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AUBURN HILLS, Mich., Nov. 1, 2024 /PRNewswire/ -- Participants from the Battery Workforce Challenge collegiate competition, a public-private partnership between the U.S. Department of Energy (DOE), Stellantis, and Argonne National Laboratory, gathered today to hand over the keys for 12 new 2024 Ram ProMaster electric vans. Chris Feuell, Chrysler and Ram Brand CEO, and Mark Champine, Stellantis Senior Vice President, Head of North America Engineering Technical Centers were on hand to distribute the ProMaster ...

Financial Data and Key Metrics - Consolidated shipments decreased by 20% or 279,000 units year-over-year, with 150,000 units associated with temporary gaps in the model lineup, 80,000 units related to inventory normalization, and 50,000 units due to lower sales performance and industry headwinds [8][11] - Net revenues declined by 27%, driven by a 20% shipment decline, negative pricing actions (€1.3 billion), and foreign exchange headwinds (€1.1 billion) [8][12][14] - Adjusted Operating Income (AOI) margin guidance for the full year is between 5.5% and 7%, with industrial free cash flow projected to be negative €5 billion to negative €10 billion [40] Business Line Performance - **North America**: Shipments declined by 36% or 170,000 units, with 50,000 units due to product hiatus and 80,000 units from inventory normalization Pricing was negatively impacted by enlarged incentives [15] - **Europe**: Shipments declined by 17% or 103,000 units, primarily due to temporary gaps in the B-segment lineup, partially offset by strong performance of new models like the Peugeot 3008 [16][17] - **Middle East & Africa**: Shipments declined by 26% or 27,000 units, mainly in Algeria due to import restrictions Revenues fell by 37%, impacted by FX headwinds and easing inflation in Turkey [17][18] - **South America**: Revenues declined by 2% despite a 14% increase in shipments, offset by FX headwinds from the Brazilian real and Argentinian peso [19] - **China, India, and Asia-Pacific**: Shipments declined by 30% due to competitive pressures from Chinese OEMs and a focus on an asset-light strategy [20] - **Maserati**: Shipments declined by 3,200 units, reflecting lower volumes of the Grecale SUV and the retirement of three products in 2023 [21] Market Performance - Group inventories were reduced by 9% compared to the beginning of the year, with 80,000 units of progress in Q3, primarily in North America [22][24] - U.S. dealer stock is targeted to reduce from 430,000 units to 330,000 units by November, improving day supply from 94 days to 85 days [24][25] Strategic Direction and Industry Competition - The company is undergoing a multi-year portfolio transition, focusing on platform consolidation, multi-energy flexibility, and reducing platform complexity [7][29] - New product launches, such as the Citroën C3, eC3, and Peugeot 3008, are expected to drive growth in high-demand segments and meet stricter emission requirements [35][36][37] - The Leapmotor international partnership is expanding, with plans to increase nameplates in Europe and explore localized production to compete more effectively [32][33] Management Commentary on Operating Environment and Future Outlook - The company is facing temporary challenges due to product portfolio upgrades, operational issues, and industry headwinds, particularly in Europe and North America [6][43] - Management expects these headwinds to peak in H2 2024 and diminish significantly in 2025, with a focus on improving sales effectiveness and reducing inventory levels [10][25] - The company remains confident in its long-term potential, leveraging its scale, new platforms, and iconic brands to drive future growth [44] Other Important Information - The company is enhancing its go-to-market strategy in North America, focusing on improving share of voice, lead qualification, and pricing transparency to boost sales [26][27] - Early signs of improved market share and qualified leads are encouraging, with a projected 10% increase in unit sales in October compared to September [28] Q&A Session Summary Question: North America Inventory Target and Market Share - The company is on track to reduce U.S. dealer stock to 330,000 units by November, but further reductions may be needed to align with peer levels Management is focused on improving sales effectiveness to reduce days supply [45][46][48][49] Question: Pricing Strategy and Dividend Policy - The company is working on improving pricing transparency and reducing incentives, while maintaining a strong balance sheet to support its dividend policy despite significant cash outflows in 2024 [52][53][57][58] Question: Guidance Range and Product Launches - The company is keeping its guidance range wide to allow flexibility in implementing strategic actions Key product launches, such as the Dodge Charger Daytona and Jeep Cherokee, are expected to drive growth in 2025 [60][61][67] Question: EV Profitability and European Market - The company aims for profitability parity between BEV and ICE products, with progress in Europe but challenges in North America due to early-stage EV launches Stricter emissions regulations in Europe are driving aggressive EV production [69][70][72] Question: Sell-Through and Affordability - The company is focused on improving sell-through by enhancing sales effectiveness and addressing affordability challenges, which are critical for both Stellantis and the broader industry [76][77][81] Question: Free Cash Flow and Working Capital - Negative working capital and lower production volumes are impacting free cash flow, but the company expects improvements as inventory levels normalize and sales effectiveness improves [83][84][87] Question: Captive Finance and Trade Policy - The company is building out its captive finance organization in the U.S., which is expected to improve customer loyalty and sales effectiveness Trade policy uncertainties, particularly around USMCA, are being managed through operational flexibility [89][90][103][105]

