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General Motors Co. emerged from the bankruptcy of General Motors Corp. (old GM) in July 2009. GM has eight brands and operates under four segments: GM North America, GM International, Cruise, and GM Financial. The United States now has four brands instead of eight under old GM. The company regained its us market share leader crown in 2022, after losing it to Toyota due to the chip shortage in 2021. 2023's share was 16.5%. GM's Cruise autonomous vehicle arm has previously done driverless geofenced AV robotaxi services in San Francisco and other cities but stopped in late 2023 after an accident. It restarted service in 2024 but not in California. GM owns over 80% of Cruise. GM Financial became the company's captive finance arm in October 2010 via the purchase of AmeriCredit.

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GENERAL MOTORS ORD

Advance Auto Parts, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) shares are trading lower by 5.3% to $39.20 during Monday&#8217;s session. Shares of auto supplier stocks may be under pressure following <a href="https://www.benzinga.com/markets/equities/24/09/41089577/whats-going-on-with-stellantis-stock-monday">weak guidance</a> from Stellantis, which could be causing concern for the sector.
What Happened: Shares of Advance Auto Parts fell sharply Monday, following the announcement from Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) that the global automaker revised its fiscal 2024 guidance.
The Stellantis report, which sent shockwaves across the auto sector, also led to declines in other major automakers like General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), with market concerns growing over weakened auto sales, supply chain constraints, and profitability.
Read Also: <a href="https://www.benzinga.com/etfs/sector-etfs/24/09/41098327/longshoremen-strike-looms-standoff-could-cost-1b-a-day-leave-thanksgiving-prep-in-a-pinch">Longshoremen Strike Looms, Standoff Could Cost $1B A Day, Leave Thanksgiving Prep In A Pinch</a>
Stellantis, the parent company of brands like Chrysler, Dodge and Jeep, cut its adjusted operating margin expectations to a range of 5.5%-7.0%, down from its prior double-digit growth targets. The company also projected negative industrial free cash flow for fiscal 2024, between -€5 billion to -€10 billion, a stark contrast to previous expectations of positive cash flow. 
These financial adjustments are attributed to substantial shipment declines in North America, increased incentives on aging vehicle inventories, and overall deterioration in global market conditions, which many analysts believe could signal broader challenges for the automotive and aftermarket parts industries.
What Else: Advance Auto Parts, a leading provider of aftermarket automotive parts, is particularly sensitive to fluctuations in the broader automotive sector. While the company primarily caters to the DIY market and professional repair shops, any slowdown in new car sales and production impacts the demand for aftermarket parts. 
Stellantis' announcement of declining shipments — now expected to reduce by over 200,000 vehicles in the second half of 2024 — suggests fewer cars on the road and in need of parts over the near term. 
Additionally, the increased incentives to push older model-year vehicles could mean reduced profitability for automakers, which often translates into leaner inventory and less need for replenishment in parts.
Read Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/41100587/s-p-500-etf-titans-drive-691b-in-2024-inflows-nasdaq-bitcoin-etfs-close-behind">S&amp;P 500 ETF Titans Drive $691B In 2024 Inflows: Nasdaq, Bitcoin ETFs Close Behind</a>
<h2 class="wp-block-heading">Is AAP A Good Stock To Buy?</h2>
An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages &#8211; like <a href="https://www.benzinga.com/quote/AAP">Advance Auto Parts</a>&#8216;s page for example &#8211; there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.
These are known as capital allocation programs. Advance Auto Parts does pay a dividend, which yields 1.64% per year as of the closing price on Sep. 30, 2024. Feel free to search Benzinga's <a href="https://www.benzinga.com/calendars/dividends">dividend calendar</a> for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.
For example, if you're looking to earn an annualized return of 8.89%, you'll need to buy a share of Allspring Inc Opps by the Oct. 15, 2024. Once done, you can expect to receive a nominal payout of $0.05 on Nov. 1, 2024.
Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on <a href="https://www.benzinga.com/quote/AAP">Advance Auto Parts</a> will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, AAP has a 52-week high of $88.56 and a 52-week low of $37.51.

