Financial Data and Key Metrics - Consolidated shipments decreased by 20% or 279,000 units year-over-year, with 150,000 units associated with temporary gaps in the model lineup, 80,000 units related to inventory normalization, and 50,000 units due to lower sales performance and industry headwinds [8][11] - Net revenues declined by 27%, driven by a 20% shipment decline, negative pricing actions (€1.3 billion), and foreign exchange headwinds (€1.1 billion) [8][12][14] - Adjusted Operating Income (AOI) margin guidance for the full year is between 5.5% and 7%, with industrial free cash flow projected to be negative €5 billion to negative €10 billion [40] Business Line Performance - **North America**: Shipments declined by 36% or 170,000 units, with 50,000 units due to product hiatus and 80,000 units from inventory normalization Pricing was negatively impacted by enlarged incentives [15] - **Europe**: Shipments declined by 17% or 103,000 units, primarily due to temporary gaps in the B-segment lineup, partially offset by strong performance of new models like the Peugeot 3008 [16][17] - **Middle East & Africa**: Shipments declined by 26% or 27,000 units, mainly in Algeria due to import restrictions Revenues fell by 37%, impacted by FX headwinds and easing inflation in Turkey [17][18] - **South America**: Revenues declined by 2% despite a 14% increase in shipments, offset by FX headwinds from the Brazilian real and Argentinian peso [19] - **China, India, and Asia-Pacific**: Shipments declined by 30% due to competitive pressures from Chinese OEMs and a focus on an asset-light strategy [20] - **Maserati**: Shipments declined by 3,200 units, reflecting lower volumes of the Grecale SUV and the retirement of three products in 2023 [21] Market Performance - Group inventories were reduced by 9% compared to the beginning of the year, with 80,000 units of progress in Q3, primarily in North America [22][24] - U.S. dealer stock is targeted to reduce from 430,000 units to 330,000 units by November, improving day supply from 94 days to 85 days [24][25] Strategic Direction and Industry Competition - The company is undergoing a multi-year portfolio transition, focusing on platform consolidation, multi-energy flexibility, and reducing platform complexity [7][29] - New product launches, such as the Citroën C3, eC3, and Peugeot 3008, are expected to drive growth in high-demand segments and meet stricter emission requirements [35][36][37] - The Leapmotor international partnership is expanding, with plans to increase nameplates in Europe and explore localized production to compete more effectively [32][33] Management Commentary on Operating Environment and Future Outlook - The company is facing temporary challenges due to product portfolio upgrades, operational issues, and industry headwinds, particularly in Europe and North America [6][43] - Management expects these headwinds to peak in H2 2024 and diminish significantly in 2025, with a focus on improving sales effectiveness and reducing inventory levels [10][25] - The company remains confident in its long-term potential, leveraging its scale, new platforms, and iconic brands to drive future growth [44] Other Important Information - The company is enhancing its go-to-market strategy in North America, focusing on improving share of voice, lead qualification, and pricing transparency to boost sales [26][27] - Early signs of improved market share and qualified leads are encouraging, with a projected 10% increase in unit sales in October compared to September [28] Q&A Session Summary Question: North America Inventory Target and Market Share - The company is on track to reduce U.S. dealer stock to 330,000 units by November, but further reductions may be needed to align with peer levels Management is focused on improving sales effectiveness to reduce days supply [45][46][48][49] Question: Pricing Strategy and Dividend Policy - The company is working on improving pricing transparency and reducing incentives, while maintaining a strong balance sheet to support its dividend policy despite significant cash outflows in 2024 [52][53][57][58] Question: Guidance Range and Product Launches - The company is keeping its guidance range wide to allow flexibility in implementing strategic actions Key product launches, such as the Dodge Charger Daytona and Jeep Cherokee, are expected to drive growth in 2025 [60][61][67] Question: EV Profitability and European Market - The company aims for profitability parity between BEV and ICE products, with progress in Europe but challenges in North America due to early-stage EV launches Stricter emissions regulations in Europe are driving aggressive EV production [69][70][72] Question: Sell-Through and Affordability - The company is focused on improving sell-through by enhancing sales effectiveness and addressing affordability challenges, which are critical for both Stellantis and the broader industry [76][77][81] Question: Free Cash Flow and Working Capital - Negative working capital and lower production volumes are impacting free cash flow, but the company expects improvements as inventory levels normalize and sales effectiveness improves [83][84][87] Question: Captive Finance and Trade Policy - The company is building out its captive finance organization in the U.S., which is expected to improve customer loyalty and sales effectiveness Trade policy uncertainties, particularly around USMCA, are being managed through operational flexibility [89][90][103][105]

Stellantis worker at work inside of the new Hybrid and PHEV Vehicles Stellantis Group eDCT Assembly Plant on April 10, 2024 in Turin, Italy.Auto giant Stellantis on Thursday reported a 27% decline in third-quarter net revenues, but said it was making headway in addressing operational issues such as U.S. inventories.The Netherlands-based company, which owns household names including Jeep, Dodge, Fiat, Chrysler and Peugeot, said that net revenues for the July-September period came in at 33 billion euros ($35. ...