Q3 2024 SHIPMENTS AND REVENUES STEL stis IRAN - All Car Ram 2500 Rebel Heavy Duty SAFE HARBOR STATEMENT This document, in particular references to "FY 2024 Guidance", contains forward looking statements. In particular, statements regarding future financial performance and the Company's expectations as to the achievement of certain targeted metrics, including revenues, industrial free cash flows, vehicle shipments, capital investments, research and development costs and other expenses at any future date or f ...

KEY TAKEAWAYSStellantis on Thursday reported a 27% plunge in third-quarter revenue but also noted progress in running down the excess inventory buildup in the U.S. that has plagued the Big Three automaker.The company, which recently issued a profit warning, said that third-quarter net revenues were 33 billion euros ($35.8 billion) and that it was on track to deliver around 20 new models this year.Stellantis shares are rising 2.9% in premarket trading but have lost 43% of their value since the start of the y ...

Stellantis worker at work inside of the new Hybrid and PHEV Vehicles Stellantis Group eDCT Assembly Plant on April 10, 2024 in Turin, Italy.Auto giant Stellantis on Thursday reported a 27% decline in third-quarter net revenues, but said it was making headway in addressing operational issues such as U.S. inventories.The Netherlands-based company, which owns household names including Jeep, Dodge, Fiat, Chrysler and Peugeot, said that net revenues for the July-September period came in at 33 billion euros ($35. ...

AUBURN HILLS, Mich. , Oct. 30, 2024 /PRNewswire/ -- Direct Connection, the Dodge performance parts brand, is launching a new engine block for the 1,000-horsepower, 950-lb.-ft. of torque Hellephant A30 426 Supercharged Crate HEMI® engine (shown here), as well as a new engine block for the Direct Connection Drag Pak 354 Supercharged Crate HEMI® engine. Dodge expands brand's Direct Connection performance parts line with launch of Hellephant A30 and Drag Pak 354 HEMI® engine blocks orderable through Direc ...

Stellantis (STLA) closed at $13.64 in the latest trading session, marking no change from the prior day. This move was narrower than the S&P 500's daily loss of 0.03%. At the same time, the Dow lost 0.61%, and the tech-heavy Nasdaq gained 0.56%. The automaker's stock has dropped by 12.79% in the past month, falling short of the Auto-Tires-Trucks sector's loss of 3.8% and the S&P 500's gain of 1.39%. The investment community will be paying close attention to the earnings performance of Stellantis in its upcom ...

Stellantis CEO Carlos Tavares is under pressure.Tavares is being criticized for cutting too deep as he reshapes the global automaker.Investors, dealers, and union workers have all raised issues with Tavares's leadership. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email ...

AUBURN HILLS, Mich., Oct. 21, 2024 /PRNewswire/ --Fiat 500e named 2025 Urban Green Car of the Year by Green Car JournalFor second straight year, Fiat 500e named Urban Green Car of the Year by Green Car Journal Fiat 500e's 42-kWh lithium-ion battery delivers estimated combined range of 149 miles and 162 miles in the city cycleAt just under 3,000 pounds, Fiat 500e is lightest passenger BEV in segment while being the most spacious 500 everWith more than 6 million Cinquecentos sold since 1957, current-generatio ...