Hyperdrive
Carmakers Set to Lose Pricing Power in Muted Global Economy
- Strong first quarter results mask concern on softening outlook
- Stellantis, Ford leave outlook unchanged despite beat
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Carmakers from Stellantis NV to Ford Motor Co. posted gains in the first quarter, but investors are signaling that the industry is headed for difficult times.
Stellantis dipped to a three-month low Wednesday after reporting disappointing sales in Europe where a downturn is looming as consumers feel the pinch of inflation and higher interest rates.