Q4 Shipment Decline Shows Improvement
Stellantis N.V. has released its global consolidated shipment estimates for the fourth quarter, revealing a year-over-year decline in shipments of 9%, a notable improvement compared to the 20% drop in the third quarter. The company attributes this shift to successful inventory reduction strategies and new product introductions in Europe that helped bridge gaps during the transition of their generational portfolio.
For the quarter ending December 31, 2024, Stellantis reported an estimated 1,395 thousand units in consolidated shipments. This decline aligns closely with a sales performance decrease of about 5%. The U.S. successfully completed inventory reduction efforts, while shipments in Europe saw a boost from the launch of next-generation products, mitigating earlier production shortfalls.
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North American and European Shipment Overview
- In North America, Q4 shipments dipped by approximately 115 thousand units compared to the previous year, marking a 28% year-over-year decline. This contrasting decline against a 5% sales decrease reflects ongoing inventory management efforts, resulting in a reduction of around 80K units in U.S. dealer inventory by the end of Q4. This strategic alignment places Stellantis in a favorable position to launch new models from brands like Jeep, Ram, and Dodge in 2025.
- Across Enlarged Europe, shipments fell by 6% year-over-year in Q4, significantly less than the 17% decline observed in Q3. A newly launched Citroën C3/ë-C3 helped address gaps in the B-segment offerings. Upcoming models such as the MHEV Citroën C3 and multi-energy options like the Citroën C3 Aircross, Opel Frontera, and Fiat Grande Panda are set to further enhance the product lineup. Early indicators suggest strong demand, with over 90K orders for the Citroën C3/ë-C3 and 140K for the STLA Medium platform variants like the Peugeot 3008 and Opel Grandland.
- In Stellantis’ “Third Engine” sectors, shipments rose by 5%, driven by a 12% boost in South America, balanced against declines in China and the Asia-Pacific regions. The upswing in South America was supported by robust industry demand and a recovery in production following flooding in Rio Grande do Sul. Shipments in the Middle East and Africa remained stable, aided by improvements in Turkey, Morocco, Egypt, and Tunisia, despite temporary import challenges in Algeria.
Important Shipment Notes
- It’s important to note that the consolidated shipments discussed here only cover figures from Stellantis’s consolidated subsidiaries, representing new vehicles invoiced to third-party dealers, importers, or final customers. The Q4 2024 shipment figures stated are preliminary and subject to adjustments in the final report.
The “Third Engine” refers to an amalgamation of the South America, Middle East & Africa, and China and India & Asia Pacific segments for presentation clarity.
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