Why Stellantis Shares Are Sliding Today

by Shivani Kumaresan, Benzinga Staff Writer

July 5, 2022 8:09 AM | 1 min read |

Stellantis NV STLA could lose 220,000 vehicles in 2022 as lost output due to the semiconductor supply crunch, Reuters reported, citing the Italy-based FIM CISL union.
The union also added that the 2022 drop would mark the fifth consecutive year of production decline in Italy.
FIM CISL said Stellantis' vehicle production in the first half of 2022 declined 14% year-on-year to 351,890 units.
"It's as if one of the group's large plants stopped for a year," the report nquoted the head of the FIM CISL union, Ferdinando Uliano.
The most affected sites were the Melfi plant and the Sevel van-making facility.
Price Action: STLA shares are trading lower by 6.53% at $11.59 in premarket on the last check Tuesday.
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