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Why Advance Auto Parts (AAP) Stock Is Trading Lower

Shares of General Motors Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) are experiencing declines amid broad weakness in the auto sector following Stellantis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) <a href="https://www.benzinga.com/markets/equities/24/09/41089577/whats-going-on-with-stellantis-stock-monday">lowering its full-year 2024 guidance.</a>
What To Know: Stellantis has revised its adjusted operating margin expectations to a range of 5.5%–7.0%, a drop from the double-digit growth previously forecasted. Additionally, the company now anticipates industrial free cash flow for fiscal 2024 to fall between negative €5 billion and negative €10 billion, reversing its earlier positive outlook.
This revision comes as Stellantis faces challenges with North American performance and broader global industry deterioration. The automaker is taking several remedial steps, including cutting North American shipments by over 200,000 vehicles in the second half of 2024—double the previous guidance of 100,000—while increasing incentives on older model-year vehicles to stimulate demand. These actions follow the company's earlier report of a 14% revenue decline in the first half of 2024, with net profit dropping by 48%.
GM And F Price Action: General Motors shares were down by 2.61% at $44.80 and Ford shares were down by 2.41% at $10.52 at the time of writing, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
Image via Unsplash.

Why Are General Motors And Ford Shares Trading Lower Today

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Live On CNBC, Sarat Sethi Announces Sold General Motors Company

With a looming dockworkers' strike on the East and Gulf Coasts set to begin Oct. 1, major companies like Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) are bracing <a href="https://www.benzinga.com/news/24/09/40906726/us-port-strike-in-october-could-lead-to-major-supply-chain-disruptions-says-container-trade-expert">for substantial disruptions</a>.
The strike, led by the International Longshoremen&#8217;s Association, could shut down 36 ports from Maine to Texas, potentially halting half of the goods entering and leaving the U.S.
<h2 class="wp-block-heading">Retail &amp; Tech Sectors At Risk</h2>
Retail giants like Amazon and Apple are particularly vulnerable. They rely heavily on East Coast ports to bring in consumer electronics and inventory. Delays could hit these companies with the holiday shopping season around the corner.
Amazon's ability to meet demand for everything from household goods to electronics may suffer, while Apple risks product shortages on key items like the iPhone 15, iPhone 16 and MacBooks, all critical to its revenue in the fourth quarter.
Read Also: <a href="https://www.benzinga.com//node/41059881">Costco Gears Up For Potential US Port Strikes As CEO Stresses Proactive Steps: America Could &#8216;Get Holiday Goods In Ahead Of This Time Frame&#8217;</a>
<h2 class="wp-block-heading">Automotive Sector May Feel The Pinch</h2>
Tesla could also face a significant blow as it sources essential components globally. The Ports of New York/New Jersey are critical for Tesla's supply chain, and any prolonged shutdowns could delay deliveries and increase manufacturing costs. Other automakers, like Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), could also struggle with supply bottlenecks for parts, further squeezing a sector already battling rising costs.
<h2 class="wp-block-heading">Inflation Pressures Could Rise</h2>
The Toy Association has expressed concerns that 60% of toy sales occur in the fourth quarter, and major toy companies like Mattel Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) and Hasbro Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) could face inventory shortages, driving up prices.
Agriculture and food companies reliant on East Coast ports, such as Tyson Foods Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>), may also face delays in getting goods to market, worsening consumer inflation.
Business leaders and investors are watching closely, as a prolonged strike could have far-reaching consequences on multiple sectors, potentially pushing inflation higher and slowing economic growth.
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/41012532">China&#8217;s Exports At Risk From Anticipated US Port Strikes, Typhoons, Golden Week, Warns Container Trade Expert</a></li>
</ul>
Photo: Wayne Via/Shutterstock.com

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Amazon, Apple, Tesla Brace For Supply Chain Disruptions As Potential East Coast Dockworkers Strike Nears

