Stellantis shares fall following the release of European registration figures

(Il Sole 24 Ore Radiocor) - The European car market has grown for the fourth consecutive month, but the pace is slowing, with Chinese manufacturers being the main drivers of new car registrations, whilst Stellantis is underperforming, falling by more than 4 points. The sector in Europe is among the worst performers, with the sector’s Eurostoxx index down 1.9%.

In Europe, according to Acea data, new car registrations rose by 3.6 per cent year-on-year in May, showing a slight slowdown compared with the first four months of the year (+4.5 per cent year-to-date). As for Stellantis, analysts at Banca Akros note that, following four months of positive results, new registrations fell by 2.3% year-on-year in May.

“Acea’s figures confirm what had already been recorded by most countries at the start of the month, with growth of 4 per cent driven mainly by Chinese groups (+65 per cent) against a decline among non-Chinese groups (-1 per cent),” note analysts at Intermonte. Against this backdrop, Stellantis is showing a slight underperformance (+3%), including the significant contribution from Leapmotor (organic growth stands at -2%). “The result,” says Intermonte, “is below the second-quarter performance and below expectations for the year, which point to mid-single-digit growth.”

Overall, the analysts conclude, “the production mix does not appear surprising”. The rating on the share is ‘outperform’ with a target price of €8.20, whilst Banca Akros rates it as a ‘buy’ with a target price of €9. Analysts at Banca Akros point out that, since the start of the year, however, Stellantis has continued to outperform the market, with registrations up by 5.3 per cent. Stellantis’ market share stood at 14.3% in May 2026, down from 15.2% in May 2025. On a year-to-date basis, the market share has remained broadly stable at around 15.5%.