Ford, GM, Stellantis Join Crypto Firms In Trump-Era Banking Charter Race: Report

China's market regulator approved Geely's acquisition of a 34% stake in Ford España, Ford Motor's Spanish subsidiary, without conditions. The approval was announced on Monday.

Stellantis and Tata Motors (TMPV) signed an agreement to develop and manufacture vehicles in India for over 50 global markets. TMPV will provide Stellantis with access to its technology and vehicle architecture. The vehicles will be built by their joint venture, Fiat India Automobiles Private Limited (FIAPL), in Pune, India.

Stellantis (STLA) shares fell 2.23% after reporting a 1% year-over-year drop in Q3 shipments to 1.3 million vehicles, a 19% decline from Q2. The decline was driven by a 12% drop in North America, offset by a 10% increase in Europe. The company attributes the North American drop to planned production cuts affecting Jeep models, while European growth was driven by battery-electric vehicle sales.

Stellantis reported a 1% global sales decline in Q3, with European sales up 10% but North American sales down 12%. The company, which includes brands like Fiat and Jeep, faces challenges in the US market, including overproduction and falling prices. New CEO Antonio Filosa is focusing on combustion engines for large SUVs and pickup trucks.

European automakers, including Stellantis and Renault, launched new models at the Paris car show to counter Chinese competition. The EU and China agreed to cap Chinese hybrid vehicle imports at 350,000 annually, affecting BYD, Chery, and SAIC's MG. Chinese brands are expanding in Europe, with some planning local production. Volkswagen reported a 14.3% drop in Q3 deliveries, while Stellantis and Renault plan to boost EV production.

Federal regulators are investigating reports of grille parts detaching from certain 2022-24 GMC Sierra 1500 models, despite a previous recall. GM has addressed 100+ complaints, including 21 involving previously repaired grilles. No injuries have been reported. GM is cooperating with the investigation, according to a spokesperson.