Shares of Stellantis NV (STLAM.IT) and Volkswagen AG (VOW1.DE) lost value in this week's final trading session, as some of their plug-in cars lost access to U.S. tax credits under stricter regulations that went into effect this week. The VW ID.4 crossover lost its full $7,500 tax credit, according to the latest list from the Department of Energy and the Environmental Protection Agency. Some Stellantis models also ceased to qualify for the credits.
What's more, Stellantis passenger car production at its Italian plants fell to 283,090 vehicles in 2024 (down 45.7% year-on-year), the lowest since 1956, according to data from the FIM-CISL labor union.
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Automotive stocks are once again under pressure from the supply side. Source: xStation
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