Legacy European carmakers fall after May registrations slip

Stellantis NV

Tue 08:51

** Shares in Europe's automotive companies Stellantis STLAM.MI, Renault RENA.PA, Volkswagen VOWG.DE are down between 1.6% and 3.6% in early trade, after their registrations in the European automarket slipped in May, reflecting intensifying competition
** Registrations for the three legacy carmakers fell between 1% and 3% in the period, underperforming the market as EVs demand powered overall sales and Chinese rivals expanded their market share
** Brokerage Equita notes that Stellantis' 2.5% yearly growth in unit sales is below the group's FY26 revenue "mid-single digit" growth guidance, given that in Europe it also has to factor in a negative price effect

 (Reporting by Mirko Miorelli)
 ((Mirko.Miorelli@thomsonreuters.com))