Hedge funds are betting against the debt and equity of some of Europe’s largest carmakers, as the sector struggles to cope with growing competition from China.
Funds have upped their bets against the long-dated and perpetual debt of Stellantis, Volkswagen, BMW and Mercedes-Benz this year — with bonds issued by the first two of these among the most shorted in Europe — on concerns that an influx of Chinese competitors, sluggish demand and US tariffs pose long-term threats to the European industry.
Carmakers’ equity is also being targeted, with tens of billions of euros wiped off the sector’s market value this year. Marshall Wace and Two Sigma were among those running short bets, according to data group Breakout Point.
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