Stellantis N.V. (STLA), a major player in the automotive industry, announced on Thursday that its underlying sales for the fourth quarter decreased by approximately 5%. Additionally, consolidated shipments dropped by 9% year-over-year, reaching an estimated total of 1,395,000 units.
The company highlighted that their inventory reduction initiatives in the U.S. were successfully concluded. Meanwhile, in Europe, the launch of next-generation products helped mitigate a temporary production gap for certain Stellantis models in the region.
Despite these figures, there was sequential improvement compared to a more significant 20% decline in consolidated shipments during the third quarter.
In North America, shipments saw a 28% decrease, which contrasts with the more moderate 5% drop in sales. This discrepancy is attributed to the company's efforts in reducing inventory.
In the Enlarged Europe region, shipments were down by 6%. However, in Stellantis' Third Engine operations, there was a 5% increase in shipments. This growth was driven by a 12% rise in South America and stable performance in the Middle East & Africa, which effectively compensated for declines in China and the India & Asia Pacific markets.
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