The Stellantis group has recently led vehicle sales in several countries, including Algeria, Turkey, France, Italy, Brazil, as well as various other European and American markets.
However, the financial results for the third quarter of 2024 reveal a significant drop in revenue, attributed to a transitional phase focused on product development and inventory reduction, according to a commercial results statement released by the group.
Stellantis, which includes over 14 brands such as Citroën, Opel, Peugeot, and Fiat, remains a major player in the automotive industry, holding top sales positions in key markets since the beginning of the year. In the United States, the group’s market share reached 8% in September, showing growth since July. In Europe, Jeep sales exceeded 100,000 units.
A 27% Drop in Revenue in the Third Quarter Despite these regional successes, the group recorded a 27% decrease in revenue for the third quarter of 2024, totaling €33.0 billion. This decline is mainly due to a 20% reduction in global shipments, which amounted to 279,000 fewer units than the previous year. Stellantis has also been affected by a challenging market environment in Europe and environmental adjustments.
The shift towards new models and strategic inventory reduction in the U.S. impacted production during the third quarter, leading to a decrease in the availability of some models. However, the group has emphasized that its product launch plans are on track, with nearly 20 new models expected by the end of 2024.
Additionally, Stellantis completed a €3 billion share buyback program, thereby increasing shareholder returns to €7.7 billion in 2024. These strategic measures aim to stabilize the company’s financial performance while setting the stage for profit adjustments and dividend calibration, along with further buybacks in early 2025.
Thus, while Stellantis maintains a strong presence in several global markets, the group faces significant challenges, particularly with declining sales and shipments, highlighting the complexities of an automotive industry in transition.
