Stellantis recently announced its full-year 2024 financial results, which were in line with previous guidance but highlighted the impact of excessive inventory in the US market. The company successfully reduced US vehicle inventory by more than 100,000 units by the end of 2024, as part of its efforts to revitalize its North American operations following the departure of former CEO Carlos Tavares. Currently, Stellantis is being overseen by an interim executive committee headed by board chairman John Elkann until a new CEO is appointed.
In 2024, Stellantis reported net revenues of €156.9 billion, a 17% decrease compared to the previous year. Consolidated shipment volumes also decreased by 12%, attributed to temporary gaps in product offerings and the completion of inventory reduction initiatives. Net profit for the year was €5.5 billion, down 70% from 2023, while adjusted operating income stood at €8.6 billion, a 64% decrease from the previous year.
Stellantis chairman John Elkann acknowledged the challenging year but also highlighted important strategic milestones achieved by the company. These include the rollout of new multi-energy platforms and products, production of EV batteries through joint ventures, and the launch of the Leapmotor International partnership. Elkann emphasized the dedication and determination of Stellantis’ employees in driving the company forward, engaging with stakeholders, and focusing on gaining market share and improving financial performance in 2025.
Shipments in North America saw a 25% decline to 1.43 million units, primarily due to reduced production in support of inventory reduction actions and discontinued models such as Dodge Charger and Challenger, Chrysler 300, and Jeep Cherokee and Renegade. In Europe, shipments decreased by 8% to 2.5 million units, driven by a reduction in dealer stock and production losses due to delayed vehicle launches utilizing the Smart Car platform.
Overall, Stellantis is navigating through a challenging period but remains focused on its strategic goals and initiatives to enhance its market position and financial performance in the coming years. The company’s resilience and commitment to innovation are evident as it continues to adapt to changing market dynamics and consumer preferences.
