Stellantis reports first-quarter 2024 net revenue, shipments reflecting's new product transition

Stellantis reports first-quarter 2024 net revenue and shipmentsReflect new product transformation

  • Net revenues of €41.7 billion were down 12% compared to the first quarter of 2023, primarily due to sales, mix and foreign exchange headwinds, partially offset by strong net pricing
  • Consolidated shipments(1) were 1,335,000 units, down 10%, reflecting production actions and inventory management to prepare for a wave of new products in the second half of 2024, while strong shipments in the first quarter of 2023 were driven by long-term supply Build inventory after restrictions
  • As of March 31, 2024, total new vehicle inventory was 1.393 million units (company inventory was 423,000 units), reflecting improvements from December 2023 levels and structure
  • Compared with the first quarter of 2023, global sales of pure electric vehicles and light electric vehicles increased by 8% and 13% respectively; the world continues to pay attention to the launch of new pure electric vehicles in 2024
  • The Annual General Meeting approved the payment of an ordinary dividend of €1.55 per share to shareholders on May 3, 2024 (an increase of 16% compared to the previous year)
  • EUR 3 billion of share buybacks expected to be completed in 2024
“While year-over-year shipment and net revenue comparisons for the first quarter of 2024 are difficult due to the shift in our next-generation product portfolio manufactured on new platforms, we are significantly improving our key business with customer sales exceeding shipments. Dynamic. Laying the foundation for substantial improvement in growth and profitability in the second half of the year. Natalie Knight, Treasurer
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Going concern results Fiscal Year 2024 Guidance – Confirmed Revenue Background: Supportive AOI Profit(2): Double-digit minimum committed industrial free cash flow(3): Positive
Q1 2024 Q1 2023 Change
Total shipments (000 pieces) 1,371 1,538 (11)%
Combined shipments (000 units) 1,335 1,476 (10)%
Net income (billion euros) 41.7 47.2 (12)%

____________________________All reported figures are unaudited. Reference should be made to the Safe Harbor Statement section contained elsewhere in this document.

Amsterdam, April 30, 2024 – Stellantis NV (NYSE: ) today reported first quarter 2024 net revenue and shipments, reflecting production actions and inventory management strategies to prepare for the coming wave of new products . Customer sales were unchanged from the previous year, with increases in the Middle East and Africa (23% year-on-year growth) and expanded Europe (6% year-on-year growth). Global pure electric vehicle sales increased by 8% compared with the same period last year, and North American plug-in hybrid vehicle sales increased by 79% compared with the same period last year. Jeep ® Wrangler, Jeep ® Grand Cherokee and Dodge Hornet are the top three selling plug-in hybrid vehicles in the U.S.(4) Stellantis Pro One Commercial Vehicles achieved market share leadership in the Middle East and Africa region this quarter with a market share of 26%, while maintaining the first position in the 30 EU countries and South America, striving to achieve global market leadership in 2027. .

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The company’s major achievements in the “Dare Forward 2030” strategic plan include:

