Stellantis reports strong growth in European and electrified markets
London, 08 November 2023, (Oilandgaspress) – Stellantis N.V. announced impressive Q3 results last week, Enlarged Europe Operations reports a significant contribution to the company’s strong performance. Notably, a substantial 5% YoY increase in net revenues, driven by an 11% rise in shipments and consistent net pricing, pushed Stellantis to second position in European market sales, securing an 18.3% market share in Q3. Stellantis’ dominant Commercial Vehicle (CV) segment, consistently above 30% market share, supports the recently launched Stellantis Pro One business unit in its sector leadership.
There have been noteworthy achievements in key European markets, including a 14.9% market share in Germany in September, the highest in almost three years, and strong contributions from Opel, Jeep, and the CV lineup. In the UK, Stellantis achieved a 14% market share in the same month – recording its highest monthly volume – with the best-selling B-segment car, the Vauxhall Corsa.
In the BEV market, Stellantis is growing rapidly, with a 41% increase compared to Q3 2022, capturing a 15.3% market share in Europe, and leading in various BEV segments. BEV sales are steadily increasing quarter by quarter, putting Stellantis second in the European rankings with over 87,000 BEV vehicles delivered in Q3. Models such as the Fiat 500e, Opel/Vauxhall Corsa electric, Peugeot e-208, Jeep Avenger and the entire BEV CV line-up (38% market share) boosted the Company’s performance; in particular, Stellantis clinched the top position in Germany’s electric car segment in September, taking a market share of nearly 23%.
“We’ve not just reduced the gap with the market leaders in Europe but surpassed them this past quarter in the BEV market”, said Uwe Hochgeschurtz, Stellantis Chief Operating Officer, Enlarged Europe. “In a dynamic and competitive environment marked by ongoing disruptions, we are showing resilience, efficiency, and agility by leveraging our unique product offer on the dedication of our employees and on the commitment of our dealer network. The momentum of our electrification has also been growing in October, and we are on track to double our all-electric model offering by the end of 2024, as part of our Dare Forward 2030 strategic plan. There is still a long road ahead, but we are poised for success on our journey together.”
Preliminary results1 for October in the EU29 show a 14% increase in registrations compared to last year, with a market share of around 19.1% for the month (+0.2 percentage points compared to September 2023) and 18.8% for the first ten months of the year. In the five key European countries, October sales are higher than last year: +21.3% in France, +28.9% in Germany, +18.2% in Italy, +6.4% in Spain, +6% in the UK. France, Italy, and Portugal lead in the total market, with France, Portugal, and Spain ahead in the electrified market. In the UK, Vauxhall is the #1 e-CV brand, and the Vauxhall Corsa, Mokka, and Vivaro Electric versions top their respective BEV segments. Stellantis had a strong October in Germany, with commercial vehicle sales nearly doubling, contributing to a record market share of 25.7%.
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