AMSTERDAM – Stellantis NV today announces net revenue and sales for the first quarter of 2024 that reflect production actions and inventory management strategies to prepare for the next wave of new products.
Customer sales remained unchanged from the previous year, with growth in the Middle East and Africa (+23% y-o-y) and Greater Europe (+6% y-o-y). Global BEV sales increased 8% and PHEV sales in North America increased 79% year-over-year. Jeep® Wrangler, Jeep® Grand Cherokee and Dodge Hornet were the three best-selling PHEVs in the United States.(4) Stellantis Pro One utility vehicles took first place in the Africa – Middle East region, with 26% market share, continuing their goal of reaching first place in the global market by 2027. Concerning BEV sales in EU30, Stellantis Pro One also occupies first place with 33% market share.
The company’s key achievements under the Dare Forward 2030 strategic plan include:
COMMITMENT :
- Partnership with the California Air Resources Board (CARB) to reduce U.S. greenhouse gas emissions by 10 to 12 million tons and scale Stellantis’ commitment to electrification through communication actions on the advantages of electric vehicles, development of charging infrastructure and training of distributors.
- Redistribution, following the record results for the year 2023, of 1.9 billion euros to employees in 2024, i.e. a total of 6 billion euros since 2021.
- Conducted the third global employee survey in February, aimed at improving the work experience and well-being in general. Nearly 162,000 employees responded to the survey, representing a participation rate of 71%, an increase of 8 points.
- Encourage young people to participate in professional development activities through:
- The Battery Workforce Challenge, managed by Argonne National Laboratory for the U.S. Department of Energy, asks teams to imagine, build, test and integrate an advanced battery pack for the Ram ProMaster EV .
- The “Drive for Design” competition, organized by the Stellantis North America design team, invites high school students to create the vehicle of their dreams for 2040.
- As part of a broader policy of engagement with stakeholders, Carlos Tavares, CEO of Stellantis, attended the second annual edition of the “Freedom of Mobility Forum” on the theme: “How will our planet respond does it meet the mobility needs of 8 billion people? “. He was accompanied by four world-renowned experts and students from three universities in France, Morocco and the United States.
TECH:
- Launch of three electric vehicles: Fiat Topolino, Maserati Grecale Folgore and Ram ProMaster EV; launch schedule maintained.
- Start of production of electric propulsion modules designed and manufactured internally at Indiana Transmission (United States). The 250 kW power density modules, the most powerful in their category, will be installed in the next vehicles designed on the STLA Large platform (Dodge, Jeep, Alfa Romeo, Chrysler, etc.).
- Start of cell and module production with ACC partners in Europe. LG Energy and Samsung SDI will follow. Battery components will be assembled to form high energy density battery packs. Stellantis has designed and manufactured battery packs with a capacity of 80 to 120 kWh.
- Expansion of in-house production of hydrogen fuel cell vehicles for medium and large vans in Hordain (France) and Gliwice (Poland). Its expanded range and increased in-house, industrial-scale production of fuel cell vans strengthen Stellantis Pro One’s position as the undisputed leader in the LCV sector in Europe.
- Further development of traditional propulsion systems:
- Start of production of the all-new 2.2L MultiJet 4.0 clean diesel engine (Euro 6e and 7 compatible) at the Pratola Serra plant (Italy).
- Through the eTransmissions Assembly joint venture, production of an electrified dual-clutch transmission is launched in Turin (Italy) to power the next generation of Stellantis brand hybrid vehicles.
- Rapid adoption of generative AI advances in R&D and high-value services for customers. In R&D, AI for simulation has been deployed, significantly improving the accuracy and speed of the simulation and testing phases. Using this new method, Stellantis can improve aerodynamic evaluation more than 300 times and reduce costs by 85%; dozens of additional new AI systems coming in 2024.
- First manufacturer to integrate ChatGPT as standard, starting with the deployment of the new travel companion across the entire DS range, followed by Peugeot on its emblematic i-Cockpit® system, with plans to extend it to the entire DS range. portfolio of Stellantis brands.
- Created the world’s first virtual cockpit platform as part of the Stellantis Virtual Engineering Workbench, enabling engineering teams to deliver infotainment technologies to customers through accelerated development cycles and feedback loops.
- Launch of MyTasks, a unique tool for fleet managers that allows real-time communication, assigning tasks and updating the status of drivers in the field via the vehicle’s infotainment system.
- Acquisition of artificial intelligence system, machine learning models, intellectual property rights and patents from CloudMade, a developer of intelligent and innovative automotive solutions based on big data, to support medium-term development of the STLA SmartCockpit platform.
- Strategic investments from Stellantis Ventures:
- SteerLight: develops high-performance, low-cost LiDAR detection technology improving advanced driver assistance systems.
- Tiamat: develops and markets sodium-ion battery technology at a reduced cost per kilowatt hour and free of lithium and cobalt.
VALUE:
- Announcement of a record investment plan for South America totaling €5.6 billion (R$30 billion) between 2025 and 2030 to support the launch of more than 40 new products in during this period as well as the development of new Bio-Hybrid technologies, innovative decarbonization technologies within the automotive supply chain, and new strategic business opportunities.
- Signature of two agreements relating to vehicle fleets:
- Over the next three years, SIXT could purchase up to 250,000 vehicles for its rental fleet in the countries where it operates in Europe and North America.
- Also over the next three years, Ayvens will encourage its subsidiaries to purchase up to 500,000 vehicles for its long-term rental fleet in Europe.
- At the Annual General Meeting of shareholders on April 16, 2024, approval of an annual dividend of 4.7 billion euros (€1.55 per share), which will be paid on May 3, 2024.
- Ongoing execution of the first €1.0 billion tranche of the €3.0 billion share buyback program, which is expected to end in June.
- On track to deliver a total capital return in 2024 of over €7.7 billion, representing a return of 11% as a percentage of Stellantis’ market capitalization as of January 1, 2024.
OBJECTIVES AND PROSPECTS: The company renews its commitment to achieve a minimum double-digit current operating profit for 2024, as well as positive industrial free cash flow despite macroeconomic uncertainties.
A live webcast and conference call is scheduled for April 30, 2024 at 2:00 p.m. CEST / 8:00 a.m. EDT to present Stellantis’ sales volumes and revenue for the first quarter of 2024. The webcast and replay will be accessible in the “Finance” section of the Stellantis website www.stellantis.com. The associated presentation materials will be published in the “Finance” section of the Stellantis website around 08:00 CEST / 2:00 EDT, again on April 30, 2024.
EVENTS TO COME : Investor Day – June 13, 2024; Results for the first half of 2024 – July 25, 2024; Sales volumes and turnover for the 3rd quarter – October 31, 2024
Full version of the press release to download opposite
About Stellantis
Stellantis NV (NYSE: STLA/ Euronext Milan: STLAM/ Euronext Paris: STLAP) is one of the leading international automobile manufacturers and mobility service providers. Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys: emblematic and steeped in history, our brands instill the passion of visionaries who founded them and that of our current customers at the heart of their avant-garde products and services. Drawing on our diversity, we are shaping the mobility of tomorrow. Our goal: to become the largest sustainable mobility Tech Company, in terms of quality and not size, while creating even more value for all of our partners and the communities in which we operate. To learn more, www.stellantis.com
