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Stellantis (STLA) Jeep to Go All-Electric in Europe by 2022-End

·3 min read

Stellantis NV’s STLA auto brand, Jeep, recently announced plans to stop selling non-electrified vehicles in most European markets by the end of this year. However, its plan for the same in the United States, which happens to be its biggest and most important market, is considerably less clear.

The brand intends to sell only hybrids in Europe in the near future and has a small electric crossover planned for the market soon. The progress is much slower in the United States, despite the success of the brand’s 4xe models. However, Stellantis plans to generate half of its sales from electric vehicles (EVs) in North America by the decade's end.

The brand has already tackled the 22-mile trail on electric power alone, with the Grand Cherokee Trailhawk 4xe testifying that Jeep is technically equipped to go off-roading on battery power alone. The concern remains majorly over the issue of power grids in the country and the bandwidth required to support the massive upheaval the firm has planned regarding EVs.

There have been promises from the Biden administration to move the country toward EVs. That is a bright spot, as it is likely that efforts will be made to develop the country’s power situation, which is a prerequisite.

Shares of STLA have fallen 36.6% over the past year compared with its industry’s 31.4% decline.

Zacks Investment Research
Zacks Investment Research


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Zacks Rank & Other Key Picks

Stellantis carries a Zacks Rank #2 (Buy), currently.

Some other top-ranked players in the auto space are Wabash National Corporation WNC, sporting a Zacks Rank #1 (Strong Buy) and Fox Factory Holdings FOXF and Standard Motor Products SMP, each carrying a Zacks Rank #2 currently. You can see the complete list of today’s Zacks #1 Rank stocks here.

Wabash National has an expected earnings growth rate of 239.3% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant in the past 30 days.

Wabash National’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one. WNC pulled off a trailing four-quarter earnings surprise of 51.26%, on average. The stock has declined 9% over the past year.

Fox Factory has an expected earnings growth rate of 14.9% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 1% upward in the past 30 days.

Fox Factory’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. FOXF pulled off a trailing four-quarter earnings surprise of 10.18%, on average. The stock has declined 46.1% over the past year.

Standard Motor has an expected earnings growth rate of 5.2% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 3.1% upward in the past 30 days.

Standard Motor’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. SMP pulled off a trailing four-quarter earnings surprise of 40.34%, on average. The stock has declined 14.5% over the past year.


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