A difficult quarter for Stellantis
In the third quarter of 2024, Stellantis recorded revenues of 33 billion euros, a decrease of 27% compared to the 35.9 billion expected by the Bloomberg consensus. This decline is attributable to several factors, including a decrease in deliveries and an unfavorable product mix. In addition, the company faced the impact of exchange rates and prices, which further complicated its financial situation.
Declining deliveries and portfolio transition
Consolidated deliveries of Stellantis experienced a significant decrease, falling to 1,148 thousand units, a decrease of 279 thousand units compared to the previous year, equal to a reduction of 20%. The company explained that this result was influenced by the cessation of production of several models, necessary to start the transition of the product portfolio globally. In addition, the planned reduction in inventories in North America and the difficulties of the European market have contributed to these disappointing results
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Future strategies and return to shareholders
Despite the difficulties, Stellantis confirmed its plan to present around 20 new models in 2024, maintaining a product strategy consistent with market needs. In addition, the company recently concluded a program to repurchase treasury shares worth 3 billion euros, of which 0.9 billion in the third quarter. This program resulted in a total return of 7.7 billion euros to shareholders in 2024, highlighting Stellantis’ commitment to maintaining a solid and sustainable capital policy
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Prospects for the future
Stellantis confirmed its financial guidance for 2024, which had been updated previously. The company plans to face market challenges with a well-defined strategy, focusing on innovation and adaptation to new consumer needs. The current situation represents a crucial moment for the company, which will have to navigate through a complex and constantly evolving market environment.