To gain an edge, this is what you need to know today.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2024/09/2024-09-30_08h18_55.png" alt="" style="width:624px" /></figure>
<h3 class="wp-block-heading">Chinese Market Breaks Negative Pattern</h3>
Please <a href="https://thearorareport.com/chart-analysis-stock-market-fomo-driving-chinese-market-breaks-negative-pattern-ashr-mc-09302024">click here</a> for an enlarged chart of Xtrackers Hvst CSI 300 China A Shs ETF Class A (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASHR#NYSE">ASHR</a>).
Note the following:
<ul>
<li>In a prior article, we shared with you details of China's stimulus program. Prior to last Tuesday, Chinese stocks had been beaten down and had been trading at low valuations.</li>
<li>The chart shows that the Chinese stock market has broken the negative pattern of lower highs.</li>
<li>The chart shows that the pattern existed from the 2021 peak until last week.</li>
<li>When the rally first started, the concern was that this rally would also fail like prior rallies. Initially, it was simply prudent to consider the rally in Chinese stocks last week to be suspect.  The chart shows that even the COVID opening rally failed, and the subsequent AI rally also failed.</li>
<li>The chart shows that the rally is on high volume. This indicates conviction and provides confirmation for the rally.</li>
<li>RSI on the chart shows that the Chinese stock market is very overbought. Overbought markets tend to pullback in the short term.</li>
<li>In Shanghai, the CSI 300 jumped 8.5%. This is the biggest single day gain since 2008.</li>
<li>The five day gain in Shanghai is the strongest since 1996.</li>
<li>The chart shows that this rally has decisively broken the downtrend like a rocketship.</li>
<li>From a technical perspective, such strong rallies tend to take stocks higher after a brief pullback.</li>
<li>The rally is partly driven by fear of missing out (FOMO) among foreign investors who are rushing into China.</li>
<li>Money is flowing out of safer Chinese 30 year Treasury bonds and into Chinese stocks. Chinese 30 Treasury bond futures fell to a two month low after losing 3.6% last week.  This is the worst quick loss ever.</li>
<li>For the day, the economic data from China is poor. China's PMIs are weak. Here are the details:
<ul>
<li>Manufacturing PMI came at 49.8 vs. 49.4 consensus.</li>
<li>Non-manufacturing PMI came at 50.0 vs. 50.4 consensus.</li>
<li>A number less than 50 is considered economic contraction.</li>
<li>Expectations are that China's PMIs will spike up in the coming months due to government stimulus.</li>
</ul>
</li>
<li>As full disclosure, The Arora Report has published new buy zones for Xtrackers Hvst CSI 300 China A Shs ETF Class A (ASHR) and iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>) in The Arora Report&#8217;s ZYX Emerging. There is also a new buy zone for emerging markets consumer Columbia Research Enhanced Emerging Economies ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECON#NYSE">ECON</a>) in The Arora Report&#8217;s ZYX Emerging. Emerging market consumers are getting rich and provide one of the best opportunities for long term investors. Instead of chasing the price on Chinese stocks and ETFs, prudent investors should consider being highly selective. </li>
<li>In The Arora Report analysis, investors are ignoring two risks in China:
<ul>
<li>The traditional geopolitical risk, especially related to Taiwan.</li>
<li>The risk of Trump being elected. Trump is proposing 100% &#8211; 200% tariffs on Chinese goods. Such tariffs will negate much of the benefit from the Chinese government stimulus.</li>
</ul>
</li>
<li>Unlike last week, the optimism from China is not carrying to the U.S. for the following reasons:
<ul>
<li>Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>), the owner of Chrysler, Jeep, and Fiat, is giving poor guidance.</li>
<li>Volkswagen A G Unsponsored Represent 1 10th Sh ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) is also providing poor guidance.</li>
<li>Stocks of General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) are coming under pressure.</li>
<li>Negative sentiment from Europe is carrying to the U.S.</li>
<li>East coast dock workers may go on strike, disrupting commerce.</li>
</ul>
</li>
<li>Also not helping this morning is that quarter end window dressing is almost over.&nbsp; In window dressing, some money managers buy the best performing stocks of the quarter so that they can show their clients in the quarter end reports that they were holding the best performing stocks.&nbsp; This was partially the reason for the recent strength in NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and other AI stocks.</li>
</ul>
<h3 class="wp-block-heading">Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).
In the early trade, money flows are neutral in Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), and Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).
In the early trade, money flows are negative in Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and NVDA.
In the early trade, money flows are negative in SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h3 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h3>
Investors can gain an edge by knowing money flows in SPY and QQQ.  Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.  The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).  The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>).  The most popular ETF for oil is United States Oil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>).
<h3 class="wp-block-heading">Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is seeing some selling along with junk stocks.
<h3 class="wp-block-heading">Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h3 class="wp-block-heading">Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

