Stellantis Projects 9% Shipment Decline For Q4 Amid US Inventory Cuts

Stellantis N.V. STLA disclosed that it expects global total shipments to decline 9% year-over-year to around 1.395 million units for the fourth quarter of 2024.

The decrease aligned with a ~5% drop in underlying sales performance. The company’s 9% decline in shipments improved versus a 20% decline in the third quarter, as U.S. inventory reduction actions concluded and new product launches in Europe reduced gaps in its offering related to generational portfolio transition.

In North America, shipments fell by 28%, while sales dropped 5% Y/Y. The sharper shipment decline was due to inventory reduction efforts, cutting U.S. dealer stock by ~80,000 units to just over 300,000 by quarter-end.

In Enlarged Europe, shipments fell 6% Y/Y, an improvement from the third-quarter decline of 17% Y/Y, thanks to the Citroën C3/ë-C3 launch helping close a temporary B-segment gap.

The company stated that early demand for Stellantis’ next-generation models is strong, with over 90,000 orders for the Citroën C3/ë-C3 and more than 140,000 for STLA Medium platform models, including the Peugeot 3008, Peugeot 5008, and Opel Grandland.

Apart from this, Stellantis’ “Third Engine” shipments rose 5% Y/Y, led by 12% growth in South America and stability in the Middle East & Africa, offsetting declines in China and India & Asia Pacific.

South America benefited from stronger demand and a post-flood production rebound, while Middle East & Africa saw gains in key markets, tempered by import restrictions in Algeria.

The company plans to report FY24 results on February 26, 2025.

Last week, the company inked a non-binding Memorandum of Understanding to accelerate the cloud-based development of Stellantis vehicles.

Price Action: STLA shares are up 0.16% at $12.77 premarket at the last check Thursday.

Read Next:

• Intel Partners with Amazon Cloud to Drive Next-Gen Smart Vehicle Tech, Wins Stellantis, Karma Auto As Clients

Photo by Jonathan Weiss on Shutterstock.