Jeep and Ram maker Stellantis posted a preliminary 10 percent rise in second-quarter vehicle shipments to nearly 1.6 million units, driven by a 38 percent surge in North America. Despite the delivery growth, the automaker reported a below-estimate operating profit of €293 million for the period.
Stellantis NV staged a recovery in vehicle deliveries during the second quarter, pushing global shipments to an estimated 1.6 million units. The 10 percent year-over-year increase was driven by retail and fleet customer deliveries across key markets, though regional disparities and stiff competition weighed heavily on financial returns.
North American Gains Led by Truck and SUV Rollouts
North America anchored the company’s volume growth, with shipments jumping 38 percent to 445,000 units. The volume surge was supported by new or refreshed models, including the Ram 1500 light-duty truck with a Hemi V8 engine and its high-performance off-road TRX SRT version. Refreshed entries from Jeep—such as the Grand Wagoneer and Grand Cherokee—alongside the Chrysler Pacifica also contributed to the tally, though the automaker noted the numbers reflected preparations for a planned summer production shutdown.
Chief Executive Antonio Filosa took the helm of a turnaround strategy aimed at reversing customer defections caused by prior pricing pressures, heavy electric vehicle focus, and quality issues. Filosa unveiled a 60 billion euro ($68.4 billion) turnaround plan through 2030, prioritizing core brands like Jeep, Ram, Peugeot, and Fiat. Yet, despite the model rollouts, JPMorgan and HSBC analysts downgraded the stock amid concerns over rising vehicle inventories in the United States.
European Volumes Rise Amid Intensifying Competition
In the Enlarged Europe region, Stellantis shipments rose 5 percent to 762,000 units. The company attributed the European increase to supported by higher industry volumes
, pointing to strong demand for budget-friendly entries such as the Citroen C3 and C3 Aircross, Opel Frontera, and Fiat Panda.
That regional volume growth masked intense margin pressure. Stellantis cited high raw-material costs and weak pricing in Europe, where Chinese manufacturers are expanding aggressively with affordable electric and hybrid options. The European sales figures also included roughly 33,000 vehicles from Chinese partner Zhejiang Leapmotor Technology Co., whose vehicles Stellantis distributes regionally as part of a manufacturing partnership designed to utilize European plant capacity.
Profit Pressures and Regional Headwinds
Despite the broader delivery gains, profitability lagged behind expectations. Stellantis posted an adjusted operating income of €293 million ($335 million) for the period, falling short of analyst forecasts as group sales and a return to net income failed to reassure investors.
Growth in North America and Europe faced offsets elsewhere. Shipments dropped 3 percent in the Middle East and Africa, which the automaker described as largely due to the regional conflict
. South American volume also dipped 3 percent, dragged down by a weaker performance in the Argentine market.
Market Sentiment and Next Financial Disclosures
Investor unease has weighed on the carmaker’s valuation. Milan-listed shares recently slipped to €4.59, their lowest level since the automaker formed in early 2021 through the merger of Fiat Chrysler and Peugeot maker PSA. The stock dip paralleled wider automotive sector jitters, amplified by a sweeping restructuring dispute at Europe’s largest carmaker, Volkswagen.
Stellantis is scheduled to release its full second-quarter financial results on July 30, providing a complete picture of its profitability, operating margins, and the financial trajectory of its multi-year business plan.
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