Stellantis has released its quarterly financial results, and unsurprisingly they are bad. The rebound becomes imperative!
Net sales for the third quarter stood at €33 billion, down 27% compared to Q3 2023. An expected fall, mainly due to lower sales and a revaluation of inventories . On the sales side alone, they amounted to 1,148,000 units as of September 30, 2024, a decrease of 20% from one year to the next. Obviously difficult to find margin when the product does not find a buyer.
The third quarter of 2024 was also marked by production interruptions on several models as part of a transformation of the overall offering. If the group asserts that the winds are contrary due to a difficult market environment in Europe, we will delay by saying that they are just changeable. After all, Tesla and BYD are posting record results which prove that there is a market for well-designed models. The group has high hopes for the latest arrivals such as the Alfa Romeo Junior and the Citroën C3 and C5 and their electric versions to raise the bar in Europe. At a global level, models such as the Citroën Basalt, a low-cost SUV designed for certain developing markets, could also make a difference.
Last important point, Stellantis has undertaken a very large operation to reduce its stocks in North America. As it happens, the American context is particularly tense with political uncertainties and repeated strikes which have undermined the performance of the group's American branch. And to liquidate, there’s no secret, you have to sell off. Sales almost at cost price which are only just beginning and will improve certain financial items, but it is never very pleasant for the wallet…
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