Stellantis N.V. said on Thursday that its net revenues in the third quarter of 2024 amounted to €33.0 billion, falling 27% compared to the same period a year earlier.
Consolidated shipments declined 20% year over year to 1.1 million. The company marked total new vehicle inventory at 1.3 million units. The carmaker said it kept its 2024 financial guidance unchanged.
"While Q3 2024 performance is below our potential, I'm pleased with our progress addressing operational issues, in particular U.S. inventories, which have been reduced meaningfully and are on track for year-end targets, as well as stabilization of U.S. market share. In Europe, stringent quality requirements delayed the start of certain high volume products, but with progress resolving challenges we will soon benefit from the significantly expanded reach our generational new product wave brings to 2025 and beyond," CFO Doug Ostermann noted.
