Stellantis Q3 Revenue: Revenue Decline Offset by Swift U.S. Inventory Reductions

As it looks to address bloated inventory and poor commercial performance that resulted in a significant earnings warning last month, the automaker stated that decreased shipments and lesser pricing power cut Stellantis revenue by 27% in the third quarter. Stellantis shares, the top performers on the Milan bourse’s blue chips, were up 2.3% at 1035 GMT, making the result released on Thursday somewhat better than anticipated.

Inventory reduction in the United States is running at a faster rate than expected,

new finance chief Doug Ostermann

Stellantis Reduces Inventory by 129,000 Units Amid North America Strategy Shift

According to Stellantis, as of September 30, total inventory was 1.33 million units, a decrease of 129,000 units over the previous year. Between June 30 and October 30, the overall inventory at dealers in the United States decreased by more than 80,000. As part of a top management reorganization intended to address strategic errors, particularly in North America, Ostermann, who formerly oversaw Stellantis’ operations in China, took Natalie Knight’s place this month.

Stellantis’ particular issues are compounding larger hurdles facing Western automakers, such as a lackluster worldwide market, particularly for EVs, difficulties with the technology transfer, and heightened rivalry from Chinese rivals. This year, Stellantis’ stock has dropped almost 40% in value.

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