Stellantis Announces Third Quarter 2024 Consolidated Shipping Estimates

Stellantis Announces Third Quarter 2024 Consolidated Shipping Estimates
The decline reflects inventory reduction initiatives as well as the impact of new product launches. Progress on both is expected to position the company stronger for the future

AMSTERDAM, October 16, 2024 – Stellantis is launching the publication of global quarterly consolidated delivery estimates and the provision of commentary on related business trends. The term “Delivery” describes vehicle volumes delivered to our dealers, distributors or directly from the Company to retail and fleet customers that directly impact revenue recognition.

Consolidated deliveries for the three months ended September 30, 2024 were estimated at 1,148,000 units, down 20% from the same period in 2023. The decline in shipments was more severe than the underlying decline in sales during the period, which was approximately 15%. due to the temporary impact of changes in our product portfolio and dealer inventory reduction initiatives.

• In North America, shipments fell by approximately 170,000 units, of which more than 100,000 units were due to pre-announced production cuts aimed at reducing dealer inventories, as well as gaps in the product portfolio as the group transitions to new generations Multi-energy offerings are expected to launch products starting in late 2024 with the Dodge Charger Daytona and Jeep Wagoneer S. However, U.S. retail sales supported the third quarter’s month-over-month market share increase of 7.2 % in July to 7.9% in August 8.0% in September, while inventory was reduced by 50,000 units (-11.6%) compared to the end of the previous quarter.
• In wider Europe, deliveries from our factories were approximately 100,000 units lower year-on-year, primarily due to delayed product launches on the Smart Car platform, including the Citroën C3 (which was delivered in September). Prospects for the launch of new European products are good, with orders of, for example, 50,000 units for the all-new Citroën C3 and 80,000 units for the all-new Peugeot 3008.
• In Stellantis’ “Third Engine” ⁽²⁾Overall shipments were flat as increases in South America offset declines in the Middle East and Africa, China, and India and Asia Pacific.

(1) Consolidated deliveries include only deliveries from the Company’s consolidated subsidiaries which are new vehicles invoiced to third parties (dealers/importers or end customers).

The consolidated shipping volumes for the third quarter of 2024 presented here are unaudited and are subject to adjustment. The final figures will be announced in our official sales/delivery report. Analysts should interpret these numbers with the understanding that they are preliminary and subject to change.

(2) The “Third Engine” refers to the summary of the South America, Middle East and Africa as well as China and India and Asia-Pacific segments for presentation purposes only.

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About Stellantis

Stellantis NV (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world’s leading automobile manufacturers with the aim of providing clean, safe and affordable mobility freedom to everyone. It is best known for its unique portfolio of iconic and innovative brands, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT and Jeep_®Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Stellantis is executing its Dare Forward 2030, a bold strategic plan paving the way to achieve the ambitious goal of becoming a carbon-neutral mobility technology company by 2038, with single-digit percentage offsetting of remaining emissions while creating value for all stakeholders. For more information, see www.stellantis.com.

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For further information please contact: [email protected] [email protected] www.stellantis.com

Safe Harbor Statement

This document contains forward-looking statements. Statements regarding the Company’s future financial performance and expectations of achieving certain target metrics, including revenues, industrial free cash flows, vehicle deliveries, capital investments, research and development costs and other expenses at a future date or for a future period, are forward-looking statements . These statements may contain words such as “may,” “will,” “expect,” “could,” “should,” “intend,” “estimate,” “anticipate,” “believe,” “remain,” “on track.” “include”, “design”, “target”, “objective”, “objective”, “forecast”, “projection”, “outlook”, “prospects”, “plan” or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on the company’s current state of knowledge, future expectations and forecasts about future events and are naturally subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur in the future and therefore undue reliance should not be placed on them. Actual results may differ materially from those expressed in forward-looking statements due to a variety of factors, including: the Company’s ability to successfully launch new products and maintain vehicle delivery volumes; changes in global financial markets, the general economic environment and changes in demand for automotive products, which are subject to cyclicality; the Company’s ability to successfully manage the industry-wide transition from internal combustion engines to full electrification; the Company’s ability to offer innovative, attractive products and to develop, manufacture and sell vehicles with advanced features, including enhanced electrification, connectivity and autonomous driving capabilities; the Company’s ability to produce or procure electric batteries with competitive performance, cost and in the quantities required; the Company’s ability to successfully launch new businesses and integrate acquisitions; a significant malfunction, interruption or security breach affecting the information technology systems or the electronic control systems in the Company’s vehicles; Exchange rate fluctuations, interest rate changes, credit risk and other market risks; increases in costs, supply disruptions or shortages of raw materials, parts, components and systems used in the Company’s vehicles; changes in local economic and political conditions; changes in trade policies, the imposition of global and regional tariffs or tariffs targeted at the automotive industry, the enactment of tax reforms or other changes in tax laws and regulations; the extent of government economic incentives available to support the adoption of battery electric vehicles; the impact of increasingly stringent regulations regarding fuel efficiency requirements and the reduction of greenhouse gas and exhaust emissions; various types of claims, actions, regulatory investigations and other contingencies, including product liability and warranty claims and environmental claims, investigations and actions; significant operating expenses related to compliance with environmental, health and safety regulations; the level of competition in the automotive industry, which may increase due to consolidation and new entrants; the Company’s ability to attract and retain experienced management and employees; risk of deficits in funding the Company’s defined benefit pension plans; the Company’s ability to provide or enable merchants and retail customers to access adequate financing and the associated risks associated with the operations of financial services companies; the Company’s ability to access financing to implement its business plan; the Company’s ability to realize anticipated benefits from joint venture agreements; disruptions due to political, social and economic instability; risks associated with the Company’s relationships with employees, vendors and suppliers; the Company’s ability to maintain effective internal controls over financial reporting; developments in labor and industrial relations and developments in applicable labor laws; earthquakes or other disasters; and other risks and uncertainties. All forward-looking statements contained in this document speak only as of the date hereof and the Company disclaims any obligation to publicly update or revise any forward-looking statements. Additional information about the Company and its business, including factors that could materially affect the Company’s financial results, is contained in the Company’s reports and filings with the U.S. Securities and Exchange Commission and the AFM.

• EN-20241016-Stellantis Q3 Delivery Estimates – Release – FINAL