Stellantis (STLA) closed at $13.64 in the latest trading session, marking no change from the prior day. This move was narrower than the S&P 500's daily loss of 0.03%. At the same time, the Dow lost 0.61%, and the tech-heavy Nasdaq gained 0.56%. The automaker's stock has dropped by 12.79% in the past month, falling short of the Auto-Tires-Trucks sector's loss of 3.8% and the S&P 500's gain of 1.39%. The investment community will be paying close attention to the earnings performance of Stellantis in its upcom ...

Stellantis CEO Carlos Tavares is under pressure.Tavares is being criticized for cutting too deep as he reshapes the global automaker.Investors, dealers, and union workers have all raised issues with Tavares's leadership. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email ...

AUBURN HILLS, Mich., Oct. 21, 2024 /PRNewswire/ --Fiat 500e named 2025 Urban Green Car of the Year by Green Car JournalFor second straight year, Fiat 500e named Urban Green Car of the Year by Green Car Journal Fiat 500e's 42-kWh lithium-ion battery delivers estimated combined range of 149 miles and 162 miles in the city cycleAt just under 3,000 pounds, Fiat 500e is lightest passenger BEV in segment while being the most spacious 500 everWith more than 6 million Cinquecentos sold since 1957, current-generatio ...

This massive auto conglomerate looks doomed for failure.Chrysler Group has had a long history of failed European partnerships. It started in 1998 via a merger with Daimler-Benz, which fell apart in 2007 amid cultural incompatibilities and poor synergy. By 2014, what remained of Chrysler merged with the Italian automaker Fiat to make Fiat Chrysler Automobiles. This conglomerate finally merged with France-based PSA Group and is now known as Stellantis (STLA -2.41%),  headquartered in the Netherlands. It's sti ...

Group 1 - The modern muscle-car era is evolving, with Mopar set to reveal new developments at SEMA 2024 [1] - Mopar, a brand under Stellantis, has a rich history dating back to 1937, originally starting with antifreeze products and evolving into a comprehensive vehicle care and performance brand [2] - In the 1960s, Mopar established itself in the muscle-car era by providing performance parts aimed at enhancing speed and handling for both road and racing applications [3] Group 2 - Mopar has expanded its offerings over the years to include technical service and customer support, integrating these services to improve customer and dealer support globally [3]

Global Shipments Decline - Worldwide shipments of Stellantis vehicles fell by 20% in the third quarter, with a 36% drop in North America [1][2] - Shipments during the quarter fell to about 1.15 million vehicles from 1.43 million last year [2] - The drop in shipments exceeded the 15% decline in Stellantis' third-quarter underlying sales [3] Regional Performance - Shipments fell in Europe, Middle East and Africa, and China, India, and Asia Pacific regions [4] - South America was the only region to register a gain in shipments [4] - Stellantis' market share in the U.S. rose to 8% in September from 7.2% in July [4] Company Challenges - Stellantis has seen sales fall and shares lose 44% of their value so far this year [1][5] - The company issued a profit warning, citing "deterioration in global industry dynamics" and competition from Chinese rivals [2] - Stellantis announced changes at its executive level to focus on key business priorities and address industry issues [5] Market Reaction - Stellantis shares were up 1% at $13.08 soon after the opening bell Wednesday [5] - The company has faced lower-than-expected quarterly results, production pauses, and cuts to its full-year outlook [5]

Stellantis is recalling more than 20,000 hybrid crossover SUVs in the U.S. due to a potential issue with the brake pedal that's led to over a dozen incidents. The automaker announced on Wednesday that an estimated 20,755 2024-2025 model-year Alfa Romeo Tonale plug-in hybrid (PHEV) SUVs and 2024 model-year Dodge Hornet PHEV SUVs are impacted by the recall. The automaker said the vehicles "may have been built with a brake pedal that could inadvertently disengage while braking," according to the recall notice. ...

Stellantis N.V. (STLA) has been grappling with declining sales and market share, a trend that began before this year. In 2023, it was an outlier among competitors as its losses surpassed competitors and its market share fell below General Motors, Toyota, Ford and even Hyundai. The company has reported multiple consecutive quarters with sales declines of 20% or more in the United States. Recently, its U.S. market share dropped below Honda's. Losing market share appears to be a significant shift for a company ...