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Stellantis (STLA) Recalls 1.2M Vehicles Due to Software Issue

Zacks Equity Research
·2 min read

Stellantis N.V. STLA is recalling around 1.2 million vehicles in the United States and Canada due to a software issue that can disable rearview cameras, increasing the risk of accidents.

The recall involves an over-the-air software update for various models that include 2021-2023 Chrysler Pacifica, 2021-2022 Dodge Durango, 2022 Ram 1500, 2500, 3500 and 2022-2023 Jeep Compass, Grand Cherokee, Wagoneer, Grand Wagoneer, Jeep Grand Cherokee L and Ram Promaster vehicles.

This recall affects 1.033 million vehicles in the United States and 126,000 in Canada. Per the National Highway Traffic Safety Administration (NHTSA), the issue stems from the radio software potentially preventing the display of rearview images.

Owners of the affected vehicles will see a prompt on their media screens to accept the update. Stellantis has already updated the software in more than 735,000 vehicles.

The company started investigating the problem in October 2023, examining warranty data, field records and customer assistance logs. Per Stellantis, there have been no reports of injuries or accidents related to this recall. However, it still advises owners to adhere to the recall instructions.

Per NHTSA’s data, Chrysler has recalled more than two million cars in 2024 so far. This total is distributed to more than 30 recalls.

Zacks Rank & Key Picks

STLA currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the auto space are Blue Bird Corporation BLBD, Oshkosh Corporation OSK and American Axle & Manufacturing Holdings, Inc. AXL, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The consensus estimate for BLBD’s 2024 sales and earnings suggests year-over-year growth of 17.29% and 155.14%, respectively. The EPS estimates for 2024 and 2025 have improved 63 cents and 69 cents, respectively, in the past 60 days.

The Zacks Consensus Estimate for OSK’s 2024 sales and earnings suggests year-over-year growth of 9.86% and 11.92%, respectively. The EPS estimates for 2024 and 2025 have improved 12 cents and 10 cents, respectively, in the past 30 days.

The Zacks Consensus Estimate for AXL’s 2024 sales and earnings suggests year-over-year growth of 3.05% and 544.44%, respectively. The EPS estimates for 2024 have moved up 2 cents in the past 30 days. The EPS estimates for 2025 have moved up 15 cents in the past seven days.

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Oshkosh Corporation (OSK) : Free Stock Analysis Report

Blue Bird Corporation (BLBD) : Free Stock Analysis Report

Stellantis N.V. (STLA) : Free Stock Analysis Report

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