0942 GMT - European car stocks trade lower across the board after Stellantis said it would take a 22 billion-euro write-down as part of a reset of its strategy to shift away from car stocks. Milan-listed shares in Stellantis plunge 23%, which would be the stock's worst one-day performance since the company was created in 2021. Sweden's Volvo Car and France's Renault both drop around 4%, with Germany's Volkswagen is down 2.1%. Makers of premium and luxury cars take a hit as well, with Porsche shares falling more than 3%, and Ferrari, BMW and Mercedes-Benz all down. In U.S. premarket trading, Ford Motor and General Motors--which disclosed their own multibillion-dollar charges on their respective EV businesses last year--are little moved. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

European car stocks trade lower across the board after Stellantis said it would take a 22 billion-euro write-down as part of a reset of its strategy to shift away from electric vehicles. "Stellantis Write-Down Puts Brakes on European Car Stocks -- Market Talk," at 0942 GMT, incorrectly said Stellantis's strategy reset would shift away from car stocks.

(END) Dow Jones Newswires

February 06, 2026 04:57 ET (09:57 GMT)

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