Car industryStellantis is struggling with high inventory levels in the USA
SDA
31.10.2024 - 10:55
The car manufacturer Stellantis suffered a slump in sales in the third quarter due to its problems in the important North American market. Turnover fell by over 25 percent year-on-year to 33 billion euros, as the company announced in Amsterdam.
31.10.2024, 10:55
SDA
The supplier of brands such as Opel, Peugeot, Citroen, Fiat, Chrysler, Jeep and Alfa Romeo sold only 1.15 million cars in the third quarter - around a fifth less than a year earlier. The new Stellantis CFO Doug Ostermann referred to the high inventory levels of cars, particularly in the USA. In addition, model launches in Europe had been delayed due to quality requirements.
What is the problem in the USA
According to Stellantis, it is launching a total of almost 20 new models on the market this year. This is also causing sales to falter in the transition period during the market launch. However, the company is satisfied with the order intake for new cars.
In the USA, too many Stellantis brand cars are sitting unsold in dealers' yards and in the factories' storage parking lots. This tends to put pressure on sales prices. In the USA, the car manufacturer usually makes the lion's share of its profits with large SUVs and pick-ups.