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Stellantis N.V. (NYSE:STLA) fell sharply in early buying and selling after a union in Italy warned that the semiconductor scarcity may price the automaker manufacturing of as much as 220,000 autos this yr.
“It’s as if certainly one of the group’s massive vegetation stopped for a yr,” famous FIM CISL union chief Ferdinando Uliano.
Stellantis produced 352,00 vehciles in Italy in the course of the first half of the yr, which is 14% fewer autos than it did for a similar interval in 2021.
The auto trade has been negatively impacted for nearly two years by a world semiconductor chip provide scarcity.
Shares of Stellantis (STLA) have been down 6.85% in premarket motion on Tuesday to a brand new low of $11.55 vs. the prior 52-week trading range of $12.05 to $21.99.