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FOMO Drives Biggest Gain In Shanghai Since 2008, Chinese Market Breaks The Negative Pattern

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National Highway Traffic Safety Administration Says General Motors Self-Driving Unit Cruise Will Pay $1.5M Fine After It Failed To Fully Report Crash Involving Pedestrian To U.S. Agency

By <a href="https://elplanteo.com/author/lucia-tedesco/" target="_blank" rel="noreferrer noopener">Lucía Tedesco</a> via <a href="https://elplanteo.com/cadillac-sollei-descapotable-hongos/">El Planteo</a>
General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>)&#8217;s Cadillac has introduced a groundbreaking new concept: the <a href="https://elplanteo.com/cadillac-sollei-descapotable-hongos/">Cadillac Sollei</a>, a luxury electric roadster that represents the future in a post-combustion era. Crafted with bio-based materials like mycelium, the root structure of fungi, the Sollei showcases an innovative approach to sustainable vehicle design.
According to <a href="https://www.topgear.com/car-news/concept/cadillac-sollei-concept-a-stunning-electric-roadster-created-mushrooms">Topgear</a>, the Sollei features a sleek, low-slung design with eye-catching exterior details, such as the "Manila Cream" paint, which draws inspiration from Cadillac's classic 1950s models.
<h2 class="wp-block-heading">
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</blockquote>
 Cadillac Sollei: A Prototype Made From Fungi</h2>
What sets the Cadillac Sollei apart is the unique materials used in its construction. For the first time, Cadillac has incorporated mycelium to create parts of the vehicle's interior. This renewable, biodegradable material, derived from fungi, offers a sustainable alternative to plastics and other synthetic compounds that have long dominated the automotive industry.
See also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40958089/scientists-gave-lsd-to-autistic-dogs-mind-blowing-brain-changes-deepened-connections-with-humans">Scientists Gave LSD To Autistic Dogs: Mind-Blowing Brain Changes Deepened Connections With Humans</a>
Natural wood and leather, which shift in color with changes in ambient light, add another layer of sophistication to the Sollei's design. The vehicle features a stunning 55-inch display that spans the dashboard, offering an intuitive user interface that controls everything from ambient lighting—available in 126 color options—to music and climate settings.
One of the most surprising features of the Sollei is its metal roof, known as the "daybreak," which allows sunlight to flood the car's interior, creating a vibrant driving experience.
While details on a potential market release are still unknown, Cadillac's use of eco-friendly materials in vehicle production opens up new possibilities for the future of the automotive industry.
This article is from an external unpaid contributor. It does not represent Benzinga&#8217;s reporting and has not been edited for content or accuracy.

