Stellantis Releases Q4 2024 Consolidated Shipment Estimates

% Q4 y-o-y decline in shipments improved vs. -20% in Q3, as inventory reduction actions concluded and new product launches in Europe reduced gaps in the Company’s offering related to our generational portfolio transition

AMSTERDAM, January 16, 2025 – Stellantis N.V. today published global quarterly consolidated shipment estimates and provided commentary on related business trends. The term shipments describes volumes of vehicles delivered to our dealers, distributors, or directly from the Company to retail and fleet customers, which directly drive revenue recognition.

Consolidated shipments for the three months ending December 31, 2024, were an estimated 1,395 thousand units, representing a 9% decline versus the same period in 2023.  The shipment performance directionally converged with the underlying sales performance in the period of approximately -5%, as U.S. inventory reduction initiatives concluded successfully and shipments in Europe were supported by the launch of certain next-generation products which reduced a temporary gap in the production of certain Stellantis products in the region.

• In North America, Q4 shipments declined approximately 115 thousand units vs the same period in 2023, representing a 28% y-o-y decline, in contrast to a more modest sales decline of 5% y-o-y.  The larger decline in shipments reflected inventory reduction initiatives, where production discipline combined with incentive actions resulted in a ~80K units decrease of the U.S. dealer inventory compared to the end of the Q3, ending the period just over 300K units. The normalization of the U.S. dealer inventory puts the Company in a strong position to support the arrival of new products in 2025 from Jeep, Ram and Dodge.
• In Enlarged Europe, the 6% y-o-y shipment decline in Q4 was strongly reduced compared to Q3 (-17% y-o-y) as a temporary gap in certain B-segment offerings was substantially reduced due to the launch of the Citroën C3/ë-C3. Additional B-segment products will soon follow, such as the MHEV Citroën C3, as well as the multi-energy Citroën C3 Aircross, Opel Frontera, and Fiat Grande Panda offerings.  The initial European product launches of Stellantis’ next-generation product wave is seeing a promising start, with orders received for over 90K units for the Citroën C3/ë-C3, and over 140K units for the initial STLA Medium platform Peugeot 3008, Peugeot 5008 and Opel Grandland.
• In Stellantis’ “Third Engine”⁽²⁾, shipments grew by 5% driven by a 12% increase in South America and a stable Middle East & Africa, more than offsetting shipment declines in China and India & Asia Pacific. South America shipments were supported by a stronger industry demand in all main markets and an ongoing production recovery following the Rio Grande do Sul flooding. Middle East & Africa shipments were stable, reflecting improvement in Turkey, Morocco, Egypt and Tunisia, mostly offset by the impact of temporary import restrictions in Algeria.

1. Consolidated shipments only include shipments by Company’s consolidated subsidiaries, which represent new vehicles invoiced to third party (dealers/importers or final customers).
   Consolidated shipment volumes for Q4 2024 presented here are unaudited and may be adjusted. Final figures will be provided in our official revenue/shipments report. Analysts should interpret these numbers with the understanding that they are preliminary and subject to change.
    
2. The “Third Engine” refers to the aggregation of the South America, Middle East & Africa and China and India & Asia Pacific segments for presentation purposes only.