Mixed results in EU car market, Copart's strong Q1 results, Ford and Stellantis restructuring.

From Nasdaq: 2024-11-25 08:10:00

In October 2024, the European Union car market saw modest growth with 866,397 new car registrations, up 1.1% year-over-year. Germany and Spain posted increases, while France and Italy saw declines. In the first 10 months of 2024, EU registrations reached 8.9 million units, up 0.7% annually, with mixed results in key markets.

Copart’s Q1 fiscal 2025 results showed adjusted EPS of 37 cents, up 8.8% YoY, with revenues of $1.15 billion, a 12.4% increase. Service revenues were $986.3 million. Copart aims to cut 4,000 European jobs by 2027 due to weak EV demand. Ford plans to lay off 4,000 European employees, primarily in Germany and the U.K., by 2027.

Stellantis introduced the STLA Frame platform for full-size body-on-frame pickup trucks and SUVs, offering a range of up to 500 miles. The launch of the Ram all-electric pickup is delayed to the first half of 2025. Honda is advancing solid-state battery production to enhance EV range and durability, with plans to double driving ranges by 2030.

Ford’s restructuring includes layoffs and reduced production of Explorer and Capri EV models. Copart’s strong Q1 results led to a Zacks Rank #2 (Buy). Stay tuned for U.S. auto biggies’ November delivery numbers. Zacks’ Research Chief highlights a top stock set for significant gains in the coming months.



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