Cannabis

Psychedelics

A Car Made With Mushrooms? Meet Cadillac's Newest Luxury Electric Car, The Cadillac Sollei

Macro Economic Events

Economics

BABA

Benzinga Market Summary: Chinese Stocks Continue Higher Amid Stimulus Measures, Autos Drop On Weak Stellantis Guidance

Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) stock is plunging Monday after it revised its <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g41084649/stellantis-updates-2024-financial-guidance" rel="noreferrer noopener">fiscal 2024 guidance</a> to reflect its remediation actions on North American performance issues and deterioration in global industry dynamics. Auto rivals, including&nbsp;General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and&nbsp;Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), are trading lower in sympathy with Stellantis.
The company projects a fiscal 2024 adjusted operating margin of 5.5%—7.0%, down from its prior <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39959183/stellantis-ceo-earnings-fell-short-of-expectations-expect-20-new-vehicles-this-year" rel="noreferrer noopener">double-digit growth expectations</a>.
It now expects fiscal 2024 industrial free cash flow of negative 5 billion euros—negative 10 billion euros versus the prior positive cash flow expectations.
The automotive company targets 330,000 units of dealer inventory by year-end 2024 in the U.S., from a prior timing objective of the first quarter of 2025.
The company&#8217;s remediation actions include North American shipment declines of more than 200,000 vehicles in the second half of 2024 (up from 100,000 prior guidance) compared to the previous year period, increased incentives on 2024 and older model-year vehicles, and productivity improvement initiatives.
In July, Stellantis NV reported a <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39959183/stellantis-ceo-earnings-fell-short-of-expectations-expect-20-new-vehicles-this-year" rel="noreferrer noopener">14% topline decline</a>, reaching revenue of 85 billion euros ($91.53 billion) in the first half of 2024. Combined shipments declined by 12%, and the net profit plunged by 48%.
On a positive note, <a target="_blank" href="https://www.benzinga.com/government/24/09/41004045/whats-going-on-with-chinese-stocks-alibaba-nio-xpeng-li-auto-on-tuesday" rel="noreferrer noopener">the U.S. Fed cut</a> the lending rate by 50 bps, lowering the central bank&#8217;s benchmark rate to 4.75%-5% to spur demand. Analysts expect the cut to drive growth in discretionary spending.
Stellantis stock is down over 30% year-to-date.
Price Action: STLA stock is down 13.3% at $13.91 premarket at last check Monday.
Photo by Jonathan Weiss on Shutterstock

Guidance

Movers

What's Going On With Stellantis Stock Monday?

WIIM

Shares of auto companies are trading lower in sympathy with Stellantis, which fell after lowering its FY24 guidance.

