Stellantis (2): Launching EV production and STLA platform vehicles in the U.S.

Building gigafactory in Spain, creating EV export JV with China’s Leapmotor



EV e-C3
Citroen’s all-new B-segment EV e-C3
(to be launched in Q2 2024) (Source: Citroen)

  Stellantis’ combined shipments (including shipments by the company’s joint ventures) for the first nine months of 2023 increased by 10% year-over-year (y/y) to 4.805 million units. Shipments in all regions except the China and India & Asia-Pacific segments increased as semiconductor supply conditions improved. Its net revenues for the same period grew by 10.3% y/y to EUR 143.5 billion driven by strength in shipments and pricing policies.

  Shipments in North America for the period of January-September 2023 increased by 6.6% y/y to 1.493 million units. In addition to the Chrysler brand, which was mainly driven by the Pacifica PHEV, the Dodge and Ram brands saw a growth in sales. In November 2023, the UAW (United Auto Workers) and Unifor (Canadian labor union) reached agreements with Stellantis in labor negotiations and new labor contracts were ratified. According to the contract with the UAW, Stellantis plans to invest USD 18.9 billion in its U.S. plants by April 2028.

  In Europe (29 countries), Stellantis’s shipments for the first nine months of 2023 increased by 9.3% y/y to 2.077 million units. Sales expanded for the Opel/Vauxhall brand (driven by the Astra), the Fiat Professional brand (led by Ducato) and the Peugeot brand (led by the 208). In addition, demand increased for the Jeep Avenger and other BEV models.

  In South America, Stellantis’ shipments for the period of January-September 2023 increased by 5.0% y/y to 647,000 units. Shipments grew for the Fiat brand (led by the Fastback), Fiat Professional brand, and Citroen brand. In Brazil, Stellantis plans to produce Bio-Hybrid vehicles which combine electrification and ethanol flex-fuel engines.

  Stellantis’ shipments in China for the first nine months of 2023 declined by 31.1% y/y to 65,000 units. The joint venture between Stellantis and Dongfeng Motor Group Corporation engages in the manufacture and sales of Peugeot and Citroen brand vehicles, but has been suffering from stagnant sales. In October 2023, Stellantis set up a joint venture with Zhejiang Leapmotor Technology Co., Ltd. (Leapmotor), an emerging Chinese EV manufacturer, to export, sell and produce Leapmotor’s EVs outside China.

  This is Part 2 of the Stellantis report and it summarizes major developments including global sales and financial results as well as sales trends and recent activities by region. In addition, this report includes GlobalData’s production forecast for the Stellantis Group.


Related reports:
Stellantis (1): Launching 75 BEV Models by 2030, Aiming for 100% BEV Sales in Europe (Jan. 2024)
Electric Mobility in the USA (Jan. 2024)
U.S. Market: BEV Sales Ratio 7.5%, with over 20% in California (Nov. 2023)
European Market: EVs Reach 15% of New Vehicle Sales; Chinese BEVs Increase (Nov. 2023)
NAIAS 2023: Expanded EV and light truck offerings for the U.S. (Oct. 2023)
South America Is More Creative with Fuel than Europe (Sep. 2023)
Inflation Reduction Act: Support for EV/PHEV/FCEV Purchases (Jun. 2023)
Stellantis (Part 2): Group sales and revenue up sharply H1 '22 (Aug. 2022)
Stellantis (Part 1): 75 BEV Models by 2030, Aiming for 5 million Annual BEV Sales (Jul. 2022)


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