The automotive giant delivered 1.335 million vehicles (down 10%), but the drop in turnover was also influenced by the exchange rate effect and changes in its model range, Stellantis explains in a statement.
This year, the automotive group will launch 25 completely new or renewed models, including 18 electric versions, with 21 yet to be launched on the market.
This situation creates a transition period between the sales of old models and the arrival of new models at dealers, he recalls in the released note.
“We are in a period of transition as we launch new products onto the market. We will see a significant improvement in results in the second half of the year”, the group’s financial administrator, Natalie Knight, told journalists.
Stellantis also reported that sales of electric vehicles increased by 8% in the first quarter, while sales of low-emission vehicles rose by 13% year-on-year.
Furthermore, market share in its two main markets, Europe and North America, remained stable, as did the net price of its products.
In South America, the group continues to be the market leader with a share of 23.4%, according to the statement.
JS // SB
Lusa/End
Tags: Stellantis revenue fell #1st quarter