Electric-vehicle stocks finished the week ended Sept. 27 mostly higher, with industry leader Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Chinese startups leading the charge. Investors piled into Tesla ahead of some stock-specific catalysts scheduled for October. Chinese EV makers rode on the positive sentiment generated by <a href="https://www.benzinga.com/opinion/24/09/41053956/a-win-either-way-trade-on-chinas-new-stimulus-package">China announcing stimulus measures</a> to reinvigorate domestic growth.
Here&#8217;s a rundown on what happened in the EV space during the week:
Tesla China Strength Continues: Weekly insured registrations data out of China showed a fairly strong 13,800 Tesla EVs were registered in the week of Sept. 16-22, down 11.54% from 15,600 in the previous reporting week, CnEVPost&nbsp;<a href="https://cnevpost.com/2024/09/24/china-ev-insurance-registrations-week-ending-sept-22-2024/" target="_blank" rel="noreferrer noopener">reported,&nbsp;</a>citing data from&nbsp;Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>). Commenting on the number, Future Fund's&nbsp;Gary Black&nbsp;said the performance has come despite a two-day Mid-Autumn Festival national holiday. Through 12 weeks, third-quarter deliveries were up 18.5% year-over-year and 19.9% higher than the previous quarter, he said. &#8220;Still on track for TSLA China&#8217;s best quarter ever,&#8221; he added.
It appears to be Tesla China is benefiting from incentivizing sales. The company has extended its five-year, zero-interest financing program for made-in-China Model 3 and Model Y variants until the end of October. This could set off worries concerning further margin erosion. More details regarding the margin impact of the zero-interest financing would be known when the company reports its third-quarter results in late-October.
Analysts are modeling a third-quarter deliveries beat, primarily due to the China strength even as the European region has remained a sore spot. Barclays analyst Dan Levy said in a note he expects third-quarter deliveries of 470,000 units, above the consensus estimate of 461,000 units.&nbsp;Wedbush&#8217;s Daniel Ives expects sales to trump the consensus forecast and also the whisper number of 465,000-470,000 units. &#8220;We believe 3Q will provide a solid rebound looking to 2H for the company as China continues to heat up and price/demand stabilization has continuously been seen throughout the quarter,&#8221; he said.
Rivian Snags A Downgrade: Morgan Stanley&#8217;s Adam Jonas downgraded Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) shares from Overweight to Equal-Weight and also cut the price target from $16 to $13. The analyst said his downgrade was due to the incorporation of the capital intensity of autonomous vehicle/autonomous driver assistance system which may be required to fulfill the technological underpinnings that attracted Volkswagen AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) as a JV partner. <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39506950/volkswagens-rivian-investment-de-risks-future-growth-plans-but-funding-isnt-free-7-">Rivian struck a partnership with the German automaker</a>, which provided it with a $5 billion investment.
Jonas raised his annual capex estimate for Rivian by $200 million to $300 million per year, beginning in 2026. He also pointed out the uncertainty regarding the cost structure of the joint venture.
See Also: <a href="https://www.benzinga.com/money/best-electric-vehicle-stocks">Best EV Stocks</a>
Canoo Launches In UK: Struggling EV startup Canoo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOEV#NASDAQ">GOEV</a>) announced this week it is officially launching in the U.K. by establishing Canoo Technologies UK Limited. The company said it has selected Bicester Motion, a former WWII Royal Air Force base, as a key location that reflects the company's spirit of innovation and commitment to sustainability. &#8220;This move signifies a pivotal step in Canoo's global expansion, setting the stage for the company to introduce groundbreaking commercial electric vehicle (EV) solutions to the UK,&#8221; the company said in a statement.
On the flipside, TechCrunch <a href="https://techcrunch.com/2024/09/27/canoo-hit-with-two-supplier-lawsuits-as-last-remaining-co-founder-leaves/">reported</a> that Canoo&#8217;s senior director of advanced vehicle engineering Christoph Kuttner, the last of the co-founders from the team of nine that founded the company in late-2017, has quit. The report also said the company has been hit with two new lawsuits from suppliers linked to the drivetrains that power its electric vehicles.
Nio Begins ONVO L60 Deliveries: Chinese EV startup Nio, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) on Saturday started deliveries of its first-ever low-end EV rolled out under the ONVO brand name, CnEVPost reported. The Shanghai-based EV maker is currently pushing out the L60 with a 60-kWh battery pack, and deliveries of long-range vehicles with an 85-kWh pack are expected to begin in December. Sales of the EV began Sept. 19 at a starting price of 206,900 yuan ($29,510), and if the battery is leased, the model would be cheaper. The launch of the vehicle is important as it is pitched against Tesla&#8217;s best-selling Model Y vehicle.
GM Teams Up To Launch Fastest Charging EV Battery: Legacy automaker General Motors Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and its Chinese joint venture partner SAIC have joined hands with battery giant CATL to roll out the fastest-charging EV battery, CnEVPost <a href="https://cnevpost.com/2024/09/26/saic-gm-catl-launch-battery-6c-charging/">reported</a>. The battery is based on lithium-iron-phosphate chemistry that would supports 6C ultra-fast charging.
The KraneShares Electric Vehicles and Future Mobility&nbsp;Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>) rose 3.39 on Friday before ending at $22.51, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>. For the week, the ETF raced 16.51% higher. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/41047267/safety-disaster-tesla-fsd-galaxies-away-from-being-anywhere-close-to-competition-says-bearish-analys">&#8216;Safety Disaster:&#8217; Tesla FSD &#8216;Galaxies Away From Being Anywhere Close To Competition,&#8217; Says Bearish Analyst, As He Assigns Zero Valuation To The Tech</a></li>
</ul>
Here&#8217;s how the EV stocks fared this week:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Weekly Change (+/-)</td>
</tr>
<tr>
<td>Tesla</td>
<td>+9.32%</td>
</tr>
<tr>
<td>Nio</td>
<td>+23.49%</td>
</tr>
<tr>
<td>XPeng, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>)</td>
<td>+32.50%</td>
</tr>
<tr>
<td>Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>)</td>
<td>+19.68%</td>
</tr>
<tr>
<td>Workhorse, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>)</td>
<td>+24.08%</td>
</tr>
<tr>
<td>Hyzon Motors, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYZN#NASDAQ">HYZN</a>)</td>
<td>+14.47%</td>
</tr>
<tr>
<td>Canoo</td>
<td>+5.94%</td>
</tr>
<tr>
<td>Rivian </td>
<td>-0.94%</td>
</tr>
<tr>
<td>Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>)</td>
<td>+2.87%</td>
</tr>
<tr>
<td>Faraday Future </td>
<td>-17.51%</td>
</tr>
<tr>
<td>Nikola Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>)</td>
<td>-14.71%</td>
</tr>
<tr>
<td>VinFast Auto Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>)</td>
<td>+7.10%</td>
</tr>
</tbody>
</table>
</figure>

