SHERIDAN, WYOMING – November 16, 2024 – Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP), one of the world's leading automakers, today announced its consolidated shipment estimates for the third quarter of 2024. The company reported a decline in shipments, reflecting ongoing inventory reduction initiatives and the impact of new product launches.
Q3 2024 Shipment Estimates
Consolidated shipments for the three months ending September 30, 2024, were estimated at 1,148 thousand units, representing a 20% decline compared to the same period in 2023.
The term shipments describes volumes of vehicles delivered to our dealers, distributors, or directly from the Company to retail and fleet customers, which directly drive revenue recognition.
The decline in shipments was attributed to several factors:
- Inventory Reduction Initiatives: Stellantis has been actively reducing dealer inventory levels to optimize its operations and better align with market demand.
- New Product Launches: The company is currently transitioning its product portfolio, with several new multi-energy offerings planned for launch in late 2024 and beyond. This transition has temporarily impacted shipment volumes.
- Delayed Launches: Delays in the launch of products based on the Smart Car platform, such as the Citroën C3, also contributed to the decline.
Regional Performance
- North America: Shipments declined by approximately 170 thousand units, primarily due to production cuts aimed at reducing dealer inventory and addressing product portfolio gaps during the transition to new multi-energy offerings.
- Enlarged Europe: Shipments were approximately 100 thousand units lower than the previous year, mainly due to delayed launches of products based on the Smart Car platform.
Outlook
Despite the decline in shipments, Stellantis remains optimistic about its future prospects. The company highlighted strong orders for new European product launches, such as the Citroën C3 and Peugeot 3008.
Stellantis is committed to providing clean, safe, and affordable mobility solutions. The company's Dare Forward 2030 strategic plan outlines its ambitious goals for achieving carbon net zero by 2038 and offering a wide range of battery electric vehicles.
About Stellantis
Stellantis N.V. is one of the world's leading automakers, offering a unique portfolio of iconic brands, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, and Vauxhall. The company is dedicated to providing innovative and sustainable mobility solutions for customers worldwide.