Stellantis shares fall 3.88% after component shortage disrupts Fiat model production
Key Facts
Stellantis shares fell 3.88% on the Milan Stock Exchange on November 3, after the company disclosed that a shortage of an electronic component from a supplier caused major production disruptions for some Fiat models in October. The component is used in the N3 GSE engine control unit, according to a Stellantis statement on the shortage’s impact on Italian production. The company said current supply problems could continue to affect production in November and December. The potential impact is concentrated at the Pomigliano d'Arco plant, where the Pandina is produced, and the Mirafiori plant, where the Fiat 500 is produced. The shares fell in a session in which Italy’s FTSE MIB index closed down 0.01%, according to ANSA.
Reuters reported that the shortage weighed on October sales, particularly the Fiat Pandina small car, and could lead to further problems, including production stoppages at Pomigliano and Mirafiori. Stellantis said it was working with Fiat and suppliers "with the highest priority to identify alternative solutions and gradually restore normal operations." The company links the supply disruption to a specific component for the engine unit, while its potential effects extend to car assembly lines. If the problem continues in November and December, the disruption could extend beyond the month of shortages the company recorded in October. Its statement did not specify the volume of affected production or the expected duration of any further stoppage.
The potential risks extend to Italian sites that make engine components, including the Termoli plant, where the N3 GSE engine used in the Pandina and Fiat 500 is assembled, Reuters reported. This adds the plant to the picture of the affected supply chain, from the component supplied by an outside party to the engine and then the car production lines. At Mirafiori, production had already been halted for three weeks starting in mid-October because of a separate component shortage, Reuters reported. A labor union cited weak demand for the Fiat 500 as one factor behind that stoppage. This earlier disruption is separate from the electronic component shortage that Stellantis said affected some Fiat models in October.
Italian registration data presented a mixed picture of the brand’s and the company’s performance in October. Fiat registered 12,259 cars, with a market share of 9.3%, while its registrations since the start of the year totaled 156,734 cars, up 27.2% from the corresponding period, according to Stellantis. The Pandina was Italy’s most-registered car during the month, with 7,198 cars despite product availability constraints. By contrast, ANSA said Stellantis registrations in Italy fell 5.5% year on year in October, while the overall Italian market grew 4.8%. These figures indicate that the Pandina’s top ranking did not prevent a decline in the group’s registrations in a month when the availability of some models was affected.
Stellantis registered 31,865 cars in Italy in October, with a market share of 24.2% including Leapmotor, according to the company’s statement. In the first ten months of 2026, the group’s registrations totaled 411,825 cars, up 12.1% from the same period a year earlier. Fiat’s registrations since the start of the year totaled 156,734 cars, up 27.2%, putting October’s weakness in the context of stronger cumulative performance for the brand. The supply disruptions come as Stellantis reported that its net revenue in the third quarter rose 1% year on year to 37.6 billion euros. But it recorded a net loss of 0.5 billion euros in the same quarter.
Stellantis maintained its 2026 financial guidance, and Chief Executive Antonio Filosa said the company expected positive industrial free cash flow in 2027. In the near term, the company said the effects of supply problems could continue through November and December, with the impact focused on the Pomigliano and Mirafiori plants. Stellantis and Fiat are working with suppliers on alternative solutions to gradually restore operations, Reuters quoted the company as saying. Production at the two plants will remain tied to how quickly the component shortage is addressed and supplies are available over the next two months. The shares fell in the November 3 session, while Italy’s index ended the session slightly lower.