Analyst Color

Media

GOEV

HYZN

KARS

LCID

NKLA

RIVN

WKHS

XPEV

Tesla Analysts Brace For Q3 Sales Beat, Rivian Loses A Bull, Canoo Drives Across The Atlantic And More: Biggest EV Stories Of The Week

Whales with a lot of money to spend have taken a noticeably bullish stance on General Motors.
Looking at options history for General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 25% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $93,445 and 6, calls, for a total amount of $453,375.
<h3>What's The Price Target?</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $38.0 to $52.5 for General Motors during the past quarter. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of General Motors stands at 1948.0, with a total volume reaching 6,072.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in General Motors, situated within the strike price corridor from $38.0 to $52.5, throughout the last 30 days.
<h3>General Motors Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727460276_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$5.25</td>
<td>$5.15</td>
<td>$5.25</td>
<td>$43.00</td>
<td>$157.5K</td>
<td>611</td>
<td>300</td>
</tr>
<tr>
<td>GM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$1.42</td>
<td>$1.38</td>
<td>$1.38</td>
<td>$52.50</td>
<td>$138.0K</td>
<td>5.4K</td>
<td>1.0K</td>
</tr>
<tr>
<td>GM</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>12/20/24</td>
<td>$5.15</td>
<td>$4.8</td>
<td>$4.95</td>
<td>$50.00</td>
<td>$49.5K</td>
<td>529</td>
<td>100</td>
</tr>
<tr>
<td>GM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/04/24</td>
<td>$0.14</td>
<td>$0.11</td>
<td>$0.11</td>
<td>$49.00</td>
<td>$48.4K</td>
<td>146</td>
<td>4.4K</td>
</tr>
<tr>
<td>GM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$4.35</td>
<td>$4.3</td>
<td>$4.35</td>
<td>$49.00</td>
<td>$43.9K</td>
<td>2.4K</td>
<td>101</td>
</tr>
</tbody>
</table>

<h3>About General Motors</h3>
General Motors Co. emerged from the bankruptcy of General Motors Corp. (old GM) in July 2009. GM has eight brands and operates under four segments: GM North America, GM International, Cruise, and GM Financial. The United States now has four brands instead of eight under old GM. The company regained its us market share leader crown in 2022, after losing it to Toyota due to the chip shortage in 2021. 2023's share was 16.5%. GM's Cruise autonomous vehicle arm has previously done driverless geofenced AV robotaxi services in San Francisco and other cities but stopped in late 2023 after an accident. It restarted service in 2024 but not in California. GM owns over 80% of Cruise. GM Financial became the company's captive finance arm in October 2010 via the purchase of AmeriCredit.
Following our analysis of the options activities associated with General Motors, we pivot to a closer look at the company's own performance.
<h3>Present Market Standing of General Motors</h3>
<ul>
<li>With a volume of 5,819,104, the price of GM is up 1.43% at $46.47. </li>
<li>RSI indicators hint that the underlying stock may be approaching oversold.</li>
<li>Next earnings are expected to be released in 25 days.</li>
</ul>
<h3>What The Experts Say On General Motors</h3>
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $45.25.
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&#x2A; An analyst from Morgan Stanley has revised its rating downward to Underweight, adjusting the price target to $42. 
&#x2A; In a cautious move, an analyst from Deutsche Bank downgraded its rating to Hold, setting a price target of $53. 
&#x2A; In a cautious move, an analyst from Bernstein downgraded its rating to Market Perform, setting a price target of $53. 
&#x2A; An analyst from Wells Fargo has decided to maintain their Underweight rating on General Motors, which currently sits at a price target of $33. 
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Check Out What Whales Are Doing With General Motors

