorded a 6.2 per cent increase, compared with market growth of 3.15 per cent. Its market share rose to 27.2 per cent from 26.4 per cent a year earlier
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(Il Sole 24 Ore Radiocor) – Shares in Stellantis on the Milan Stock Exchange following the publication of figures on Italian vehicle registrations for August. Last month, the company recorded a 6.2 per cent rise in registrations, compared with a 3.15 per cent increase in the market as a whole. Its market share rose to 27.2 per cent from 26.4 per cent a year earlier. In the first eight months of 2026, Stellantis registered 341,225 cars, a 14 per cent increase compared with the same period last year (299,264 cars were registered between January and August 2025), outperforming the market as a whole, which grew by +8.54%. Over the eight-month period, the market share stood at 30.2% (up from 28.7%).
Broadening the analysis to the European level, analysts at Intermonte note that in the continent’s main markets, Stellantis recorded annual growth of 7 per cent, compared with +5 per cent for the market as a whole. However, the experts write, ‘excluding the contribution from Leapmotor, Stellantis’s growth falls to 3.5 per cent, which is therefore slightly lower than that of the market’. Furthermore, ‘the quality of the data appears less than convincing from a mix perspective: by segment, passenger cars grew by 11 per cent whilst light commercial vehicles fell by 5 per cent’ and, from a brand perspective, ‘growth was driven mainly by Fiat and Citroën, with a negative contribution from the higher value-added brands’.”
“Stellantis continued to underperform in France and outperformed in Italia, but only when Leapmotor’s contribution is factored in,” adds Equita, noting that in the United States the group outperformed the market “thanks to Ram”. “As previously noted, we believe that sell-in volumes (deliveries to dealers) will again exceed registrations in the third quarter, given the launch of new models,” point out the analysts at Sim. “For this reason, despite an uncertain macroeconomic and geopolitical environment, we remain of the view that the 2026 revenue growth guidance of around mid-single digits is achievable, even allowing for a negative price effect in Europe,” they add.
