2023-11-04 18:06:01
Net sales of €45.1 billion, up 7% compared to the third quarter of 2022, mainly driven by higher sales volumes and stable pricing, partly offset by unfavorable currency effects Consolidated sales(1) at 1,427 thousand units, up 11% compared to the third quarter of 2022, with year-on-year growth in Greater Europe, the Middle East and Africa, and North America and in South America Total stock of new vehicles of 1,387 thousand units as of September 30, 2023. Stock of 388 thousand units owned by Stellantis, up 158 thousand units compared to December 31, 2022, reflecting a return to levels more normal stocks following several years of significantly limited supplies Agreement in principle reached with UAW and Unifor. Work stoppages had a negative impact on net sales of around 3 billion euros compared to planned production through October Global sales of electric vehicles (BEV) up 37% compared to third quarter 2022, mainly thanks to the Jeep® Avenger and the increase in sales of utility vehicles such as the Citroën ë-Berlingo The company repurchased shares worth 500 million euros during the third quarter 2023, i.e. a total of 1.2 billion euros of shares repurchased during the nine months preceding September 30, 2023. The company plans to finalize its 2023 share buyback program amounting to 1.5 billion euros during of the fourth quarter of 2023
“During the first half of the year, Stellantis established itself as the sector leader among its peers in terms of current operating profit, current operating margin and industrial free cash flow. Today, we are doing everything we can to maintain our momentum by aiming for pole position in the sector in terms of profitability and cash flow, while responding to the key challenges of the sector in the short term and continuing our electrical and technological transformation. This growth helps accelerate the implementation of our Dare Forward 2030 strategic plan.”
Natalie Knight, CFO
New Peugeot E-3008
Stellantis NV maintains its momentum in the third quarter of 2023, with a 7% increase in net sales compared to the previous year and sales volume still growing. The company’s “third engine”(5) increased its turnover by 25% compared to the previous financial year. Global sales of electric vehicles (BEV) increased by 37% compared to the third quarter of 2022, mainly driven by the following vehicles: Jeep® Avenger, Citroën Ami, Peugeot E-208, new Fiat 500e and Citroën ë- Berlingo. The main operations implemented during the year as part of the Dare Forward 2030 strategic plan are as follows for each of the three major pillars:
Commitment: In an industry still affected by unprecedented disruption and transformation, Stellantis and its dealer network in Europe have consolidated their partnership to improve the customer experience and optimize their overall journey. With the signature of more than 8,000 sales contracts and 25,000 following-sales contracts in 10 key European countries, Stellantis and its commercial partners share the same objectives in terms of simplification, multi-brand approach, customer focus and quality. Austria, Belgium, Luxembourg and the Netherlands have already adopted the new business model, and are expected to be followed by the rest of European countries from 2024.
Tech: The first application of the STLA Medium platform, the first of four Stellantis global platforms designed for electric vehicles, has been unveiled: it is the new Peugeot E-3008, which will display a leading autonomy of up to to more than 700 km, as well as unrivaled recharge time, performance, efficiency and driving pleasure. With the desire to shape the sustainable urban mobility of tomorrow, Fiat has returned to the B segment with the new 600e, equipped with cutting-edge safety features and with an electric range of more than 400 km (WLTP(6) combined cycle) and 600 km (WLTP(6) urban cycle) in the city. Fiat also unveiled its new micromobility offering, the Topolino, which offers a range of 75 km with a top speed of 45 km/h. Additionally, the company announced the start of production of an all-new electric LCV at Ellesmere Port, becoming both the first UK and Stellantis site globally dedicated 100% to mass manufacturing. electric models.
The new Citroën ë-C3, a 100% electric model, will soon enter the market. The first accessible European electric car, the ë-C3 offers a high level of comfort and easy electric operation thanks to its 44 kWh battery pack (up to 320 km of autonomy in the WLTP(6) cycle). It will be offered at an identical net price in most European markets, starting from 23,300 euros.
Stellantis has opened its ultra-modern Battery Technology Center within the Mirafiori complex in Turin, Italy. The center will allow Stellantis to design, develop and test the battery packs, modules, high voltage cells and software that will equip its future vehicles.
The company is strengthening its global ecosystem dedicated to electrification and maintaining its ambitions in terms of carbon neutrality: (i) validation of tests with Aramco for the compatibility of 24 families of thermal engines with alternative eFuels fuels, with the aim of reduce CO2 emissions from the 28 million Stellantis vehicles currently in circulation; (ii) presentation with Saft of the IBIS (Intelligent Battery Integrated System) project, which might be marketed on Stellantis vehicles by the end of the decade; (iii) announcement of the construction of a sixth gigafactory globally to support its ambitious electrification strategy aimed at ensuring the availability of approximately 400 GWh of battery capacity; this will be the second gigafactory built in the United States with Samsung SDI; (iv) investment in the Hell’s Kitchen project of Controlled Thermal Resources Holdings Inc., with a production capacity of the equivalent of 300,000 tonnes per year of lithium carbonate; (v) finalization of the acquisition of 33.3% of the capital of Symbio, a leader in zero-emission hydrogen mobility, to strengthen Stellantis’ leading position in the field of hydrogen vehicles.
Value: To accelerate the adoption of electric vehicles in North America, Stellantis and six other major international automakers have chosen to establish an unrivaled charging network with the installation of at least 30,000 ultra-fast charging stations .
Stellantis is also deploying a multi-dimensional strategy aimed at managing and securing the long-term supply of essential electronic microchips and thus achieving the objectives of the Dare Forward 2030 plan. Stellantis’ strategy combines agreements with semiconductor manufacturers, the purchase direct access to essential parts and complete visibility of future electronic chip needs.
The company repurchased €0.5 billion worth of shares during the third quarter of 2023, for a total of €1.2 billion worth of shares repurchased during the nine months preceding September 30, 2023. The company plans to finalize its 2023 share buyback program amounting to €1.5 billion during the fourth quarter of 2023.
Last October, Stellantis announced its intention to acquire approximately 20% of Leapmotor for 1.5 billion euros as well as the creation of
“Leapmotor International”, a 51/49 joint venture managed by Stellantis, which will hold exclusive rights to manufacture, export and sell Leapmotor products outside of China.
Furthermore, also in October, the company launched Pro One, its strategic offensive on commercial vehicles, which aims to strengthen its global leadership. It will rely in particular on the offers to professionals from its six emblematic brands – Citroën, FIAT Professional, Opel, Peugeot, Ram and Vauxhall – and will contribute to achieving the objectives of the Dare Forward 2030 strategic plan.
Events to come :
• 2023 financial results – February 15, 2024
• Investor Day 2024, Auburn Hills, Michigan, United States – June 13, 2024
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