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In August, the Federal Reserve's preferred inflation gauge, the <a href="https://www.benzinga.com/news/econ-s/24/09/41066122/feds-preferred-inflation-gauge-comes-in-below-expectations-for-august-easing-concerns-about-rising-p">Personal Consumption Expenditures </a>(PCE) Price Index, rose 2.2% year-over-year, coming in below analyst expectations of 2.3%. That&#8217;s down from July's 2.5%.
The core PCE, which excludes volatile food and energy prices, increased by 2.7% year-over-year, matching forecasts and slightly higher than July's 2.6%.
This decline in overall inflation, despite steady core inflation, suggests a potential easing of price pressures, even as costs for services like housing and financial services continue to rise.
Also Read: <a href="https://www.benzinga.com/markets/equities/24/09/41063577/peter-thiel-offloads-over-1b-in-palantir-stock-in-2024-as-stock-more-than-doubles">Peter Thiel Offloads Over $1B In Palantir Stock In 2024 As Stock More Than Doubles</a>
Following Friday&#8217;s PCE report, these 14 stocks showed strong momentum in premarket trading, according <a href="https://pro.benzinga.com/">to Benzinga Pro:</a>
<ul>
<li>Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) rises 3.6% to $51.94.</li>
<li>PPD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) climbs 3.8% to $134.14.</li>
<li>JD.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) is up 3.3% to $39.38.</li>
<li>Equinor ASA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) gains 2.8% to $24.89.</li>
<li>Anheuser-Busch InBev SA/NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) advances 1.5% to $66.52.</li>
<li>NetEase Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTES#NASDAQ">NTES</a>) lifts 1.7% to $92.69.</li>
<li>Nu Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>) jumps 1.3% to $14.00.</li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rockets 1.1% to $257.16.</li>
<li>Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) moves 0.9% higher to $105.80.</li>
<li>BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) ticks up 0.9% to $31.07.</li>
<li>PayPal Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) soars 1.1% to $81.03.</li>
<li>General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) inches up 0.9% to $46.24.</li>
<li>Lennar Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) posts a rise of 1.07% to $185.01.</li>
<li>Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) registers a boost of 0.7% to $110.69.</li>
</ul>
Rising costs in services, particularly in housing, financial services, and insurance, were the key drivers of inflation, pushing the overall PCE index higher. While service prices surged, goods prices saw a slight decline, helping to offset some of the inflationary pressure. Meanwhile, falling energy prices, especially gasoline, provided additional relief compared to previous periods of stronger inflationary impact from energy.
Food prices increased modestly, primarily in off-premises consumption like groceries, but their effect on inflation was smaller compared to services. 
Core inflation, which excludes food and energy, remained steady due to ongoing price increases in durable goods and essential services. Despite minor declines in goods prices, rising service costs <a href="https://www.benzinga.com/topic/inflation">kept core inflation elevated</a>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/asia/24/09/41066338/alibaba-jd-com-strike-deal-to-open-ecosystems-amid-slowing-growth-and-chinas-antitrust-pressure">Alibaba, JD.com Strike Deal To Open Ecosystems Amid Slowing Growth And China&#8217;s Antitrust Pressure</a></li>
</ul>
Photo: Shutterstock.

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