On July 25, Stellantis N.V. announced its financial result for first half of 2024 (H1 2024). Net revenue decreased by 14% YoY to EUR 85.0 billion. Adjusted operating income dropped by 40% YoY to EUR 8.5 billion. The financial decline was mainly due to lower volumes, inventory reductions, production gaps from a portfolio transition, and reduced market share in North America.
Shipment volume by region in the first half of the year was 838,000 units in North America, down 18.1% from the same period last year; 1,387,000 units in expanded Europe, down 6.2%; 214,000 units in the Middle East and Africa, up 2.9%; 394,000 units in South America, down 6.2%; and 32,000 units in China, down 64.4%. In North America, model discontinuations had an impact, and in Europe, inventory adjustments had an impact. Positive news included the first top market share gain in the Middle East and Africa and the top plug-in hybrid vehicle (PHV) sales in the United States.
Stellantis’ electrified dual-clutch transmission (eDCT) technology drove a 53% increase in EU30 hybrid vehicle sales. The company plans to launch thirty hybrid models this year and six more by 2026, leading in low-emission vehicle sales in the EU30 for A and B segments and light commercial vehicles.
The company anticipates that product portfolio coverage gaps have peaked and expects significant performance improvements in North America, Enlarged Europe, and Maserati in the latter half of 2024 and 2025 by launching more than 20 models in 2024.
The Leapmotor International joint venture will soon launch its first tech-focused EVs, the C10 SUV and T03 car, starting in Enlarged Europe and expanding to other regions by the end of 2024.