Stellantis ended another negative session on Wall Street on October 23, with STLA shares closing at $4.06, down 4.92%. The stock recovered part of its losses after falling as low as $3.92 during the session, but the picture since the start of 2026 remains bleak, with shares in the Antonio Filosa-led group down 62.7%.
Stellantis stock extends its decline as 2026 losses approach 63%
Compared with the U.S. intraday record high of $29.51 reached on March 25, 2024, the current price represents a decline of around 86.2%. In just over two and a half years, the stock has therefore fallen to less than one-seventh of the level it reached during that session.
Analyst downgrades and wider concerns about the automotive sector weighed on the latest trading day. HSBC cut its price target for Stellantis’ European shares from €4 to €3.30 while maintaining its Reduce rating. Volvo’s losses also sent the Swedish company’s stock down nearly 30%, adding pressure to shares of other automakers.
The weakness accumulated throughout the year comes as Stellantis works through a costly industrial overhaul. In February, the company announced €22.2 billion in charges related to the second half of 2025, covering changes to vehicle programs, the battery supply chain and warranty estimates. Filosa acknowledged that the company had previously overestimated the pace of electric vehicle adoption.
Around €6.5 billion of those charges will require cash payments over four years. Stellantis’ 2025 loss also led the company to suspend its dividend in 2026, leaving shareholders without a payout on top of the decline in the stock price.
Subsequent financial results showed improvement, although margins remained thin. Second-quarter revenue rose 13% to €43.5 billion, while net profit reached €293 million. Adjusted operating income margin stood at 1.8%, with Enlarged Europe still posting a loss on that measure.
Positive industrial free cash flow of €1 billion during the quarter helped reduce the first-half deficit to €921 million. Stellantis had €44.1 billion in available industrial liquidity at the end of June and expects to return to positive industrial free cash flow on a full-year basis in 2027, according to official results.
In North America, third-quarter shipments to dealers fell 12%, mainly because of previously planned production interruptions. A 10% increase in Europe limited the worldwide decline to 1%, with total shipments reaching around 1.3 million vehicles. Financial results due on October 28 will provide a new update on profitability and the outlook for the recovery.