STLA•HSBC cut its rating on Stellantis to Reduce, citing U.S. dealer inventories climbing back to crisis levels. Milan-listed shares fell 3.6% as investors braced for margin pressure from slowing U.S. sales growth.
HSBC downgraded Stellantis from Hold to Reduce, highlighting that U.S. dealer stockpiles have returned to levels last seen during the pandemic-induced slowdown. The bank flagged this inventory glut as a headwind to the company’s sales momentum and pricing power in North America.
Following the downgrade, Stellantis shares on the Milan exchange slid 3.6%, reflecting investor concern over potential margin compression. The decline underscores market sensitivity to U.S. delivery trends as inventory turn rates decelerate.