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  • Announced partnership with the California Air Resources Board to avoid 1-12 million tons of greenhouse gas emissions in the United States and strengthens Stellantis’ ongoing commitment to electrification offensive by increasing electric vehicle awareness, expanding charging infrastructure and driving dealer readiness.
  • Based on the record full-year 2023 results, €1.9 billion will be reallocated to employees by 2024, totaling €6 billion since 2021.
  • A third global employee survey was conducted in February as part of a continuous listening approach to improve the overall work experience and wellbeing. Nearly 162,000 employees responded, resulting in a participation rate of 71%, an increase of 8 percentage points from last year.
  • Engage young people in career development initiatives through the following means:
    • The Battery Workforce Challenge, administered by the U.S. Department of Energy's Argonne National Laboratory, challenges teams to design, build, test and integrate advanced battery packs for the Ram ProMaster EV.
    • The Drive for Design competition, hosted by the Stellantis North American design team, invites high school students to create their dream car for 2040.
  • As part of a wider stakeholder engagement program, Stellantis CEO Carlos Tavares joins four internationally renowned experts and students from three universities in France, Morocco and the United States for the second edition Annual Freedom of Movement Forum to discuss how will our planet support the mobility needs of eight billion people?
  • Launched three pure electric vehicles: Fiat Topolino, Maserati Grecale Folgore, and Ram ProMaster EV; maintained launch plan.
  • Starts production of in-house designed and manufactured electric drive modules at Indiana Transmission (USA). The class-leading power density 250kw unit will be installed in upcoming STLA large vehicles (Dodge, Jeep, Alfa Romeo, Chrysler, etc.).
  • Started producing cells and modules with European battery partner ACC. LG Energy Solution and Samsung (KS:) SDI followed. The battery components will be assembled into high energy density battery packs designed and manufactured by Stellantis in sizes ranging from 80 to 120 kWh.
  • Expansion of in-house production of hydrogen fuel cell vehicles for medium and large vans in Oldan (France) and Gliwice (Poland). The expansion of the fuel cell van product line and the addition of in-house industrial-scale production cement Pro One’s position as the undisputed European commercial vehicle leader.
  • Further improve the traditional propulsion system:
    • Started production of the new 2.2L MultiJet 4.0 clean diesel engine (compatible with Euro 6e and 7) at the Pratola Serra (Italy) plant.
    • Through the eTransmissions Assembly joint venture, production of electric dual-clutch transmissions has been launched in Turin, Italy, to power the next-generation Stellantis brand hybrid vehicle.
  • Rapidly adopt advances in generative artificial intelligence in R&D and customer value-added services. In terms of research and development, AI is deployed for simulation, which significantly improves the accuracy and speed of the simulation and testing phases. Using new methods, Stellantis can improve aerodynamic evaluation by more than 300 times and reduce costs by >85%; dozens of additional artificial intelligence systems will also be launched in 2024.
  • The first OEM to integrate ChatGPT functionality as standard, initially deploying the new travel assistant across the entire DS brand range, followed by Peugeot (OTC:) in its iconic i-Cockpit ® system, with plans to expand into Stellantis products combination.
  • Created the world's first virtual cockpit platform as part of the Stellantis Virtual Engineering Workbench, enabling engineering teams to deliver infotainment technology to customers faster through faster development cycles and feedback loops.
  • Launched MyTasks, an industry-first tool that allows fleet managers to communicate, task and status updates with live drivers via the vehicle’s infotainment unit.
  • Acquired the artificial intelligence framework, machine learning models, intellectual property rights and patents of CloudMade, a developer of intelligent and innovative big data-driven automotive solutions, to support the mid-term development of STLA SmartCockpit.
  • Stellantis Ventures strategic investments:
    • SteerLight: Developer of high-performance, low-cost lidar technology that has the potential to improve advanced driver assistance systems.
    • Tiamat: Developing and commercializing sodium-ion battery technology at a lower cost per kilowatt hour and free of lithium and cobalt.
  • Announced investment program in South America totaling 5.6 billion euros (30 billion reais) from 2025 to 2030 to support the launch of more than 40 new products during this period, as well as the development of new biohybrid technologies, innovative decarbonization Technology automotive supply chain and strategic new business opportunities.
  • Signed two fleet agreements:
    • Over the next three years, SIXT can purchase up to 250,000 vehicles for its rental fleet in corporate countries in Europe and North America.
    • Ayvens will encourage affiliates to purchase up to 500,000 vehicles over the next three years for its long-term rental fleet in Europe.
  • At the Annual General Meeting of Shareholders on April 16, 2024, an annual dividend of €4.7 billion (€1.55 per share) was approved, payable on May 3, 2024.
  • Continue to implement the 3 billion euros share repurchase plan.
  • Total capital returns of more than €7.7 billion are expected to be achieved in 2024, representing 11% of Stellantis' market capitalization on January 1, 2024.
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Guidance and Outlook: Despite macroeconomic uncertainty, the company reiterated its minimum commitment to double-digit adjusted operating income (AOI) margins in 2024, as well as positive industrial free cash flow.

A webcast and conference call will be held on April 30, 2024 at 2:00 pm CEST/8:00 am EDT to present Stellantis first quarter 2024 shipments and revenue . The webcast and recorded replay may be accessed from the Investors section of Stellantis' website at The presentation is expected to be posted on the investors section of Stellantis' website on April 30, 2024 at approximately 8:00 a.m. European Summer Time/2:00 a.m. Eastern Time.

Upcoming events: Investor Day – June 13, 2024; First Half 2024 Results – July 25, 2024; Third Quarter Shipments and Revenues – October 31, 2024

About Strantis

Stellantis NV (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world's leading automakers committed to delivering clean, safe and affordable freedom to travel for everyone . It is known for its unique portfolio of iconic and innovative brands, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Walkers Hall, Free2move and Leasys. Stellantis is executing on Dare Forward 2030, a bold strategic plan that paves the way to achieve its ambitious goal of becoming a net-zero carbon mobility technology company by 2038, offsetting single-digit percentages of remaining emissions , while creating added value for all stakeholders. For more information, please visit Contact information: or

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  • EN-20240430_Stellantis-NV-Q1-2024-Press Release

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