Stellantis Q3 shipments fall 1%, weighed down by North America production halt
Stellantis Q3 shipments fall 1%, weighed down by North America production halt Oct 13 (Reuters) - Franco-Italian automaker Stellantis STLAM.MI said on Tuesday its global third-quarter shipments fell 1% from a year ago to an estimated 1.3 million vehicles, hit by a summer production shutdown in North America.
Stellantis is launching six new vehicles and unveiling nine concept cars at the Paris Motor Show this week, after CEO Antonio Filosa announced a €60 billion ($67 billion) turnaround plan in May, after two years of declining market share and weak sales.
In North America, vehicle shipments dropped 12% to 357,000 units, mainly due to the shutdown that affected Jeep models like the Grand Cherokee and Compass, each down by 25,000 units year-on-year
Europe shipments rose 10% to 588,000 units, the only region improving on a yearly basis, fuelled by demand for EV models
The European figure includes around 44,000 vehicles from Chinese partner Leapmotor 9863.HK, which Stellantis distributes in the region
Shipments in the Middle East and Africa fell 21% to 75,000 due to lower volumes in Turkey and Gulf Cooperation Council countries, impacted by conflicts in the region
Stellantis is due to report its complete third-quarter results on October 28
($1 = 0.8945 euros)
(Reporting by Enrico Sciacovelli in Gdansk, editing by Milla Nissi-Prussak)
((Enrico.sciacovelli@thomsonreuters.com))
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