Jeep-maker Stellantis Reports 12% Revenue Decline in Q1 Due to Lower Sales Volumes, Sees Improved Growth and Profitability in Second Half of 2024

  • 5 months ago
Stellantis reported a 12% year-over-year decline in first-quarter revenue, citing lower sales volumes and foreign exchange impacts. Vehicle shipments fell 10% to about 1.3 million units as the company manages inventory ahead of new product launches. Stellantis is transitioning its portfolio and will launch 25 new models this year, including 18 battery-electric vehicles. Four new models were introduced in the first quarter, with the company expecting "materially improved growth and profitability in the second half of the year."
Transcript
00:00 It's Benzinga and here's what's on the block.
00:02 Stellantis reported a 12% year-over-year decline in first quarter revenue, citing lower sales
00:08 volumes and foreign exchange impacts.
00:10 Vehicle shipments fell 10% to about 1.3 million units as the company manages inventory ahead
00:15 of new product launches.
00:17 Stellantis is transitioning its portfolio and plans to launch 25 new models this year,
00:21 including 18 battery electric vehicles.
00:24 Four new models were introduced in the first quarter, with the company expecting materially
00:27 improved growth and profitability in the second half of the year.
00:31 For all things money, visit Benzinga.com.
00:33 [BLANK_AUDIO]

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