Posted 1/23/2024, 6:39:29 PM
Stellantis Aims to Grow Commercial Vehicle Business to 50% of Revenue by 2030, Analysts Bullish on Stock
- Stellantis plans to expand its presence in the commercial vehicle market, with a goal of generating 50% of revenue from this segment by 2030
- It currently holds a 30% market share in Europe and has grown global commercial vehicle sales 12% year-over-year
- It offers a range of commercial vehicles including vans, pickups, and a "micro-mobility" vehicle
- Stellantis' CEO warned automakers against joining the EV price war started by Tesla
- Analysts have a Strong Buy rating on Stellantis stock with an average price target 21.7% above current levels