slowdown in sales in the first quarter, while waiting for new models

Stellantis, formerly PSA, saw its activity slow down in the first quarter. This slowdown in sales concerns both Europe and North America, which constitutes its main market.

Founded by Carlos Tavares thanks to the merger of PSA with Fiat-Chrysler in January 2021, Stellantis is today a Franco-Italian-American group with around fifteen brands on the clock. With Peugeot, Citröen, DS, Opel, Vauxhall, Chrysler, Alfa-Romeo, Fiat, Dodge, Jeep, Lancia, Maserati, its strike force does not prevent the entire group from recording its second consecutive quarter of decline in revenues. sales. After years of record results since its creation, Stellantis achieved, between January and March 2024, a turnover close to 42 billion euros, with 1.3 million vehicles delivered worldwide. This is a drop of 10% over one year.

The first quarter actually suffers in comparison with the particularly high figure for the same period last year. The first three months of 2023 marked the resumption of deliveries, after weeks of problems in supply chains and the shortage of semiconductors. The slowdown also comes from low sales of its aging models, and all regions of the world are affected. In Europe, turnover fell by 13%, and in North America, Stellantis’ main market, it fell by 15%. The star Peugeot 3008 SUV has seen its sales decline while waiting for its electric version, which is planned, if all goes well, for the second quarter.

New or modernized, 21 models in the pipeline

Stellantis’ plan to revive itself includes a careful mix of savings and new products. To move forward, Stellantis will reopen three of its factories in France and the United Kingdom, blocked by a strike by the equipment manufacturer MA France in Seine Saint-Denis which manufactures body parts. The Poissy plant (Yvelines) must resume vehicle assembly (Opel Mokka and DS3 Crossback) on Thursday May 2, while the utility plants in Hordain (North) and Luton (England) will resume activity on Tuesday May 7. , declared a spokesperson for the automobile group on Tuesday April 30 to AFP.

No less than 21 models, new or modernized, are in the pipeline on all continents, and many in electric version. Sales of electric models are in fact marking time at Stellantis, as with other manufacturers. They represent an 8% increase, only over the year, in a battery market that is generally less dynamic than last year. Redeploying electricity and convincing customers is the great challenge facing all traditional automobile manufacturers in the face of tough competition, particularly from China.