2023-10-31 13:44:58
The historic automotive strike in the US has not significantly dented the quarterly results of Stellantis, the French-Italian-American consortium that owns Chrysler, one of the ‘Big Three’ de Detroit. Specifically, its turnover at the end of September amounted to 143.5 billion euros in 2023, an increase of 10%.
Another similar boom was that of its registrations, which amounted to 4.63 million units. Special mention goes to the manufacturer’s electric models, of which the Jeep Avenger, Citroën Ami, Peugeot e-208, Fiat 500e and Citroën ë-Berlingo stand out. In total, electric models represented an increase in sales of 37%.
In the United States, Stellantis says it has reached a tentative agreement with the majority union, the United Auto Workers, and Canada’s Unifor to end strikes at its factories. Since its inception, in mid-September, the manufacturer estimates that the impact on revenue has been around 3,000 million euros.
In terms of inventory, the company has 1.38 million new vehicles in the fields. Most of these, just under a million, are owned by dealers.
According to CFO Natalie Knight, “Stellantis emerged as the industry leader in free cash flow and profitability among its comparable rivals.” Looking ahead to the end of the year, the manufacturer maintains its double-digit profitability forecasts.
In its foreign markets, “we consider that we continue to have a very strong position around the world.” Thus, it foresees productive improvements in North America and Europe, but a reduction in South America.
Earlier this month, Stellantis bought a stake in Chinese electric vehicle maker Zhejiang Leapmotor Technologies in a bid to turn around declining sales in the world’s largest single market.
In addition, this ‘joint venture’ will also allow it to sell models from the Asian manufacturer in the markets in which the Western consortium operates.
In October, they also unveiled the new electric C3, a subcompact with an SUV profile whose price starts at 23,300 euros, making it the most affordable zero-emissions model produced in Europe.
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