Stellantis Q3 shipments slip to 1.3M units amid North American slump

Stellantis, the Franco-Italian automaker, reported a 1% decline in global shipments for Q3 compared to a year earlier. The company estimated the total to be around 1.3 million vehicles. The decline was primarily driven by a summer production halt in North America, which led to a 12% drop in vehicle shipments to 357,000 units. This decrease was mainly attributed to Jeep models such as the Grand Cherokee and Compass, each experiencing a year-on-year reduction of 25,000 units.

In stark contrast, European shipments saw a 10% increase, reaching 588,000 units, marking the only region with a year-over-year growth. This boost was primarily fueled by demand for electric vehicle (EV) models. Stellantis' European shipments also included approximately 44,000 vehicles from its Chinese partner, Leapmotor, which they distribute within the region.

However, shipments in the Middle East and Africa witnessed a significant decline of 21% to 75,000 units. This downturn was largely due to reduced volumes in Turkey and Gulf Cooperation Council countries, factors aggravated by ongoing conflicts in the region.

Stellantis has plans to unveil six new vehicles and nine concept cars at the upcoming Paris Motor Show. The company's CEO, Antonio Filosa, introduced a €60 billion ($67 billion) turnaround plan in May to address two years of declining market share and weak sales. Stellantis is set to release its full third-quarter results on October 28.