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Auto Giants Face Divergent Fortunes

Wall Street Journal Markets •
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Ferrari may reintroduce a manual transmission with its 12Cilindri model, potentially shown at a driving rally from June 29 to July 6. This move could help the luxury automaker exceed its 2026-30 growth targets after a 12-year absence of manual road cars. The manual gearbox addresses a resurgence in demand for premium supercars with driver-controlled shifting.

Renault reported weak new-car registrations in France at the start of Q2, with its passenger car sales declining 11% year-over-year in April and May. The French market accounts for 25% of Renault's global sales, and the brand lost 2.3 percentage points of market share, dropping to 16.2%. Dacia sales also fell nearly 4%, indicating a challenging quarter.

Stellantis unveiled aggressive 2028 and 2030 financial targets ahead of expectations, planning to restore profitability through operational efficiencies. The company expects the U.S. to contribute 55% of group profit with North American margins returning to 8%-10% by 2030 from 2025 operating losses. Despite ambitious 35% volume growth assumptions, Berenberg maintains its buy rating with a 7.80 euro price target.