Detroit-based automaker Stellantis NV (NYSE:STLA) will reportedly extend its employee pricing program until early June.
What Happened: Dealers learned that the company's "Employee Pricing For All" program, which was set to expire in May, will continue till the month of June, The Detroit News reported on Thursday.
The report suggests that the employee discounts program, which was originally called the "Freedom of Choice" program, can be combined with other select incentives offered on various models.
STLA did not immediately respond to Benzinga’s request for comment.
Why It Matters: Stellantis could be taking a page out of fellow Detroit-based company Ford Motor Co.'s (NYSE:F) book, as the company CEO Jim Farley recently announced Ford will extend its ';From America, For America' program through July.
Stellantis had recently suspended its stock outlook, citing the uncertainty in the auto industry due to President Donald Trump's auto tariffs. The company reported a 14% YoY decline in revenue and its shipments saw a decline as well.
On the other hand, Stellantis also told investors that it was shifting some production activities into the U.S. from Mexico, in what the company says could help it dodge some of the tariffs imposed by the Trump regime.
Price Action: STLA experienced a 1.94% increase in value at market close and currently trades for $9.46 on the NYSE, according to Benzinga Pro data.
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