Stellantis N.V. (NYSE:STLA) has revealed its projection for a 9% year-over-year decrease in global total shipments, anticipating around 1.395 million units for the fourth quarter of 2024. This decline corresponds with a roughly 5% drop in underlying sales performance. The company’s shipment decrease of 9% marks an improvement over the 20% decline witnessed in the third quarter, attributable to the completion of U.S. inventory reduction measures and the introduction of new products in Europe, which helped address gaps in its generational portfolio transition offerings.
In North America, shipments experienced a significant 28% decline, while sales saw a 5% year-over-year drop. The more pronounced decrease in shipments was a result of efforts to reduce inventory, leading to a reduction of U.S. dealer stock by approximately 80,000 units to slightly over 300,000 by the end of the quarter. Meanwhile, in Enlarged Europe, shipments fell by 6% year-over-year, showing an improvement from the third-quarter decline of 17% year-over-year, primarily due to the launch of the Citroën C3/ë-C3, which helped bridge a temporary gap in the B-segment category.
Stellantis indicated that there is strong early demand for its next-generation models, 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. Additionally, shipments of Stellantis’ “Third Engine” rose by 5% year-over-year, with a 12% increase in South America and stable performance in the Middle East & Africa region, offsetting declines in China and India & Asia Pacific. South America benefited from heightened demand and a rebound in production post-floods, while Middle East & Africa saw growth in crucial markets, dampened by import restrictions in Algeria.
The company is set to report its fiscal year 2024 results on February 26, 2025. Recently, Stellantis entered into a non-binding Memorandum of Understanding to expedite the cloud-based development of its vehicles. As of the last check on Thursday, STLA shares were up by 0.16% at $12.77 premarket.
In a notable development, Intel has partnered with Amazon Cloud to drive next-generation smart vehicle technology and has secured Stellantis and Karma Auto as clients.
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This article titled “Stellantis Projects 9% Shipment Decline For Q4 Amid US Inventory Cuts” was originally published on Benzinga.com in 2025. Benzinga does not provide investment advice. All rights reserved.