Stellantis experiences decline in Q1 2024 revenue prior to BEV launches.

Stellantis has reported its first-quarter revenues and deliveries, noting a drop in revenue from the same quarter last year. The multinational automaker and Dodge-Chrysler parent company says the drop was due to its transitioning product portfolio as it prepares to launch additional battery-electric vehicles (BEVs) and due to other economic headwinds. Despite the drop, Stellantis notes that it saw sales of BEVs increase by 8 percent year over year, while light electric vehicle (LEV) deliveries jumped by 13 percent from 2023.

The company also says it’s hyper-focused on launching new BEVs later this year, after it introduced the Fiat Topolino, Maserati Grecale Folgore, and Ram ProMaster EV during the quarter. “We are reducing inventories to reinforce our strong relative pricing ahead of our new or mid-cycle product launches this year in key regions.”

Stellantis also notes that it began production of its in-house electric drive modules at the Indiana Transmission plant as it prepares to launch as many as 18 BEV models this year. “During Q1 2024, we have introduced four new models out of our full-year launch plan of 25 models, including 18 BEV nameplates, which we believe sets the stage for materially improved growth and profitability in the second half of the year,” Knight added.

In conclusion, Stellantis is actively navigating its transitioning product portfolio and preparing for the launch of new BEV models, with a focus on reducing inventories and reinforcing strong relative pricing in key regions.

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