As GM announces more layoffs, auto expert sees possible shift from EV production [CBS News]
Stellantis N.V. Common Shares (STLA)
Company Research
Source: CBS News
shift in operations because of a less-than-expected volume of electric vehicle sales. Jan Griffiths, an automotive industry expert and founder of Gravitas Detroit, a company that works with the auto industry on meeting the demands of the EV revolution, says GM is likely not the only automaker that will be looking to right-size or shift its operations from focusing so heavily on EVs. "GM had quite a shift in the strategy lately; as you know, they were all in on EVs, and when the EV demand didn't come through as we all expected, they had to change the strategy, and now they're looking at right-sizing their operations," said Jan Griffiths. "Stellantis is in a much worse situation. Stellantis stock has dropped 40%. Their sales in the last quarter were down 20% in the U.S. The dealer lots are full of inventory, so when you have a lot of cars on dealer lots, you certainly don't need to build more." However, there is another looming issue for automakers that could have a significant
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STLA
Sec Filings
- 11/8/24 - Form 144
- 10/31/24 - Form 6-K
- 10/16/24 - Form 6-K
- STLA's page on the SEC website