Stellantis Sales Tick up 3% in Q3, GM Sales Down 6%, Ford Sales Slip 6.6%

StoneX reiterated a Buy rating on General Motors (NYSE:GM) with a $105.00 price target, raising its EPS estimates for 2026 and 2027. GM's stock is up 44% over the past year. The firm cites truck and SUV profitability, cash generation, and share repurchases. GM reported a 5.5% decline in Q3 U.S. vehicle sales, including lower EV demand, and secured a $697.7 million contract modification for GM Defense. UBS raised its price target to $114, citing digital growth opportunities.

Stellantis NV (STLAM) stock rose 2.1% to €4.153, driven by improved Italian production data and analyst optimism about Q4 recovery. The company assembled 340,745 vehicles in Italy in 2026's first nine months, a 28% year-over-year increase. However, plant shutdowns and potential strikes capped gains. The broader market provided mild support.

General Motors reported a quadrupling of private investment in North American automotive fixed assets since the USMCA ratification. In 2025, it spent $9.3B on capital expenditures, down 14.1% from 2024, as part of its EV transition strategy. For 2026, it projects $10B-$12B in investments, including automotive operations and battery ventures. Since 2018, automakers have announced $346B in U.S. investments, driving job creation and compliance with USMCA rules.

General Motors' joint venture Ultium Cells will produce cheaper, high-energy-density lithium-manganese-rich (LMR) batteries in Tennessee. The LMR batteries, with 65% manganese and 35% nickel, will be used in full-size trucks and SUVs, offering up to 400 miles of range. GM is the second-largest EV seller in the U.S. The $1 billion factory expansion is expected to be completed by 2028, adding 500 jobs.

GM will end light-duty Silverado 1500 production in Oshawa, Ontario, in November, replacing it with GMC Sierra HD by 2028. The $144M investment follows labor talks, maintaining current employment levels. The plant currently produces Silverado models, with 2026 output expected at 114,000 trucks. GM also invested $215M in its St. Catharines propulsion plant. U.S. tariffs on Canadian-made cars are impacting Ontario's auto sector.

Stellantis NV reported that Leapmotor delivered 105,656 vehicles in September, up 2.45% from August and 59% year-on-year. The company set a new quarterly record with 310,052 vehicles delivered, growing 78% year-over-year and 26% quarter-over-quarter. Stellantis shares rose 1.3% to €4.04.