Stellantis Reports Shipments Down 20%, With 36% Drop in North America

Global Shipments Decline - Worldwide shipments of Stellantis vehicles fell by 20% in the third quarter, with a 36% drop in North America [1][2] - Shipments during the quarter fell to about 1.15 million vehicles from 1.43 million last year [2] - The drop in shipments exceeded the 15% decline in Stellantis' third-quarter underlying sales [3] Regional Performance - Shipments fell in Europe, Middle East and Africa, and China, India, and Asia Pacific regions [4] - South America was the only region to register a gain in shipments [4] - Stellantis' market share in the U.S. rose to 8% in September from 7.2% in July [4] Company Challenges - Stellantis has seen sales fall and shares lose 44% of their value so far this year [1][5] - The company issued a profit warning, citing "deterioration in global industry dynamics" and competition from Chinese rivals [2] - Stellantis announced changes at its executive level to focus on key business priorities and address industry issues [5] Market Reaction - Stellantis shares were up 1% at $13.08 soon after the opening bell Wednesday [5] - The company has faced lower-than-expected quarterly results, production pauses, and cuts to its full-year outlook [5]