Harald Hendrikse

Harald Hendrikse asked about market pricing assumptions for 2026, especially in the context of new products entering competitive white spaces and expected competitor reactions. He also inquired if the negative European pricing trend from H2 2025 would continue due to Chinese competition in Europe, EMEA, and South America, and how Stellantis plans to deal with this difficult environment.

Answer

CFO João Laranjo expects stable to slightly positive pricing in the U.S. due to tariff impacts, but continued strong competitive environment and price pressure in Europe. Globally, Stellantis expects flat pricing, with U.S. positives offsetting European pressures. CEO Antonio Filosa added that Stellantis will pursue profitability growth, leveraging new product opportunities, especially in North America where Chinese competition is not present.

Harald Hendrikse from Citigroup Inc. questioned Stellantis' market pricing assumptions for 2026, particularly in the U.S. given new products and strong competition, and whether negative pricing trends in Europe, EMEA, and South America due to Chinese competition are expected to continue. He also asked about the priority between volume and price if competitive pressure increases.

Answer

CFO Joao Laranjo stated that for the U.S., Stellantis expects a stable to slightly positive price environment, as tariff impacts continue. For Europe, a strong competitive environment and continued price pressure are anticipated. Globally, Stellantis expects pricing to be basically flat, with U.S. positives offsetting European pressures. CEO Antonio Filosa added that for South America and Middle East and Africa, increasing volumes are expected in 2026, and globally, Stellantis will pursue profitability, leveraging new product launches, especially in North America where Chinese competition is not a factor.