On Thursday, Stellantis reported a 9% drop in vehicle deliveries in Q4 2024, mainly due to North America, where the automotive group is struggling to sell off its inventories.
Consolidated billings for the last three months of the year were estimated at 1,395,000 units, compared with 1,539,000 in Q4 2023.
This performance was broadly in line with market expectations.
In a press release, Stellantis points out that the decline in billings was reduced from 20% in the third quarter, thanks to its inventory reduction measures and the launch of new products in Europe.
In North America, billings fell by 28% year-on-year in the fourth quarter, equivalent to 80% of the total decline recorded at group level over the period, according to analysts at Oddo BHF.
However, the company points to a reduction of around 80,000 units in US dealer inventories compared with the end of the third quarter.
This normalization puts the company in a "solid" position for the scheduled arrival of new Jeep, Ram and Dodge models this year.
In their reaction note, Oddo's teams describe the publication as "without any major surprises", stressing that investors' attention will be focused on the turnaround in the sales trajectory forecast for 2025, which they expect to be concentrated mainly in the second half of the year.
At around 9:30 a.m., Stellantis shares were up around 1%, making them one of the top 10 gainers in the CAC 40 index this morning.
For the full year 2024, the Group's billings were down 12% at 5,415,000 units.
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Stellantis N.V. is one of the world's leading car manufacturers. The activity is essentially organized around 4 sectors:
- sales of passenger cars and light commercial vehicles: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys brands;
- sale of luxury vehicles: Maserati and DS Automobiles brands;
- sale of automotive equipment: interior systems, car seats, car exteriors, emission control systems, etc.;
- other: sales financing services (purchase, rental, leasing, etc.), after-sales services, etc.; - other: sales financing services (purchase, rental, leasing, etc.).
Net sales are distributed geographically as follows: the Netherlands (0.8%), North America (46.7%), France (9.5%), Brazil (7.3%), Italy (6.2%), Germany (5.5%), the United Kingdom (4.4%), China (0.6%) and other (19%).